May 4, 2005

ATIKOKAN, Ontario, May 4, 2005 – Ken Boshcoff, Member of Parliament for Thunder Bay–Rainy River, today announced FedNor support of $250,000 to the local Community Futures Development Corporation (CFDC), known as the Atikokan Economic Development Corporation, for its ongoing operations.

“By investing in local-level partners, such as CFDCs, the Government of Canada helps to foster economic development and diversification in Northern Ontario,” said Mr. Boshcoff.  “This CFDC has significantly contributed to the prosperity of the region by providing area businesses and communities access to the capital and resources they require to succeed and grow.”

The Atikokan area CFDC is one of 61 CFDCs in rural and Northern Ontario funded by Industry Canada’s Community Futures Program through FedNor.  CFDCs deliver a wide variety of programs and services to support community economic development and small business growth.  They employ local staff and are each governed by a volunteer board of directors, made up of local residents representative of the community.

In the last five years, Northern Ontario CFDCs have successfully invested more than $92 million through their loans and business counselling activities to help the small business sector create or maintain 10,100 jobs in the North.  Last year, the Atikokan Economic Development Corporation invested $671,789 and assisted in creating and maintaining 351 jobs, contributing to an enhanced business community.

“This funding allows us to continue our progress in area economic and business development, in particular in the tourism and value-added forestry sectors,” said David Elder, Chair of the Atikokan area CFDC.

FedNor helps rural and northern communities strengthen their economies and create jobs.  By partnering with CFDCs, FedNor is opening doors and building futures for a prosperous Northern Ontario.

Funding for this initiative was provided for in the February 2005 federal budget and is therefore built into the existing fiscal framework.

To find out more about FedNor, visit us at:  http://fednor.ic.gc.ca

For more information, please contact:

Graeme Wilkes
Director of Communications, Office of the Honourable Joe Comuzzi
(613) 947-5850

David Frood
Communications Officer, FedNor
(807) 766-1820 or 1 877 333-6673