February 11, 2005
Skills Development Initiative - $165 000
The Skills Development Initiative is aimed at creating a skilled labour force in the region by providing funds to for-profit organizations to offset training costs. The Community Futures Development Corporation (CFDC) will fund on-the-job, in-house/outsourced, or classroom training for new or existing employees. Eligible recipients include corporations, partnerships, cooperatives, proprietorships, trusts or associations. Funding of up to $25 000 per business will be provided. The CFDC will contribute half the training costs up to a maximum of $5000 per employee, with a goal of increasing the efficiency and competitiveness of businesses in all sectors.
Access to Capital Initiative - $135 000
As part of the Access to Capital Initiative, a Capitalization Fund will be developed to implement a Community Retrofit Program. The CFDC will provide loans of up to $125 000 with flexible repayment terms to eligible businesses to offset costs of developing vacant or underused lands, including commercial and industrial properties. This program will support incremental projects that will assist the economic development of Grenville County in the long term.
Through this initiative, the Grenville CFDC will also provide a $45 000 contribution to the Community Venture Capital Fund.
Youth Retention and Attraction Initiative - $100 000
For this initiative, the CFDC will support area private and not-for-profit sectors in employing recent Eastern Ontario secondary and post-secondary graduates. This component will provide youth with full-time work experience, leading to longer-term employment as well as valuable job skills. Not-for-profit recipients may receive funding worth up to 100 percent of eligible costs and will not normally exceed $15 000 per internship. Private sector businesses may receive contributions worth up to 50 percent of eligible costs, up to a maximum of $15 000 per internship, in most cases.
Business Development Initiative - $80 000
The Eastern Ontario Development Fund’s Business Development Initiative involves establishing a Local Initiative (LI) Fund and a Business Planning Fund. The LI Fund will support a variety of local community economic development projects, such as pre-feasibility studies, community strategic planning, research projects and marketing/promotional activities. Projects will receive funding up to a maximum of $10 000, in most cases. Eligible recipients include not-for-profit community organizations, municipalities and First Nations.
The Business Planning Fund will provide support to new and existing entrepreneurs for research and/or business, export and/or marketing plans. The CFDC will contribute up to $5000 toward an entrepreneur’s consultant costs. Funding will be provided up to a maximum of $10 000, in most cases. All projects will be assessed according to local and regional needs, priorities and opportunities
Heather Lawless, Executive Director
Grenville Community Futures Development Corporation
197 Water Street, Suite 405, Box 309
Prescott, ON K0E 1T0
Tel. 613.925.4275 ext. 21
Toll Free 877.925.4275
Fax. 613.925.3758
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