January 14, 2005
Industry Canada/FedNor News Release
LOCAL CFDC RECEIVES INDUSTRY CANADA SUPPORT FOR REGIONAL ECONOMIC DEVELOPMENT INITIATIVES
PICTON, Ontario, January 14, 2005 — The Honourable Mauril Bélanger, Deputy Leader of the Government in the House of Commons and Minister responsible for Eastern Ontario, on behalf of the Honourable Joe Comuzzi, Minister of State (FedNor), today announced Industry Canada support to the Prince Edward/Lennox & Addington Community Futures Development Corporation (CFDC) to implement projects under four components of the Eastern Ontario Development Fund (EODF): the Skills Development; Access to Capital; Youth Retention and Attraction; and Business Development initiatives.
The EODF is a $10-million Government of Canada initiative announced last spring. It promotes socioeconomic development in rural Eastern Ontario, contributes to the successful development of business and job opportunities, as well as sustainable self-reliant communities, and will lead to a competitive and diversified regional economy.
“The Government of Canada is committed to investing in initiatives that promote economic diversification and development,” said Minister Bélanger. “This CFDC is now better equipped to help strengthen the regional economy and assist communities and businesses reach their potential.”
There are 61 CFDCs located 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 governed by a volunteer-based board of directors, made up of local residents representative of the community.
The Government of Canada is providing a total of $475 000 to this CFDC in support of these initiatives.
“We can now better address local economic and business development needs and priorities, and help ensure a prosperous future for our area,” said Doug Sexsmith, Chair of the Prince Edward/Lennox & Addington CFDC.
Funding for this initiative was provided for in the March 2004 federal budget and is therefore built into the existing fiscal framework.
To find out more about Ontario CFDCs, visit: http://cfdc-ontario.ic.gc.ca
For more information, please contact:
Graeme Wilkes
Director of Communications, Office of the Honourable Joe Comuzzi
(613) 947-5850
Robert Naud
Senior Communications Officer, Industry Canada/FedNor
(613) 954-3691 or 1 877 333-6673