Government of Canada Investment in Local CFDC to Benefit Small Business

TERRACE BAY, Ontario July 5, 2006 – The Honourable Tony Clement, Minister of Health and Minister for FedNor, today announced a Government of Canada investment of $314,750 in the Superior North Community Futures Development Corporation (CFDC). The investment will support the ongoing operations of the CFDC over the next year.

“Canada’s new government recognizes that entrepreneurship is the backbone of our economy in rural and Northern communities,” said Minister Clement. “This contribution will promote stronger communities, by supporting business expansion and job creation.”

In the last five years, Northern Ontario CFDCs have provided loans and business counselling activities to help the small business sector create or maintain 10,500 jobs in the North. Last year, the Superior North CFDC assisted in creating or maintaining 47 jobs.

“We look forward to collaborating with other partners to implement community economic development initiatives that respond to specific challenges facing the communities that we serve,” said Melody Mateev, Chair of the Superior North CFDC. “This funding will help us to continue to make a positive contribution toward the development of business and job opportunities in the region.”

The Superior North CFDC is one of 61 Community Futures Development Corporations in rural and Northern Ontario funded by Industry Canada’s Community Futures Program through FedNor.

To find out more about Ontario CFDCs, visit: http://cfdc-ontario.ic.gc.ca

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For more information, please contact:

Erik Waddell
Press Secretary
Office of the Honourable Tony Clement
(613) 957-0200

Kim Fewchuk
Communications Officer
FedNor
(705) 941-2105 or 1 877 333-6673