Greenstone Area Receives FedNor Support

GERALDTON, Ontario, June 14, 2006 — The Honourable Tony Clement, Minister of Health and Minister for FedNor, today announced a FedNor investment of $500,000 in the local Community Futures Development Corporation (CFDC) known as the Greenstone Economic Development Corporation. The funding will support the CFDC’s investment activities in the region.

“Canada’s new government is delivering on its commitment to invest in small business, recognizing the potential of small entrepreneurs to drive the economy of Northern Ontario,” said Minister Clement.

The Greenstone CFDC will use the funding to provide services to support local economic development and small business growth, including repayable loans, loan guarantees, and equity to small and medium-sized businesses.

In the last five years, Northern Ontario CFDCs have provided loans and business counselling to help the small business sector create or maintain 10,621 jobs in the North. Last year, the Greenstone Economic Development Corporation invested $993,765 and assisted in creating or maintaining 59 jobs, contributing to an enhanced business community.

“FedNor’s support will help the Greenstone economy to prosper, as businesses grow and develop, creating more employment opportunities,” said Michael Power, Chair of the Greenstone Economic Development Corporation.

The Greenstone Economic Development Corporation is one of 61 CFDCs 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