Government of Canada Invests $6.3M to Support Eastern Ontario Business Development
August 15, 2016 – Cobourg, Ontario – Federal Economic Development Agency for Southern Ontario (FedDev Ontario)
Residents of eastern Ontario will benefit from more jobs for the middle class – and those working hard to join it – as a result of a $6.3-million investment under the Eastern Ontario Development Program (EODP) to support Collaborative Economic Development Projects (CEDP), which will be delivered to all of eastern Ontario by the Northumberland Community Futures Development Corporation (CFDC).
The investment in the Northumberland CFDC was announced today by Kim Rudd, Member of Parliament for Northumberland-Peterborough South, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).
The Government's Innovation Agenda aims to make Canada a global centre for innovation – one that creates jobs, drives growth across all industries and improves the lives of all Canadians. This Government of Canada investment, through FedDev Ontario, is a prime example of that vision in action.
The investment is expected to create 150 highly skilled full-time equivalent jobs and maintain 150 more and as a result, it will give eastern Ontario small- and medium-sized enterprises (SMEs) the boost they need to integrate cutting-edge processes, commercialize new products and access new markets.
The Northumberland CFDC will work with eligible project recipients to undertake projects that promote the growth of new and existing businesses, and support community-led economic development projects that enhance and diversify the economy of eastern Ontario.
As of today, applications can be submitted online through the Northumberland CFDC website. The review process will begin on September 1, 2016.
"The Government of Canada supports innovation – and innovators – by creating conditions that are attractive for growth and investment, and CEDP will help businesses in eastern Ontario get to the next level of achievement."– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedDev Ontario
"By providing small businesses with the opportunity to take their products and services to the next level, CEDP will provide for a stronger and more diversified eastern Ontario economy."– Kim Rudd, Member of Parliament, Northumberland-Peterborough South
"Innovation is the primary focus of this round of Collaborative Economic Development Projects. We will be seeking to support the adoption and commercialization of cutting-edge technologies, products and processes that drive the success and expansion of eastern Ontario's economy."– Wendy Curtis, Executive Director, Northumberland CFDC
- Collaborative Economic Development Projects are expected to support 45 SMEs and five organizations, as well as establish 35 partnerships with businesses, not-for-profit organizations or levels of government. It is anticipated that $5.67 million will be leveraged from private, not-for-profit and other government investments.
- The Northumberland CFDC is funded by FedDev Ontario through the Community Futures Program. 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 board of directors, made up of local residents representing the community.
- The EODP advances economic development in rural eastern Ontario. Through EODP, FedDev Ontario is collaborating with CFDCs in eastern Ontario to promote the growth of new and existing businesses in rural communities.
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