Government of Canada Investment Promotes Business Development and Growth in Parry Sound and Surrounding Areas

News Release

July 8, 2016 – Parry Sound, ON – Federal Economic Development Initiative for Northern Ontario – FedNor

The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and Minister responsible for FedNor, today announced a FedNor investment of $300,000 in support of job creation, and small business development and growth in the region that includes the town of Parry Sound, the municipalities of Whitestone, McDougall and Magnetawan, and the townships of McKellar, Seguin, Archipelago and Carling.

The FedNor contribution will support the ongoing operations of the Parry Sound Area Community Business and Development Corporation (CB&DC) for a one-year period. Specifically, FedNor funding will enable this not-for profit, business-focused organization to provide small and medium-sized enterprises with business counselling services and access to capital, as well as support for community strategic planning initiatives.

Quick Facts

  • The funding announced today is provided through FedNor's Community Futures Program, which supports projects that promote sustainable community economic development, enhance business development and growth, and facilitate innovation.
  • Based in Parry Sound, the Parry Sound Area CB&DC is one of 24 Community Futures Development Corporations (CFDCs) funded by FedNor to serve Northern Ontario businesses and communities. CFDCs are community-based, not-for-profit organizations run by volunteer boards and staffed by experienced business and economic development professionals.

Quotes

"The Government of Canada is committed to partnering with Community Futures organizations, such as the Parry Sound Area CB&DC, to encourage economic growth, job creation and long-term prosperity throughout rural Canada. These grassroots, business-focused organizations help us create the right conditions for entrepreneurial and business success."

– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and Minister responsible for FedNor

"I would like to thank the Government of Canada and FedNor for investing in the people and businesses in the Parry Sound area. Today’s announcement will allow us to continue to work closely with entrepreneurs, and small and medium-sized businesses to ensure they have the tools, expertise and resources needed to take advantage of growth opportunities that will strengthen the area’s economy and create jobs."

– Ken Gallinger, Chair Parry Sound Area CB&DC

Associated Links

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Contact

Barclay Babcock
Communications Officer - FedNor
705-690-0957
Barclay.Babcock@canada.ca


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Hon. Navdeep Singh Bains FedNor Economics and Industry

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