Speaking Points
The Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario)
Peterborough, Ontario
November 29, 2013 (Afternoon Event)
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Hello. Bonjour. Thank you, Dr. Franklin, for that kind introduction. C'est un grand plaisir d'être avec vous aujourd'hui.
Welcome ladies and gentlemen, friends and honoured guests.
I am very pleased to see all of you here today.
Ladies and gentlemen, I am delighted to have been invited here to Peterborough to speak about how our Government is continuing to support this region's economic growth and prosperity.
Let me first take a moment to thank our host, Trent University. You continue to play an important role in the economic development of eastern Ontario. You have worked tirelessly to grow businesses and contribute to the economy of the southern Ontario region.
Earlier this morning, I had the pleasure of speaking at the Ontario East Economic Development Commission's quarterly meeting in Winchester. We are fortunate to have so many great economic development partners here in eastern Ontario.
Here in eastern Ontario, the economy is an important part of southern Ontario's overall prosperity. Efforts here need to reflect the local realities of eastern Ontario.
I am proud that one of the tools that is available to help respond to the local realities and tailored to eastern Ontario is the Eastern Ontario Development Program. Since 2004, five years before FedDev Ontario took over the management of this program, EODP has been creating and protecting jobs in the region with the goal of developing opportunities for the future growth of local communities and businesses.
In fact, since its inception, our Government has invested over $80 million in EODP funding through more than 7,636 businesses and community development projects in eastern Ontario. This has led to additional support of $345.6 million from partners such as local businesses, municipalities, and the Government of Ontario.
It is important to note that the Eastern Ontario Development Program that is only accessible to businesses in eastern Ontario because the needs of this region differ from the rest of the province. In the near future, I look forward to making an announcement regarding the other initiatives available at FedDev Ontario, which will also be open to applications from this region. So stay tuned!
Friends, our Government understands that small- and medium-sized enterprises, entrepreneurs and economic development organizations, such as yours, play a crucial role in job creation and Canada's competitiveness.
And, we are confident that we have set the right macro-economic conditions, applied through a whole-of-government approach, and the necessary supports for these organizations and business to succeed and the economy grows.
We have effectively balanced fiscal restraint with priority and targeted spending. We have extended the temporary accelerated capital cost allowance for machinery and equipment, ensured fair and transparent government procurement, provided important and timely job training and a competitive business tax system that encourage new investments and job creation. And we have invested directly in game-changing projects and growing companies where the return on our investment will be of direct benefit to taxpayers and the country.
As Minister of State for the Federal Economic Development Agency for Southern Ontario, or FedDev Ontario, I have had the privilege to meet with people from all across the region. And it is no surprise that the number one priority for them is the economy. This is true for all Canadians and I want you to know that our Government remains committed to keeping economic issues our top priority.
Since its creation in 2009, in just under five years, FedDev Ontario has committed more than $1.1 billion, resulting in partnerships with more than 5,300 organizations and over $1.5 billion in additional leveraged investments from almost exclusively non-government sources to support businesses, manufacturers, organizations and communities in southern Ontario.
Our efforts so far have put thousands of people in the region back to work by spurring increased innovation, encouraging entrepreneurship and enhancing collaboration. This has improved productivity and allowed us to more effectively compete with other economies around the world.
So we are doing our part to restore southern Ontario's economic prominence, and we will continue to do so by retaining, attracting and growing businesses—helping to ensure they have everything they need to be successful.
As you may be aware, the Agency was renewed with an additional $920 million in funding in Economic Action Plan 2013. This will help ensure we can continue to support the growth and diversification of the southern Ontario economy, through investments in the people and ideas that will help this region succeed, grow and continue to contribute to increased economic prosperity to Canada as a whole.
Friends, I can't think of a more fitting audience to be with to announce the renewal of Eastern Ontario Development Program with an investment of $48 million over five years, starting in April 2014. Let me repeat this last point, because this is an important message and a first for EODP in that this Government is making a long-term commitment— five years—to support economic projects in eastern Ontario.
This five-year renewal will give businesses and communities the chance to pursue new opportunities that are strategic and long-term, to help the economy grow and create jobs. That is good news for businesses and communities in eastern Ontario.
Friends, I am very pleased that the 15 Community Futures Development Corporations, or CFDCs, located throughout the region and the Eastern Ontario Community Futures Development Corporation Network (EOCFDC Network), will continue to take a lead role in delivering the Eastern Ontario Development Program since they understand local and regional conditions and are well-placed to address local needs and opportunities in their communities and across the region.
I want to take a moment to congratulate the dedicated staff of the Community Futures Development Corporations for their collaboration with FedDev Ontario and highlight their invaluable service they have provided to their communities for over 25 years.
I am also excited about working with the EOCFDC Network that will provide on-the-ground support to encourage collaborative regional projects across eastern Ontario.
The success of the Eastern Ontario Development Program is a testament to what can be achieved when government listens to the needs of its citizens and takes action to support their vision.
I would encourage you to go to the Agency's website or call the toll-free number for more information.
Let me say how proud I am to be part of a government that is getting things done for the people of eastern Ontario and for all Canadians.
Folks, let me just conclude by saying that I know that everyone in this room understands the value and importance of effective programs and services geared towards strong economic growth.
I'd be happy to answer your questions.
Thank you.
