Harper Government Investment Supports Business Development and Growth in the East Algoma Region

News Release

January 13, 2015 – Blind River, Ontario – Industry Canada/FedNor

Member of Parliament Bryan Hayes (Sault Ste. Marie) on behalf of the Honourable Greg Rickford, Canada's Minister of Natural Resources and Minister for the Federal Economic Development Initiative for Northern Ontario (FedNor), announced today an investment to support small business development, growth and jobs, while strengthening the economy of East Algoma.

An investment of $1,600,000 will enable the East Algoma Community Futures Development Corporation to provide small and medium-sized enterprises with business counselling and access to capital, as well as support for community strategic planning initiatives over a five-year period.

Quick Facts

East Algoma Community Futures Development Corporation, based in Blind River, 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.
Since 2006, through the Community Futures Program, the Harper Government has invested $71 million in Northern Ontario Community Futures organizations in support of more than 140 projects. These investments have helped support more than 20,000 jobs through the CFDCs' lending and business counselling activities.

Quotes

“Our Government is proud to work with community partners, such as the East Algoma Community Futures Development Corporation, to help small and medium-sized enterprises grow, succeed and create jobs right here in Northern Ontario. Today's announcement will strengthen the regional economy by helping entrepreneurs achieve their business goals.”
- Bryan Hayes
Member of Parliament for Sault Ste. Marie

“We are honoured that FedNor and the Government of Canada continue to demonstrate their confidence in our organization to lead business and economic development initiatives in the region. We look forward to building on our successes over the next five years.”
- Vyrn Peterson
Chair, East Algoma Community Futures Development Corporation

Associated Links

To find out more about our programs and services, please visit: fednor.gc.ca and follow us on Twitter @FedNor.

Contacts

Alexandra Lemieux
Press Secretary
Office of the Honourable Greg Rickford
613-996-2007
Alexandra.Lemieux@NRCan-RNCan.gc.ca

Carol Deguire
Communications Officer
FedNor
705-255-6119 or 1-877-333-6673 Ext 303

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Date modified:: 2015-01-13

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Harper Government Investment Supports Business Development and Growth in the East Algoma Region

News Release

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