Minister Clement Announces Support for Small Business Growth in Muskoka Region

BALA, ONTARIO--(Marketwire - Jan. 8, 2011) - The Honourable Tony Clement, Member of Parliament for Parry Sound—Muskoka, Minister of Industry and Minister responsible for FedNor, today announced a Government of Canada investment, through FedNor, of $875,000 to support small business development and growth in the Muskoka region.

"The Government of Canada is committed to encouraging small business growth and economic development in the Muskoka region and across Northern Ontario," said Minister Clement. "That's why we are pleased to support the Muskoka Community Futures Development Corporation to develop businesses throughout the region, which stimulates economic activity and creates local jobs."

Of the total, $500,000 is helping the Muskoka Community Futures Development Corporation (CFDC) to provide local businesses with access to capital for start-up, expansion or stabilization projects. The organization also received $300,000 to support its ongoing operations for a one-year period. The remaining $75,000 will enable the CFDC to continue to support its local initiatives contributions program, which funds a variety of local and regional community economic development projects.

FedNor supports the creation, growth and success of small and medium-sized businesses through the Government of Canada's Community Futures Program. The Muskoka Community Futures Development Corporation is one of 24 CFDCs funded by FedNor to serve Northern Ontario businesses and communities. CFDCs are community-based, not-for-profit organizations run by a board of local volunteers and staffed by experienced business and economic development professionals.

"Today's announcement will be of great benefit to local entrepreneurs and the communities served by the Muskoka CFDC," said Marguerite Urban, Board Chair, Muskoka Community Futures Development Corporation "This FedNor investment will help us boost the regional economy, create jobs and promote long-term growth and prosperity throughout the area."

To find out more about FedNor, visit us at: http://ic.gc.ca/FedNor. To find out more about the Community Futures Program, visit: http://ic.gc.ca/cfdc-ontario