MP Announces Funding to Help Boost Local Economy

SMITHS FALLS, Ontario, July 12, 2006 — Lanark-Frontenac-Lennox and Addington MP, Scott Reid, on behalf of the Honourable Tony Clement, Minister of Health and Minister for FedNor, today announced $869,998 to the Valley Heartland Community Futures Development Corporation (CFDC).

“Canada’s new government believes that small businesses drive the economy in our small town and rural communities,” said Mr. Reid. “Our investment in Valley Heartland CFDC will support small and medium-sized businesses looking to create jobs. The CFDC’s efforts will complement our budget’s significant tax breaks for small businesses.”

Valley Heartland CFDC will use the funding to provide services to support local economic development and small business growth, including: access to capital, business services, support for community-based projects, and strategic community planning and socio-economic development.

In the last five years, Ontario CFDCs have provided loans and business counselling services to help the small business sector create or maintain 27,000 jobs. Last year, the Valley Heartland CFDC invested $845,167 and assisted in creating or maintaining 105 jobs, contributing to an enhanced business community.

“We are proud of the contributions we have made to the region and this funding will allow us to continue to support local and regional economic diversification and development initiatives,” said Valley Heartland CFDC Chair, Allan Thom.

To find out more about Ontario CFDCs, visit: http://cfdc-ontario.ic.gc.ca

For more information or to speak with Mr. Reid
Please call (613) 257-8130 or (613) 947-2277.

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