$40 million invested in rural businesses

Par Claude Martel
$40 million invested in rural businesses

On February 13, the Honourable Filomena Tassi visited the Brassiere Tuque de Broue Brewery in Embrun to announce a financial support program centered around rural economic development. Tassi, who is in charge of the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), was joined by deputy minster Nancy Gardiner, chairperson of the Prescott-Russell Community Development Corporation (PRCDC) Eric Drouin, and MP for Glengarry-Prescott-Russell Francis Drouin.

“It’s great that we’re able to make this announcement here at this amazing brewery, your story is really amazing,” said Tassi. “I’m so happy to join you here in this beautiful rural community here in Embrun. This community is a great example of why increasing support for rural businesses is so important.”

Tassi went on to announce an investment of nearly $40,000,000 over the next three years into Southern Ontario’s 36 community future development corporations in three networks, which Eastern Ontario is included in. This will go toward business counselling, access to capital, and economic development and strategic planning support.

“I can’t wait to see the success stories that come out of this much-needed investment, and what our fantastic entrepreneurs will build and create right here in Embrun,” Tassi said.

With this investment, FedDev Ontario will be able to fund many more small and medium enterprises (SMEs) in southern Ontario. There are three application streams for three different kinds of funding: business scale-up and productivity, regional innovation, and community economic development and diversification. In each stream, businesses must describe the project they wish to undertake and how it will benefit the region, and demonstrate that they have the management and technical capacity to complete the project.

“I must state that the dedicated and knowledgeable staff and board members of the 36 southern Ontario CDCs and association are proud to be a part of one of Canada’s strongest, most efficient, and most valuable community futures program,” said John Candie, executive director of the PRCDC. “With over 1,400 employees, 3,000 volunteers, and once again with today’s exciting funding announcement, we will continue to make a difference in our rural communities.”

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