Government of Canada invests to develop West Nipissing and Sudbury East small business

STURGEON FALLS, Ontario, July 16, 2010 — The Honourable Tony Clement, Minister of Industry and Minister responsible for FedNor, announced that the Government of Canada, through FedNor, is investing $395,000 to support small business development and growth in the West Nipissing and Sudbury East regions. This support will enable Economic Partners-Sudbury East/West Nipissing Inc. to offer access to capital for new and existing small and medium-sized businesses in the form of repayable loans, equity and loan guarantees.

“Small businesses are the backbone of Canada’s economy. The Community Futures Program is a cornerstone of our government’s efforts to develop and grow small businesses in Northern Ontario and across the country,” said Minister Clement. “Funding provided through the Program enables Economic Partners-Sudbury East/West Nipissing Inc. to assist local businesses in reaching greater heights of success while creating employment opportunities in the region.”

FedNor supports the creation, growth and success of small and medium-sized businesses through the Government of Canada’s Community Futures Program. Economic Partners-Sudbury East/West Nipissing Inc. 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 a board of local volunteers and staffed by experienced business and economic development professionals.

“Today’s announcement will ensure that local entrepreneurs and businesses continue to have access to the tools and services they need to be successful,” said Royal Poulin, Board Chair, Economic Partners-Sudbury East/West Nipissing Inc. “This funding will enable us to meet the growing needs of our clients, while creating jobs and helping to strengthen the local economy.”

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

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For more information, please contact:

Lynn Meahan
Press Secretary
Office of the Honourable Tony Clement
613-995-9001

Media Relations
Industry Canada
613-943-2502

Barclay Babcock
Communications Officer
FedNor
705-671-0715 or 1-877-333-6673