Government of Canada supports small businesses in Niagara
February 11, 2022
Wainfleet, Ontario — The Honourable Rob Nicholson, Member of Parliament for Niagara Falls, Minister of Justice and Attorney General of Canada, on behalf of the Honourable Gary Goodyear, Minister of State (FedDev Ontario), today announced that small businesses in the Niagara Region will benefit from a new $634, 285 investment in the South Niagara Community Futures Development Corporation.
“The Government of Canada is proud to invest to help rural communities in the Niagara Region and across Canada strengthen and diversify their local economies,” said Nicholson, “It will also give small- and medium-sized businesses in southern Ontario opportunities to grow and create new jobs.”
The announcement is part of a larger investment of up to $11.1 million through the Community Adjustment Fund for 13 Community Futures Development Corporations (CFDCs) in southern Ontario. The additional funding will enable the CFDCs to increase access to capital for rural small businesses and not-for-profit organizations.
"Providing capital to companies like Kwik Mix Materials helps fuel our economy,” said Sandy White, chair of South Niagara Community Futures Development Corporation. "Thanks to additional support from the Government of Canada, our corporation will continue to invest in many more businesses, whether they are start-ups, or early stage companies prime for growth.”
The Community Adjustment Fund is just one in a series of initiatives introduced in the Government of Canada’s Economic Action Plan designed to address the short-term effects of the global economic downturn on communities across Canada, while preparing communities for long-term growth.
FedDev Ontario delivers the Community Adjustment Fund in southern Ontario and has invested in a variety of projects that support economic development, innovation, diversification and job creation, including $27.8 million committed to CFDCs in 2009/2010.
FedDev Ontario supports 37 Community Futures Development Corporations in southern Ontario that serve rural businesses and communities. Funded through the Community Futures Program, these community-based, not-for-profit organizations offer a wide variety of programs and services supporting community economic development and small business growth and are run by a board of local volunteers and staffed by experienced business professionals. For more information, visit www.ontcfdc.com.
FedDev Ontario was created as part of Canada’s Economic Action Plan to support businesses and communities in southern Ontario. Now in its second year of operation, the Agency is delivering a number of initiatives to create a Southern Ontario Advantage and place the region in a strong position to compete in the global economy. These initiatives are designed to support businesses and other organizations through partnerships and investments in skills and training; innovation; research and development; and increased productivity. To learn more, please visit www.feddevontario.gc.ca.
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