Moose Factory, ON - Federal Economic Development Agency for Northern Ontario - FedNor
Across the country, Community Futures Development Corporations (CFDCs) are helping entrepreneurs start or expand their businesses, in addition to investing in communities to strengthen the economy. In Northern Ontario, these community-based, not-for-profit organizations are working hard to create jobs and provide a full range of business development services, including access to capital, mentoring, information and referrals, as well as support for community economic development, recovery efforts and local priority projects.
The Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor, and Member of Parliament for Thunder Bay-Superior North, today announced a FedNor investment of $320,000 to support the ongoing operations of the Wakenagun Community Futures Development Corporation. Specifically, this funding will enable the organization to offer community and business support services, as well as access to capital for small and medium-sized businesses for a one-year period. This project is expected to create five jobs and maintain an additional six.
The Wakenagun Community Futures Development Corporation is one of 24 CFDCs funded by FedNor to serve Northern Ontario businesses and communities. CFDCs are run by volunteer boards and staffed by experienced business and economic development professionals.
Today's announcement is part of the Government of Canada's commitment to Canadian entrepreneurs and businesses to help them overcome the challenges posed by COVID-19. Initiatives like these will assist Canadians to get back to work and ensure that small businesses, which are the backbone of the Canadian economy, can play a major role in Canada's economic recovery.
