Canada Economic Development

Canada Economic Development

March 29, 2010 15:38 ET

Canada Economic Development Extends Additional Budget for CFDCs, BDCs and CEDCs by One Year

MONTREAL, QUEBEC--(Marketwire - March 29, 2010) - The Honourable Denis Lebel, Minister of State for the Economic Development Agency of Canada for the Regions of Quebec, has confirmed the renewal for one year of the financial support provided to the Community Futures Development Corporations (CFDCs), Business Development Centres (BDCs), Réseau des SADC (CFDC and BDC network) and Community Economic Development Corporations (CEDCs). This assistance comes under the Community Futures Program (CFP) and amounts to some $33 million for 2010-2011.

"Despite the hard economic times," stated Minister Lebel, "the Government of Canada has decided to extend the additional funding awarded to those economic organizations."

The renewal of this funding for one year is taking place at a time when the government has announced a series of measures in the Budget aimed at restoring a balanced budget and pursuing implementation of Canada's Economic Action Plan, which helps create employment and support the economy of the regions.

"The coming year will be a period of transition," the Minister noted, "enabling the government to ensure that its intervention with respect to local development is consistent with taxpayers' ability to pay. Some hard choices will have to be made, and indeed our partners will be invited to contribute their views in that regard."

The Community Futures Program (CFP) supports local economic development and strengthens the ability of communities to achieve their full potential in a sustainable way.

Contact Information

  • Canada Economic Development
    Sandra Duchesne
    Media Relations
    Canada Economic Development
    Office of the Honourable Denis Lebel
    Simon Bachand - Press Secretary