Federal Economic Development Agency for Southern Ontario

Federal Economic Development Agency for Southern Ontario

September 09, 2011 09:30 ET

The Government of Canada Highlights the Contributions of Small Businesses and Entrepreneurs to the Economy

ST. CATHARINES, ONTARIO--(Marketwire - Sept. 9, 2011) - Today, the Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario was at the Niagara Interactive Media Generator (nGen) in St. Catharines to help celebrate the substantial economic contributions being made by small business owners and entrepreneurs across the country. He was joined by Rick Dykstra, Member of Parliament for St. Catharines.

"Our government is taking the necessary steps to ensure that Canadian businesses drive innovation, productivity, job creation and economic growth," said Minister of State Goodyear. "We look forward to supporting entrepreneurs as they create jobs in St. Catharines."

Small and medium-sized businesses account for nearly 99 percent of the 1.1 million employers in Canada. Of these, 98 percent employ fewer than 100 people and approximately three quarters have fewer than 10 employees. Furthermore, these small businesses are responsible for about half of the total jobs in the private sector.

"By investing in key economic development projects like nGen, we are maintaining and further establishing St. Catharines and the Niagara region as a key contributor to the economy," said MP Dykstra.

To help support these engines of the economy, the Government of Canada is lowering the small business tax rate, reducing the regulatory burden and ensuring that companies have the tools they need to succeed.

The Government of Canada invested $3,028,000 dollars for the Niagara Interactive Media Generator (nGen) through FedDev Ontario's Community Adjustment Fund. This investment has helped nGen expand its facilities and strengthen its sustainability as a hub for interactive media development in St. Catharines and the Niagara Region.

The Community Adjustment Fund in southern Ontario has created immediate employment opportunities and support for local economies that have been struggling with the effects of the global economic downturn.

FedDev Ontario was created as part of Canada's Economic Action Plan to support businesses and communities in southern Ontario. Now in its third year of operation, the Agency has launched 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 or call 1-866-593-5505.

Contact Information

  • Gary Toft
    Director of Communications
    Office of the Honourable Gary Goodyear
    Minister of State for FedDev Ontario

    Media Relations
    FedDev Ontario