Government of Canada Launches Program to Support Eastern Ontario's Prosperity

WINCHESTER, ONTARIO--(Marketwired - Nov. 29, 2013) - Today, the Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), along with Guy Lauzon, Member of Parliament for Stormont-Dundas-South Glengarry, announced an investment of $48 million for the renewal of the Eastern Ontario Development Program (EODP).

Minister Goodyear made the announcement at the quarterly meeting of the Ontario East Economic Development Commission (Ontario East). Ontario East represents over 200 communities, with more than two million residents and promotes eastern Ontario as a centre for investment.

"I am proud to announce that our Government will continue to promote business development, job creation and strengthening communities in rural eastern Ontario with the renewal of EODP," said Minister Goodyear. "Through EODP, the Agency will continue to act as a champion within this region, encouraging new partnerships and project development for the expansion of community economic assets, business growth and business infrastructure/services to help create jobs, growth and long-term prosperity."

Over the next five years, starting in April 2014, EODP will promote strategic economic development in eastern Ontario that will have a long-term impact in the region.

To date, the Agency has invested over $80 million through 7,636 business and community development projects. This has led to additional support of $345.6 million from partners such as local businesses, municipalities and the Government of Ontario.

The success of EODP is based on a strong delivery model which utilizes the 15 Community Futures Development Corporations (CFDCs) in eastern Ontario and the Eastern Ontario Community Futures Development Corporation Network Inc. The EODP renewal means that these organizations will continue to assess and fund projects that help make rural eastern Ontario communities better places to live and work.

"Our Government understands that small- and medium-sized enterprises, entrepreneurs and economic development organizations, play a crucial role in job creation and Canada's competitiveness," said MP Lauzon. "This is why the renewal of this program demonstrates our Government's commitment to providing the right tools for our region to stay competitive and prosper into the future."

"We are very pleased to have Minister Goodyear participate in our fall quarterly meeting," said Craig Kelley, President of the Ontario East. "The Ontario East Economic Development Commission shares FedDev Ontario's goal of creating strong and vibrant economic future for eastern Ontario."

"The EODP has been a catalyst for business and community development across eastern Ontario for a number of years," said Christine Dukelow, Chair, Eastern Ontario Network Inc. Board of Directors. "We are pleased to continue our collaboration with the Government of Canada so that Community Futures Development Corporations can support projects that will grow and diversify the regional economy."

To find out more about the Eastern Ontario Development Program and how to access program funding, please refer to the backgrounder.

Created in 2009, FedDev Ontario supports the southern Ontario economy by building on the region's strengths and creating opportunities for jobs and economic growth. In Budget 2013, the Government of Canada demonstrated its continued commitment to workers, families and communities in southern Ontario with the renewal of FedDev Ontario. Economic Action Plan 2013 provides $920 million over five years for the Agency, starting on April 1, 2014. As part of the renewal, FedDev Ontario will be allocating $200 million over five years for a new Advanced Manufacturing Fund in Ontario. To learn more, please visit www.FedDevOntario.gc.ca or call 1-866-593-5505.

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IF THERE IS A DISCREPANCY BETWEEN ANY PRINTED VERSION AND THE ELECTRONIC VERSION OF THIS NEWS RELEASE, THE ELECTRONIC VERSION WILL PREVAIL.

This news release is available online at: www.FedDevOntario.gc.ca.

Backgrounder

Eastern Ontario Development Program

The Eastern Ontario Development Program is an economic development initiative focused on addressing economic challenges in eastern Ontario and taking advantage of innovative opportunities in the region. Since its inception in 2004, this successful program has been renewed several times. The five-year renewal of the program, effective April 1, 2014, is expected to result in more strategic, long-term economic development investments and collaborative projects that will benefit eastern Ontario businesses and communities.

The Government of Canada's renewed commitment to the program is based on its success. This success is due to the strong delivery model which utilizes the eastern Ontario's
15 Community Futures Development Corporations (CFDCs) and the Eastern Ontario Community Futures Development Corporation Network Inc. (EOCFDC Network). Applications will be solicited by each CFDC and EOCFDC Network and assessed on their potential to stimulate local and regional economic development and create jobs.

The renewed Eastern Ontario Development Program focuses on outcomes that align with the federal government's priority to promote the development of a strong and diversified economy. CFDCs and the EOCFDC Network will consider project proposals in the following three areas:

• Business Development (BD): Promote growth of new and existing businesses in rural eastern Ontario communities.

• Community Innovation (CI): Advance community-led economic development to enhance and diversify local economies.

• Collaborative Economic Development Projects (CEDP): Support collaborative economic development projects that demonstrate benefits to multiple communities.

CFDCs and the EOCFDC Network will deliver funding to eligible recipients to undertake projects that address local and regional issues, challenges, and opportunities in rural eastern Ontario.

Eligible project recipients include:

• Not-for-profit organizations, including municipalities and municipal organizations, corporations, community economic development organizations;
• Commercial enterprises, including individuals, corporations, partnerships, cooperatives, or trusts;
• Aboriginal organizations; and
• Post-secondary institutions.

Since the program was launched in 2004, CFDCs have achieved the following results by working with community stakeholders from across the region to develop and implement projects that benefit the local economy:

• More than $80 million has been invested in more than 7,636 business and community development projects;
• More than 63,356 people have received work-related training; and
• An additional $345.6 million has been leveraged from partners such as local businesses, municipalities and the Government of Ontario, at a ratio of $1: $4.41.

The following organizations will be accepting project applications for the Eastern Ontario Development Program:

- 1000 Islands Community Development Corporation

- Community Futures Development Corporation of North & Central Hastings and South Algonquin

- Frontenac Community Futures Development Corporation

- Greater Peterborough Community Futures Development Corporation

- Grenville Community Futures Development Corporation

- Haliburton County Development Corporation

- Kawartha Lakes Community Futures Development Corporation

- Northumberland Community Futures Development Corporation

- Prescott-Russell Community Development Corporation

- Prince Edward/Lennox & Addington Community Futures Development Corporation

- Renfrew County Community Futures Development Corporation

- South Lake Community Futures Development Corporation

- Cornwall and Counties Community Futures Development Corporation

- Trenval Business Development Corporation

- Valley Heartland Community Futures Development Corporation

- Eastern Ontario Community Development Corporations Network