Through FedDev, the Harper government has announced it’s investing millions to help businesses succeed in southwestern Ontario. The exact number that Federal Economic Development Agency for Southern Ontario (FedDev Ontario) will be sending the Western Ontario Community Futures Development Corporation Association (WOCDFCA) is $3,227,750.
WOCFDCA stated in its announcement that the money will go to “support the growth of small- and medium-sized enterprises in southwestern Ontario.” The investment will also match $3,227,750 from the Southwestern Ontario Community Futures Development Corporations (CFDCs) and bring the total funds to $6.2-million, which in turn create a 6.2-million investment fund “to strengthen regional diversification efforts” and help find a “new generation of entrepreneurs.”
Gary Goodyear, Minister of State for FedDev Ontario, said, “Our Government is committed to providing the right resources to small- and medium-sized enterprises to support succession planning. Today’s announcement will provide the WOCFDCA with the investment capital to support the transfer of businesses to a new generation of entrepreneurs and enable our economy to remain strong and diverse.”
Frank Rupcic, Chair of WOCFDCA, said, “The WOCFDCA appreciates the confidence that FedDev Ontario has shown in our organization by providing us with this additional capital for businesses in Southwestern Ontario. We will continue to employ all our resources to ensure these new funds generate more business start-ups, expansions and job creation for our communities.”