Harper Government invests in regional diversification in southwestern Ontario
July 9, 2015 By Western Ontario Community Futures Development Corporation Association
July 9, 2015 – FedDev Ontario Minister Gary Goodyear has announced a contribution of $3,227,750 to the Western Ontario Community Futures Development Corporation Association (WOCDFCA) to support the growth of small- and medium-sized enterprises in southwestern Ontario.
With this investment, the WOCFDCA is establishing a $6.2-million investment fund to strengthen regional diversification efforts across southwestern Ontario. The federal contribution is leveraging $3,227,750 in matching funding from the network of southwestern Ontario Community Futures Development Corporations (CFDCs).
The project will provide a critical source of capital to support the transfer of businesses to a new generation of entrepreneurs, as well as serve other regional diversification needs in rural southwestern Ontario.
Through this fund, the Association expects to support 37 small-and medium-sized enterprises by providing access to capital for business development, transfers and other business retention and expansion activities.
The federal contribution, through the Investing in Regional Diversification (IRD) initiative, is aimed at supporting the long-term development of stronger, more diverse economies in southern Ontario communities. IRD leverages unique regional assets and local expertise to attract new investment and opportunities for economic growth and development.
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