Regional economic development agencies across the southern part of Ontario—including Eastern Ontario are receiving nearly $40 million in federal funding.

On February 13, at Brasserie Tuque de Broue brewery in Embrun, Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), along with Francis Drouin, Member of Parliament for Glengarry–Prescott–Russell, announced an investment of nearly $40 million over the next three years for southern Ontario’s network of Community Futures Development Corporations (CFDCs).

“I can’t wait to see the success stories that come out of this much needed investment,” Tassi said.

Through the federal Community Futures Program, this continued investment will allow the 36 CFDCs and three CFDC associations in southern Ontario to continue on their path of growth. The Prescott-Russell Community Development Corporation CFDC serves the United Counties of Prescott and Russell territory. These organizations offer expert knowledge and tailored on-the-ground support to the rural businesses, organizations and communities they serve. This includes providing business counselling and access to capital, as well as support for community economic development and strategic community economic planning. Supporting them ensures they can help rural businesses be the best they can be.

Brasserie Tuque de Broue Brewery in Embrun received past support through the Prescott-Russell CFDC which allowed them to grow their facilities and generate more business. Since then, the company has become a strong ambassador for the region, winning the Manufacturing Business Award at the Prescott-Russell CFDC’s Gala of Excellence in 2022.

Prescott-Russell Community Development Corporation Executive Director John Candie welcomed the announcement. He said the funding is needed after challenges local small businesses have faced during the past three years of the pandemic.

“Today’s announcement couldn’t come at a better time,” Candie said.

“Canada’s economic future depends on the ability for small businesses to grow,” he remarked.