Sault Ste. Marie Member of Parliament Terry Sheehan announced $1.5 million in operational funding in support of the Community Development Corporation of Sault Ste. Marie and Area (CDC) through Fednor. This funding will provide five years’ worth of operational funding to support community planning, business counselling and information services; access to capital, and community-based projects and economic diversification.
“This funding provides critical assistance for this vital business resource centre, making it possible for them to assist local small and medium size businesses in the form of loans, counselling, business, information, and developing relationships between the public and private sector to nurture the creation of sustainable jobs,” Sheehan said.
“On behalf of the Board of Directors and Staff, I’d like to thank the Federal Government for their continued support of the CDC of Sault Ste. Marie and Area,” said Dan Friyia, Executive Director of the CDC. “We have been receiving this support for years, and it has resulted in more than $19 million in loans and equity investments to 601 businesses helping to create or sustain 2,931 local jobs. These new funds will provide operating support over a five-year period allowing us to continue working towards economic prosperity for our region.”