PARRY SOUND, Ontario — The Honourable Tony Clement, Member of Parliament for Parry Sound-Muskoka, Minister of Industry and Minister responsible for FedNor, today announced a Government of Canada investment of more than $1.8M, aimed at providing a solid foundation for economic recovery and development efforts in the Parry Sound area.
The announcement marked the end of a tour of Northeastern Ontario, where Minister Clement highlighted successful projects to be funded through the Community Adjustment Fund (CAF), one of several initiatives introduced in Canada’s Economic Action Plan. Up to $31.4M will be invested through the CAF program to support key projects in communities across Northern Ontario that are struggling with the effects of the global economic downturn.
“Today’s announcement is an excellent example of our government’s ongoing commitment to help fuel the economy of the Parry Sound region,” said Minister Clement. “This investment will help create jobs, stimulate economic activity, while promoting long-term growth and prosperity throughout the area.”
The Town of Parry Sound will receive more than $1.2M through the Community Adjustment Fund, allowing them to expand municipal infrastructure to accommodate the construction of a local Canadore College campus. In addition, the Minister announced FedNor funding of $527,500 in support of two other community economic development projects (see attached information sheet).
“These investments reinforce the vital role the Government of Canada continues to play in the future prosperity of this area,” said Richard Adams, Mayor of Parry Sound. “I look forward to the significant and positive impact this funding will have on our immediate and long-term economic development activities.”
Before funding can be issued as part of CAF, proponents of selected projects must meet the terms and conditions set out in their CAF agreement. A complete list of CAF projects in
Northern Ontario is now available online at:
http://ic.gc.ca/caf.
A complete list of FedNor funded projects is available at:
http://ic.gc.ca/fednor.
