FedNor delivers PACE funding

News — 28 January 2011

Kenora MP?Greg Rickford addresses the Patricia Area Community Endeavours annual general meeting, Jan. 18, to announce over a million dollars in funding over the next three years to help the local Community Futures Development Corporation support small and medium-sized businesses in the area. Photo by Chris Marchand

Patricia Area Community Endeavours (PACE) received a welcome boost, Jan. 18 as FedNor announced $1,035,000 in funding over the next three years.

The announcement was made at the PACE annual general meeting by Kenora MP Greg Rickford on behalf of the Honourable Tony Clement, Minister of Industry and Minister responsible for FedNor.

The regional agency that supports small business development and innovation will use $960,000 of the funds to support ongoing operations — offering business support services and access to capital for small and medium-sized businesses. A remaining $75,000 will be used to support local and regional economic development projects within PACE’s catchment area.

“Today’s announcement will enable us to act as a catalyst for economic development to build a brighter future in our region,” said PACE chair James Brohm. “In addition, this funding will assist us in our leadership role in helping communities compete in a diverse global economy.”

PACE is one of 24 Community Future Development Corporations funded by FedNor to serve Northern Ontario businesses and communities. CDFC’s are community-based not-for-profit organizations run by volunteer boards and staffed by experienced business and economic development professionals.

MP Greg Rickford says that continued support for PACE helps support job creation in the area.

“The Government of Canada recognizes that investing in small business makes good economic sense,” said Rickford. “Last year, funding provided through the Community Futures program enabled Patricia Community Endeavours to assist more than 26 local businesses to create or maintain more than 60 jobs.”

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