RRFDC gets $300,000 from feds to keep operating

Kenora-Rainy River MP, Bob Nault, announced a federal investment of $300,000 to the local Community Futures Development Corporation (CFDC) known as the Rainy River Futures Development Corporation.
“Rainy River Futures Development Corporation makes a very positive impact on business in the Rainy River District,” said Nault. “This funding enables the organization to continue playing a strong role in strategic planning and economic development for the area.”
FedNor’s investment consists of $250,000 toward the continuing operations of the CFDC, as well as $50,000 for its Local Initiatives program, which is used for community economic development projects within the CFDC’s catchment area.
In the last five years, Northern Ontario CFDCs have successfully invested more than $90 million through loans and business counselling services to create or maintain 12,702 jobs in the North. Last year, the Rainy River district CFDC invested $1,328,786, which assisted in creating or maintaining 30 jobs, contributing to an enhanced business economy.
CFDCs are designed to develop and implement long-term, community-based economic development initiatives. They employ local staff and are governed by a volunteer Board of Directors made up of local residents representative of the community at large.
“FedNor’s support affirms our role as a key player in the area’s growth,” said Telford Advent, chair of the Rainy River Futures Development Corporation. “It empowers us to pursue an overall mandate of fostering employment opportunities within the Rainy River District through community economic development and assistance to small businesses.”
“The strength of this organization is based on the dedication of the volunteers,” concluded Nault. “The commitment of time and the expertise they bring to the table enables this corporation to continue to look for ways in which to diversify the economy in Northwestern Ontario. I would like to personally thank the board for their dedication.”