Eagle Lake First Nation’s Jim Kavanaugh, Chief Pam Pitchenese,
Dryden Mayor Anne Krassilowsky and Greg Rickford, MP

DRYDEN, Ontario — Greg Rickford, Member of Parliament for Kenora, on behalf of the Honourable Tony Clement, Minister of Industry and Minister responsible for FedNor, today announced a multi-million dollar Government of Canada investment, aimed at providing a solid foundation for economic recovery and development efforts across Northern Ontario.

Up to $31.4M will be invested through the Community Adjustment Fund (CAF), one of several initiatives introduced as part of Canada’s Economic Action Plan. It is the government's intention to support a total of 55 projects in communities across Northern Ontario that are struggling with the effects of the global economic downturn.

“Our government is taking action to help strengthen Northern Ontario’s economy,” said Minister Clement. “This $31.4M investment through the Community Adjustment Fund, delivers on our commitment to develop a competitive and diversified economy, create jobs and ensure long-term growth and prosperity throughout the region.”

MP Rickford announced that two regional initiatives in the Dryden area have been selected for CAF funding totalling $2.3M. In addition, 11 projects worth more than $3.7M will be supported in the Kenora region (see attached information sheet).

MP Rickford also announced a significant FedNor investment of more than $1.47M in support of three community economic development projects (see attached information sheet). The funding will come from FedNor’s Northern Ontario Development Program, designed to create new economic opportunities and encourage sustainable growth.

“These initiatives are local priorities that will address local needs and enable the communities in this area to expand, attracting business and creating jobs,” added MP Rickford.

“On behalf of the residents of the Dryden region, I want to acknowledge the Government of Canada’s strong support,” said Anne Krassilowsky, Mayor of Dryden.  “This funding will help us develop our business parks, a key component in our city’s Master Plan to develop business opportunities.” 

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. Over the next week, a complete list of CAF projects will be made available online at: http://ic.gc.ca/caf.

A complete list of FedNor funded projects is available at: http://ic.gc.ca/fednor.