FedNor announces 0,000 for Wakenagun Community Futures Development Corporation

FedNor announces $320,000 for Wakenagun Community Futures Development Corporation

Federal Economic Development Agency for Northern Ontario – FedNor

Across the country, Community Futures Development Corporations (CFDCs) are helping entrepreneurs start or expand their businesses, in addition to investing in communities to strengthen the economy. In Northern Ontario, these community-based, not-for-profit organizations are working hard to create jobs and provide a full range of business development services, including access to capital, mentoring, information and referrals, as well as support for community economic development, recovery efforts and local priority projects.

The Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor, and Member of Parliament for Thunder Bay–Superior North, today announced a FedNor investment of $320,000 to support the ongoing operations of the Wakenagun Community Futures Development Corporation. Specifically, this funding will enable the organization to offer community and business support services, as well as access to capital for small and medium-sized businesses for a one-year period. This project is expected to create five jobs and maintain an additional six.

The Wakenagun Community Futures Development Corporation is one of 24 CFDCs funded by FedNor to serve Northern Ontario businesses and communities. CFDCs are run by volunteer boards and staffed by experienced business and economic development professionals.

Today’s announcement is part of the Government of Canada’s commitment to Canadian entrepreneurs and businesses to help them overcome the challenges posed by COVID-19. Initiatives like these will assist  Canadians to get back to work and ensure that small businesses, which are the backbone of the Canadian economy, can play a major role in Canada’s economic recovery.

Quotes

“Our government knows the important role Northern Ontario entrepreneurs play in supporting our recovery efforts and building strong, sustainable local economies. This investment in Wakenagun Community Futures Development Corporation through FedNor is another great example of supporting partners across Northern Ontario to strengthen and grow the economy, and create high-quality jobs.”

– The Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor, and Member of Parliament for Thunder Bay–Superior North

“This strong show of support from FedNor demonstrates confidence in our organization and the important work we do in Indigenous communities throughout our service area. This targeted investment will ensure entrepreneurs have continued access to the resources they need to maximize growth opportunities, create jobs, support recovery efforts and position our region for long-term success.”

– Cathy Clement, Chair, Wakenagun Community Futures Development Corporation

“The business support programs from Wakenagun CFDC were important in keeping the lights on in our Bed & Rest business in Fort Albany First Nation. We were able to keep utilities and wages going when it mattered most.”

 Karen Metatawabin, Owner, Karen’s Bed & Rest, a Wakenagun Community Futures Development Corporation client

Quick facts

  • The funding announced today is provided through FedNor’s Community Futures Program (CFP), which supports projects that promote sustainable community economic development, diversification and business growth.
  • The Wakenagun CFDC services the Western James Bay region, which includes the Town of Moosonee, Fort Severn First Nation, Weenusk (Peawanuck) First Nation, Attawapiskat First Nation, Kashechewan First Nation, Fort Albany First Nation, Moose Cree First Nation, MoCreebec Eeyoud Council, Taykwa Tagamou First Nation, and Missanabie Cree First Nation.

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