$20 Million investment in Eastern Ontario Development Corp. promotes more competitive economy: Kramp

Prince Edward-Hastings Member of Parliament, Daryl Kramp, on behalf of The Honourable Tony Clement, Minister of Industry Canada, today announced a two-year investment in the Eastern Ontario Development Program (EODP) totaling $20 million.

The longer-term commitment in the EODP is expected to result in a greater number of strategic economic development initiatives and improved partnerships to benefit Eastern Ontario communities.

The benefits of the EODP on rural Eastern Ontario communities like those in Prince Edward-Hastings are widespread. EODP projects are selected through a local decision-making process to complement the needs and priorities identified by the community, and on their potential to stimulate local economic development and create jobs.

"The preservation and creation of jobs have been and will continue to be one of my greatest priorities. This funding to the EODP helps support our government's economic agenda by promoting a more competitive and diversified economy", said Mr. Kramp. "Our communities benefit from this as a result of these EODP funds being distributed to local Community Futures Development Corporations who, in turn, help fund entrepreneurial and other business initiatives in the area."

Since 2006, community stakeholders from across Eastern Ontario have worked with their local CFDCs to develop and implement EODP projects to benefit the local economy. In 2008 alone, nearly $50 million in EODP-related activity was generated including:

• more than 2,730 enquiries from stakeholders;

• in excess of 1,447 proposals being submitted and considered with a total value of more than $13 million;

• 985 approved rural Eastern Ontario projects valued at more than $7.5 million; and

• an additional $29 million leveraged from other sources.