New Funding Program Available for Projects Supporting Economic Growth
PETERBOROUGH, ON – January 16, 2024 –A new program aimed at boosting our local economy has been unveiled by Community Futures Peterborough today. The Community Advancement Program, known as CAP, will distribute $50,000 to projects driving economic stability, job growth, and job creation in our region this spring.
“The creation of this program demonstrates the commitment our organization has to advancing our local community forward,” says Devon Girard, Executive Director of Community Futures Peterborough. “The distribution of $50,000 in our economy should make a real difference to drive various economic development initiatives.”
The Community Advancement Program will provide each successful applicant with non-repayable funding of up to $5,000 for their project. CAP is open to all businesses, not-for-profits, and individuals in the City and County of Peterborough who successfully apply for programs that boost business attraction, investment, retention, and employment in our community. Applications are currently being accepted until March 8, 2024.
“CAP is working to help entrepreneurs and businesses scale up, grow, and create economic development in rural communities like Peterborough,” says the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario. “The Government of Canada through FedDev Ontario is funding the Community Futures Program to ensure small businesses have what they need to grow and thrive.”
Additional Quotes:
“The Community Advancement Program will boost economic development in our region by helping businesses, non-profits, and individuals in the City and County of Peterborough to invest in their community. I want to thank Community Futures Peterborough and FedDev Ontario for supporting our local economy.” – Jeff Leal, Mayor, City of Peterborough.
“Community Futures Peterborough, with the support of FedDev Ontario, continues to help our business community reach its full potential. The CAP program will help businesses to adapt, innovate, and grow to serve our communities including those in rural Peterborough County.” – Bonnie Clark, Warden, Peterborough County.
“A $5,000 contribution can be a complete game-changer for a startup or small business. The establishment of the CAP program provides businesses the opportunity for continued success, which is not only a win for our local economy, but our community as a whole.” – Michelle Ferreri, Member of Parliament, Peterborough – Kawartha.
About Community Futures Peterborough
Community Futures Peterborough has a mission to support small businesses with flexible financing in the City and County of Peterborough. It has invested more than $41 million in more than 1,100 small businesses since 1985, creating or maintaining more than 4,100 jobs in the City and the County. Community Futures Peterborough is a not-for-profit organization funded by the Government of Canada, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), as part of the Community Futures Program (CFP).
About FedDev Ontario
For 14 years, the Government of Canada, through FedDev Ontario, has worked to advance and diversify the southern Ontario economy through funding opportunities and business services that support innovation, growth, and job creation in Canada’s most populous region. The Agency has delivered impressive results, which can be seen in southern Ontario businesses that are creating innovative technologies, improving productivity, growing revenues, creating jobs, and in the economic advancement of communities across the region. Learn more about the impacts the Agency is having in southern Ontario by exploring our pivotal projects, our Southern Ontario Spotlight, and FedDev Ontario’s Twitter, Facebook, Instagram and LinkedIn.
Media Contacts:
Devon Girard, Executive Director
Community Futures Peterborough
Mobile: 705-957-3641
Edward Hutchinson, Press Secretary
Office of the Minister responsible for the Federal Economic Development Agency for Southern Ontario
edward.hutchinson@feddevontario.gc.ca
Backgrounder
What is the Community Advancement Program?
CAP, an initiative of Community Futures Peterborough (CFP), aims to boost business attraction, investment, retention and employment in the City and County of Peterborough by supporting projects that:
- Create community economic stability, growth and job creation;.
- Develop and diversify competitive local rural economies; and
- Foster economically sustainable communities.
What kinds of projects does CAP support?
- CAP seeks projects in areas like local tourism, entrepreneurship and economic opportunities that:
- Create jobs, spark innovation and foster inclusiveness for specific client groups (e.g., women, youth, Indigenous people, etc.) as they start, grow or diversify their businesses;
- Help small businesses adapt to changing economies and technologies;
- Create partnerships with local governments, Indigenous groups, educational institutions and community organizations;
- Boost economic impact by strengthening and expanding tourism markets; and
- Support organizations promoting regional economic development.
Who can apply?
- Individuals
- Businesses
- Not-for-profit organizations
Funding
- Maximum funding request: $5,000