Toronto, Ontario – 

Federal Economic Development Agency for Southern Ontario (FedDev Ontario)

FedDev Ontario Minister of State Gary Goodyear spoke to the Ontario Region Small and Medium Enterprise Network this morning to outline federal funding opportunities available to help support the province's businesses.

The Minister highlighted FedDev Ontario's focus on helping companies become more innovative, productive and competitive, contributing to Ontario's economic prosperity.

Following his speech, the Minister joined Willowdale MP Chungsen Leung for an information session on FedDev Ontario programming for local businesses.

FedDev Ontario launched a series of funding initiatives in December 2013. More than $530 million over five years is available through the Southern Ontario Prosperity Initiatives, aimed at retaining, attracting and growing businesses in southern Ontario to increase the region's global competitiveness. Also, $200 million over five years is available through the Advanced Manufacturing Fund in Ontario, aimed at developing transformative products and technologies to help Ontario manufacturers create jobs and compete with the rest of the world.

Quick Facts

• There are more than 388,400 small- and medium-sized businesses in Ontario, employing more than 3.8 million workers.
• Businesses, not-for-profit organizations, post-secondary institutions and angel organizations can now apply for funding through a series of initiatives delivered by FedDev Ontario.
• Since its creation in August 2009, FedDev Ontario has invested more than $1.1 billion, resulting in partnerships with more than 5,300 organizations and more than $1.5 billion in additional leveraged investments from almost exclusively non-governmentsources to support businesses, organizations and communities in southern Ontario.

Quotes

"Ontario's small- and medium-sized businesses play a critical role in our economy, in creating jobs and in bringing new ideas to the marketplace. Business owners should know that our Government is here as a partner in helping them to grow and prosper."

Gary Goodyear, Minister of State for FedDev Ontario

"I'm pleased to have welcomed Minister Goodyear to Willowdale to highlight how our Government is continuing to support local businesses, ensuring they have the tools they need to succeed in the global economy."

Chungsen Leung, Member of Parliament for Willowdale

src:news.gc.ca