About 40 people from across the district attended the 25th Annual General Meeting of the Rainy River Future Development Corporation in Rainy River Thursday evening.
The nominating committee presented five names for election at the AGM. One more candidate, Gord Armstrong of Rainy River, was nominated from the floor.
Three candidates, Martin Dufresne (RR), Tony Marinaro (FF) and Ken McKinnon (LaVallee) were elected to three year terms.
Two candidates, Gord Armstrong (RR) and Cathe Hoszowski (FF) were elected to one year terms. Jan Beazley (FF) was nominated but did not get elected. Following elections, Regional Economic Developer Geoff Gillon gave a power-point presentation highlighting the RRFDC’s activities last year and goals for this year.
Gillon noted that their year included strategic planning, business counselling, working to build partnerships with groups and municipalities and business loans.
“We currently have 73 loan clients with 49% of them in Fort Frances, 43% in the district and 8% in the Northwestern Ontario Investment Pool (NWOIP),” said Gillon.
In a written copy of his presentation handed out at the meeting, Business Investment Officer Angela Halverson, said that last year they had 25 business loan applications valued at $1.32 million. Of those 16 were approved at a value of $779,200. 15 were disbursed at a value of $671,200.
RRFDC joined the NWOIP in 2004. NWOIP offers business loans in excess of the normal lending cap of $150,000 to as much as $500,000. To date NWOIP has invested in nine businesses in the region totalling $3.2 million of which RRFDC’s portion was $378,944.
Halverson noted a previously successful Store Front Loans program will be returning this year.
“These are loans up to $10,000 and are available to businesses throughout the District that have a visible storefront in a business section of their community.”
RRFDC also coordinates the Self-Employment Benefits program that offers loans to people on Employment Insurance benefits to start a small business and still collect EI for up to a year.
In 2006-07 nine people were approved and started small businesses in the District. Of those four became loan clients totalling $223,000.
Gillon informed the members present that they had a very successful year with several projects such as the broadband expansion project.
“This year we are continuing to work at improving the system by filling in gaps in the Hwy. 11 corridor (where service is poor or not readily available). We just sent in a application for funding today. Project estimated cost is about $4 million.”
RRFDC was recently presented an Achievement Award for its work on the broadband project. The award, which Gillion held up for everyone at the meeting to see, came from the Ontario Association of Community Futures Development Corps. at their annual convention.
RRFDC also continued to work with the Rainy River District Regional Abattoir Inc. not-for-profit organization to plan and hopefully open an abattoir.
“It is going to cost approx. $1.3 million to build the facility and we hope to have it start up in 2008. But we do need commitment from area producers for at least 30 head per week to keep it viable.”
RRFDC Chair Russ Fortier noted that RRFDC has recently hired Jeanette Cawston as a Rural Agricultural Coordinator.
“She will work with the many partner organizations towards expanding and improving economic opportunities for our district’s agricultural industry and rural communities.”
Gillon noted that RRFDC continues to work for the betterment of the district’s economic future through other efforts such as trade development through participation in the Northwest Midwest Alliance, Local Initiatives Program, Customer Service Champions Program, The Events Tent, Business Expansion and Retention Program and the Community Summit Program.
Goals for 2007-08 year include:
•Support the agricultural community’s move towards local foods and more support for the abattoir.
•Develop an immigration committee and action plan for increasing immigration to the District.
•Continue to forward the activities identified in the Business Retention and Expansion survey.
•Continue to assist our communities and groups with their strategic planning efforts.
•Continue to improve broadband/cell services.
•Work towards diversifying the tourism industry.
•Attract new investments to the District.
•Expand our partnerships with area municipalities and First Nations.
“We are excited by the potential of the Rainy River District,” said Chairman Fortier.
Gillon echoed that sentiment, “It is our belief that the District and the region can only move forward by creating and maintaining strong partnerships.”
Fort Frances Times
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