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MANDATE

Community Futures Development Corporations operate to help develop and diversify the local economy through: Access to Capital Business & Advisory Services (SEB Program) Community Economic Development Support for Community Based Projects (EODP). MANDATE.

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MANDATE

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  1. Community Futures Development Corporations operate to help develop and diversify the local economy through: Access to Capital Business & Advisory Services (SEB Program) Community Economic Development Support for Community Based Projects (EODP) MANDATE

  2. Community Futures Development Corporations are: Not-for-profit organizations Governed by a volunteer Board of Directors,representing a cross section of our communities based on geography and business sector Federally Supported by FedDev Ontario, in partnership with the Government of Canada MANDATE

  3. Total Jobs Value of Loans ($M) # of CFs # of Loans Canada 269 4,455 175.2 12,277 1,106 Ontario 61 50.8 2,935 Eastern Ontario 15 325 16.7 1,925 Access to CapitalApril 2007 - March 2008

  4. An Economic Impact Analysis of the Community Futures Lending Program of Ontario’s Economy From 2004 to 2009…. Total of $952 million in real capital investment spending Created 20,219 person-years of employment In 2009, impacted Ontario’s real GDP by + $353 million For every $1.00 of direct lending through the program, real GDP is lifted by nearly $4.22

  5. Successful Loan Clients

  6. EO CFDC Lending Total Value of Disbursements from Inception to March, 2009

  7. Impact of Lending Based on Conference Board of Canada Study as of June 2010 $238.6 MM x $4.22 = $1.006 Billion

  8. Recent EO CFDC Lending Investment Fund Activity, East Region CFDCs Performance Metrics East Region CFDCs 2008 2009 2008 – 2009 Growth Jan – Mar 2010 # of Applications Received 490 633 29% 186 # of Closed Deals 325 423 30% 100 Average $ Value of Cl osed Deals $51,051 $60,275 18% $45,823 $ Value of Closed Deals $16,591,516 $25,496,303 54% $4,582,347 Number of Businesses Assisted 318 415 31% 99 Total Job Impact 1,924 3,079 60% 675 Average Cost per Job $8,693 $8,417 - 3% $8,164 Total # of Loans in Portfolio 1,044 1,138 9% 1,158 To tal $ Value of Current Loan Portfolio $48,733,628 $59,075,660 21% $59,685,667 Cash on Hand $29,637,002 $21,547,181 - 27% $25,005,166 Leveraged Fund Summary - Owner’s Equity $20,871,083 $14,094,550 - 32% $3,884,000 rd 3 Party $19,297,816 $29,737,621 54% $ 5,333,319 T otal $40,168,899 $43,832,171 9% $9, 217,319 Ratio 2.4 1.7 - 30% 1.7

  9. Relevance Often the CFDC’s offer the only Federal presence in rural communities Design & Delivery Overall, the investment funds of the CFDC’s appear well-managed. Cost-Effectiveness & Alternatives The CFDC’s are cost-effective in administering the program. Final Evaluation of the Community Futures Program in OntarioOVERALL CONCLUSIONS

  10. Program Success The CF Program has been successful in achieving its outcomes. CF Program has been successful in improving clients’ business skills and knowledge, creating new business start-ups, maintaining and strengthening existing businesses, increasing community capacity, and assisting communities to diversify their economies. Final Evaluation of the Community Futures Program in OntarioOVERALL CONCLUSIONS (cont’d)

  11. EASTERN ONTARIO PERSPECTIVE • Rural economy under threat • History of economic challenges • Low population density, infrastructure challenges • Lack of economic diversification, dependence on primary industry • Ageing population • Youth out-migration • Unemployment and underemployment • Access to capital • Poverty • Poor health • Stagnant assessment growth

  12. EASTERN ONTARIO DEVELOPMENT PROGRAM A unique collaboration of regional economic development organizations: 15 CFDC’s EOCFDC Network Inc. FedDev Ontario Community Partners: OEEDC Municipalities & Counties Post Secondary E.O. Warden’s Caucus

  13. Eastern Ontario Development Program 2004 - 2010 $10 million 2010 - 2011

  14. EODP Totals2004 - 2010

  15. Local EODP Totals2004 - 2010 For every $1 EODP spends locally another $3.20 is invested.

  16. EODP Success Stories2004-2009

  17. EODP Regional Projects Annual presence of innovative Eastern Ontario agri-business

  18. $97 million Plant Employees: 60 2007 EODP Regional Project

  19. Food Processing Logistics Automotive Plastics & Packaging Ontario East Sector Studies

  20. Eastern Ontario Food Sector Analysis Completed Partnership and Plan Established Sales Training Completed Messaging Developed Marketing Materials Developed Ontario East Food Processing Investment Team Accomplishments

  21. Eastern Ontario Broadband Gaps

  22. Frontenac Broadband Gaps

  23. CFDC/FedNor Broadband Projectwith EOWC

  24. $110 Million approvedby Federal Government

  25. EODP Regional Projects2004 Opportunity Action Plan 2008 Prosperity Plan for Eastern Ontario

  26. Eastern Ontario Economic Summit

  27. Design & Delivery Strength of EODP is the use of the CFDC as its delivery agent Many CFDC’s undertake the role of economic capacity developers in catchment areas where no one is playing that role Local selection processes used by CFDC’s are effective and appropriate 2008 Final Evaluation of theEastern Ontario Development Program

  28. Success EODP Projects have positively impacted private businesses, organizations and communities Projects have strengthened communities by supporting the efforts of non-profit organizations, tourism efforts, and by investing in physical and social infrastructure EODP appears to have a catalytic effect on the behaviour of organizations and communities. EODP often appears to be the first to fund projects, and as such, acts as a lever for additional investment 2008 Final Evaluation of theEastern Ontario Development Program

  29. EODP 20,000 Investment 34,600 SEB 5,000 TOTAL 59,600+ JOBS, JOBS, JOBS! Note: Based on estimates provided by March 2009

  30. Thank You! DBIA

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