The Saugeen Economic Development Corporation is a quarter of a million dollars richer.
The money, from the Federal Government, is earmarked for small and medium sized businesses.
SEDC Business Manager Rose Austin says the 250 thousand dollar grant is a one time addition to their investment fund.
The money will be used to increase access to capital and business support for rural small and medium sized enterprises.
The money couldn’t come at a more critical time.
Austin says local unemployment numbers are skyrocketing as communities deal with layoffs, factory closures and increased social assistance cases.
She says the SEDC needs this new money to put back into the communities to help get people back on their feet.
For the last 23 years the SEDC has been working with the business community as a high risk lender, often working with those the banks have turned down.
Bruce Grey Owen Sound MP Larry Miller says the money is in good hands.
He notes the SEDC has done a great job helping new businesses start up and current ones expand.
Huron Bruce MP Ben Lobb adds that local Community Development Corporations like the SEDC have a tremendous track record developing the local economy.
Its Austins hope that todays cheque is just the beginning.
The 250 thousand dollars is the SEDC first share in the 30 million dollar economic stimulus fund that the Federal Government has earmarked for Community Futures Development Corporations in Southern and Eastern Ontario.
To date 10.3 million of this money has been spent.
The SEDC encompasses the communities of Arran Elderslie, Brockton, Chatsworth, Grey Highlands, Hanover, Minto, Saugeen City, South Bruce, Southgate, Wellington North and West Grey.