Community Development Corporation of Sault Ste. Marie & Area
Thursday, September 21, 2017

Fact Sheet

INVESTING IN OUR FUTURE

CDC FACT SHEET

(September 1986 – March 2017)

For 31 years, the Community Development Corporation of Sault Ste. Marie & Area (CDC) has played an important role in business development and community economic development in our communities. 

The CDC is an independent, non-profit corporation with a volunteer board of directors.  Financial support is received by FedNor.  Many programs and services delivered by the CDC are available to the people in our communities.  These include:

  • An Investment Fund for business (loans, loan guarantees and equity investment of $1,000 to $150,000 per business).  The maximum investment amount can be increased to $500,000 on an exception basis under the Northeastern Ontario CFDC Pool.
  • Since inception, the CDC has provided over $17.8 million in loans and equity investments to 576  businesses  that have assisted in creating or sustaining 2,827 local jobs. These investments leveraged another $29.6 million from banks, owner’s equity, government and non-traditional sources.
  • Business Counselling and Consulting Services (Free of Charge)
  • Since inception the CDC has provided advisory services that have assisted in creating or sustaining 3,409 jobs.
  • Self Employment Benefit Program (program no longer active)
  • Since inception, the CDC delivered the SEB Program (funded by Service Canada and then the Ministry of Training, Colleges and Universities) which provided over $19.7 million in E.I. benefits to over 811 local businesses that have created in excess of 926 jobs.
  • Comprehensive Business Resource Centre (Free of Charge)
  • Between April 1, 2016 and March 31, 2017 a total of 232 people utilized the resource centre and computer work stations.
  • Community Economic Development Activities
  • By working with partners in both the public and private sectors to plan, initiate, facilitate, manage and administer projects, the CDC has assisted in the creation and sustainment of jobs within our communities.

The CDC’s jurisdiction includes the municipality of Sault Ste. Marie and extends to Montreal River to the North, Laird Township to the East and Prince Township to the West.

The CDC looks forward to its continued involvement in efforts to grow and diversify our communities.