The Community Economic Development Awards took place September 18, at the Senator Hotel in Timmins.
Economic Partners Sudbury East/West Nipissing Inc. CFDC took top honours in the Economic Development - Temiskaming – Cochrane Breeder Coop Bovine Expansion. The ceremony honours winners and honourable mentions for their efforts in promoting communities and economic development opportunities says a release from the group.
The Temiskaming Cochrane Breeder Coop project is a livestock financing project where a local breeder coop administers financing to their beef farmers in the area to help expand their herds and make the farm operation more sustainable in the long term. Part of the program is interest-free money. It’s a way for farmers to grow the market, grow the area, expand the beef industry and keeps families and youth in the area. It lets farmers grow animals that use marginal lands that can’t be cropped for human consumption and allows the cattle to turn cellulose into protein which benefits everyone in the economy.
Partners in this project include FedNor, Farm Credit Canada, Beef Breeder Coop and only four out of 61 Community Futures Development Corporation (CFDC) offices which include Economic Partners Sudbury East/West Nipissing Inc. Through the program $4.2 million is financed to 158 coop members and in the 15 years the program has been ongoing there has never been a missed payment and there has never been a write-off, so the money keeps circulating in the local community.
Economic Partners Sudbury East/West Nipissing Inc. is honoured to accept this award and will continue to encourage and enhance economic development in our local communities.
