- Partner News
- Media Releases
- Mainstream News
September 01, 2023
Up to 80 projects receiving funding through the Rural Economic Development Program
PETERBOROUGH — The Ontario government is investing over $4.3 million in up to 80 projects across the province through the latest intake of the Rural Economic Development (RED) Program. The RED program supports projects that diversify rural economies, retain skilled workers, and create jobs in local communities.
“Our government values rural communities throughout the province, and this program provides municipalities, Indigenous communities, and not-for-profits with the funding they need for projects that contribute to local economic vitality,” said Lisa Thompson, Minister of Agriculture, Food and Rural Affairs. “The Rural Economic Development program is another example of how our government is ensuring small towns and communities across Ontario continue to share in the province’s growth and economic prosperity.”
In Peterborough, the Innovation Cluster is receiving up to $73,750 for the launch of a new program that will support:
The project will positively impact rural Ontario by supporting entrepreneurship in the region, strengthening the skills of community members, preparing the next generation of entrepreneurs, and strengthening partnerships among the economic development community.
“The Agri-food industry has been a key innovator in so many technologies that we take for granted in our everyday lives,” said Dave Smith, Member of Provincial Parliament for Peterborough-Kawartha. “Good things grow in Ontario when we nurture local entrepreneurs and give them the tools they need to collaborate and innovate.”
The RED program provides cost-share funding support towards activities that create strong rural communities. This includes funding assistance to build local capacity and improve job prospects. The program aligns with the government’s priorities of removing barriers to investment, opening doors to rural economic development, and creating good jobs across the province.