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Local business experts see nothing but good in double-barrel budget announcements
gregg.chamberlain@eap.on.ca Prescott-Russell
helps stimulate economic development in Prescott-Russell through a business loan fund, counselling services for new entre- preneurs, and developing partnerships with other s on projects that will support and enhance local businesses. Candie sees several things, like the further reduction of the business tax rate, which can work well with the CDC programs and services. “They (business owners) can use that tax money they save to re-invest,” he said, “especially for a small business. The majority of jobs created in Prescott-Russell, Eastern Ontario, and the rest of Canada, is in the small business sector.” Other federal budget gifts to the business community, Candie noted, include promi- ses of more money to support student internships and a $100-million portfolio for the Business Development Bank of Ca- nada (BDBC). The Hawkesbury office of the BDBC opened last year so Candie expects to see some of that $100 million trickling down to support new ventures in the Prescott- Russell area. “I think it will prove to be a value-added asset for our regional economy,” he said. “This federal budget is continuing the work of the last budget. They are continuing on their promise to help the rural community, and to help the business community.” Luc Filion, a financial advisor based in Rockland, observed that the restraint
waiting for two or three years on their environmental studies.” Another point of interest to the business sector in the federal budget document, Charlebois noted, concerns revising Canada’s immigration policies that would put greater weight on the employability of new arrivals to the country. He expressed some concern about the federal government’s plan for cuts to the public sector workforce as part of its own spending restraints. “Hopefully that won’t have a big effect on this region,” he said. Looking over the provincial budget, Charlebois noted that it brings up concerns raised in the recent report from the Eastern Ontario Wardens Caucus (EOWC) about the need to continue work helping municipalities to fix up and improve their basic infrastructure like roads, water, sewer and other services that have suffered for lack of funding support during past pro- vincial administrations. “We are very concerned about that,” Charlebois said. “We have been losing ground on infrastructure, whether it’s due to federal or provincial cuts, in the end it puts more weight on the local property tax to cover it and then we become very concerned about having to carry the full load.” Charlebois also agreed with Gatien’s observation about making the EODF per- manent. “This is great for us,” he said. “It’s a great tool for us.” The federal budget is of great interest to John Candie, executive director for the Prescott-Russell Community Development Corporation (PRCDC). “It’s really pro-business,” said Candie. “For small- and medium-business, it’s a win-win.” Created during the Mulroney Progres- sive Conservative era as part of the Community Futures program, the PRCDC
measures included in both the federal and provincial budgets were “not unexpected” but he also noted that the provisions included in the federal budget to maintain the Old Age Security (OAS) program symbolize the Harper Conservative government’s commitment to fiscal responsibility. “I am glad to see them take the measures they have to protect that institution,” Filion said. “People are living longer.” He added that the 10-year phase-in for the new OAS measures also gives people who are middle-aged now time to get their own financial planning in better order. “Giving people 10 years to think about this is just about the right amount of time.” Filion also noted that the McGuinty Liberal budget for Ontario features even more restraint measures than the federal Conservative budget. “I find the provincial budget was even more conservative,” he said. “I think they’re seriously attacking their in-house finan- ces, rather than spend money. They chose to get their house in order, and I think that is necessary.” He predicted that the provincial government’s attempt at restraint now will help ensure the survival of basic programs and services in future for all of Ontario. “It’s not popular, but I think they’re doing the right thing.”
KIM’S GROOMING Dogs are my passion! “Especially when you have streams on the land that is to be developed,” he said. “It’s not fair for business to have to keep He cited three items in the federal bud- get as offering immediate benefit to new business ventures in Eastern Ontario: the extension of the hiring tax credit, the inno- vation assistance fund, and the one-year cap on the time limit for environmental studies required for some new development projects. Charlebois noted that the time limit cap will help attract more potential investors because it removes some of the delays for some projects. There are enough pages to fill up the covers of a Stephen King novel in the combined budgets for this year from both the provincial and federal governments. But it’s all good “bedtime reading” for business and economic development as far as three local experts are concerned. Russell Township’s new Economic Development Director Daniel Gatien is very encouraged with the provincial bud- get promise to make the Eastern Ontario Development Program (EODP) a perma- nent part of Ontario’s economic development strategy. He also noted that that the federal government’s extension of the hiring tax credit should also be a help to the small business sector. “We’ve got to be able to maintain what we’ve got,” he said, “and then we can expand.” Sylvain Charlebois, economic development and tourism director for the United Counties of Prescott-Russell (UCPR), sees both the provincial and federal budgets as very pro-business plans for the future. “From an economic development pers- pective, it’s talking to the business sector,” Charlebois said during a phone interview. “There are many new things in there that will also help small business.”
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