Corporation authorized 13 loan agreements totalling $748,000 to area businesses in 2007

“Our investment activity in 2007 was diverse from a business sector standpoint, geographic location and variable in value, from a start-up loan of $4,000 through to $150,000 full range loans,” said John Heineck. “We wrote 13 loan agreements in Muskoka equalling $748,000 and participated in nine more, with our share being over $225,000. Over 55 jobs were maintained or created as a direct result. It was also a year of celebration for seven of our clients as they paid off commitments that represented $420,000 of investments.”

 Heineck made the statement during Muskoka Futures’ third annual Future’s Symposium, held at the Delta Grandview Resort on Jan. 24.

The conference’s focus was on how to keep Muskoka’s prosperity sustainable into the future.

In his presentation to the more than 200 people gathered for the conference, Heineck said since 2000, over 150 companies in the area have become clients borrowing over $7 million, impacting the lives of over 900 citizens by creating or retaining their employment. He said that since the corporation’s inception in 1987, it has invested more than $15 million into the regional economy.

He added that while Muskoka Futures is probably better known for its business development services, it also equally share a focus on enabling community economic development.

“Today, it is wonderful to be surrounded by people who have dedicated themselves to making a difference in their communities. Many of you have influenced some of the wide range of achievements that have been helped though a contribution from the Muskoka Community Initiative. Since January 2000, this initiative has contributed over $325,000 to 93 projects that support the economic health of the region, leveraging approximately $3.5 million in additional contributions.”  

As if this wasn’t enough, during 2007, according to Heineck, Muskoka Futures has been involved behind several initiatives such as:

• The start of new Muskoka Futures marketing campaign, including the launch of muskokafutures.ca;

• The successful management and coordination of SAVOUR Muskoka Project, including incorporation of this group and development of strong strategic foundation and participation in local, provincial and national events including the Royal Winter Fair;

• Successful coordination and delivery of the first joint conference of the North Eastern Ontario Development Network and the Ontario Association of Community Futures Development Corporations;

The launch of the Innovation Muskoka program to mentor, coach and stimulate creative thinking in entrepreneurs;

Continuing the Business Retention and Expansion Project impact through the volunteer community committees in Huntsville, Muskoka Lakes and Gravenhurst;

•Supporting, promoting and chairing of the Trade Northern Ontario Initiative with Muskoka being home to the senior trade advisor and host to the International Trade Day session in October 2007 as part of Small Business Week.

“As you can see 2007 was a busy year and 2008 promises to be just as busy and successful,” said Heineck. “We look forward to collaborating with you in continuing to provide quality business programs, ongoing community support and continuing to stimulate the minds of our decision makers to find new and challenging ways to be a sustainably prosperous community.”