December 17, 2018
Future Oxford Legacy Fund awards $162,000 to support local sustainability projects in 2018
Local entrepreneurs, businesses and partnerships benefit from Legacy funding in two streams: Access to Capital and Community Development Support
In 2018, the Future Oxford Legacy Fund awarded $150,000 in loans to two local businesses and another $12,050 in grants to develop new and sustainable community and regional opportunities that align with the Future Oxford Community Sustainability Plan.
Oilstream Corporation and Tillsonburg’s Xcel Fabrication & Design Ltd. are the 2018 recipients of the Future Oxford Legacy Fund capital funding. These two recipients were selected by Community Futures Oxford, an independent, non-profit organization committed to entrepreneurship and economic development in Oxford County.
Oilstream Corporation was awarded a $100,000 loan to help fund construction and the purchase of machinery and equipment. Once established, this new local business is expected to create six new jobs at its precast concrete modelling plant in Woodstock that will support Ontario’s growing construction industry. Xcel Fabrication received $50,000 to continue the expansion of its Tillsonburg production plant, creating about 40 new jobs there. By enhancing the local economy through high-tech manufacturing, both companies directly align with the goals set out in the Future Oxford Community Sustainability Plan.
Seven grants were also awarded this year for not-for-profit projects under the community development and support funding stream. Fanshawe College, in partnership with Community Employment Services, received $3,000 for its market research project, Fanshawe Fresh.
This pilot project gave local Fanshawe students the opportunity to provide market research and product development assistance to 12 local food businesses. By supporting locally sourced food, this project aligned with all three pillars of the Community Sustainability Plan: economy, community and environment. Three students also ended up being hired as a result of this project.
Other projects to receive grants in 2018 were:
- Strength-based Leadership Development Training
- Zorra Township Farm Gate Signage Pilot Project
- Preserving: It’s in Our Roots
- International Women’s Day Conference
- Oxford Connection’s bi-annual Familiarization Tour
More information on these projects is available in the Legacy Fund Impact Report.
The Future Oxford Legacy Fund is currently accepting new applications from entrepreneurs, businesses and partnerships in need of seed funding to develop new and sustainable community and regional opportunities that help to meet the targets set out in the Community Sustainability Plan.
Individuals or organizations interested in applying for either a capital loan or community development support grant should visit FutureOxford.ca for eligibility requirements and to access the Future Oxford Legacy Fund application.
Allan Simm, General Manager, Community Futures Oxford
“We are proud to be able to nurture and support local business and the sustainability of our community through the Future Oxford Legacy Fund. The fund allows us to support many types of business in our community that align with the three pillars identified in the Future Oxford Community Sustainability Plan including economy, community and environment.”
Lisa Wells, Manager, Continuing Education and Contract Training, Woodstock/Oxford Fanshawe College
“We were very happy to receive the grant funding. It is the hope of the research team that this project will run again next season in order to further enhance the community relationships developed, continue supporting business innovation within the Oxford County and increase future sustainable growth for farm market based businesses and local entrepreneurs.”
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About the Future Oxford Legacy Fund
The Future Oxford Legacy Fund provides seed funding to entrepreneurs, businesses and partnerships to develop new and sustainable community and regional opportunities that support the targets set out in the Community Sustainability Plan.
To ensure requests for funding and investment meet goals, objectives and targets of the Future Oxford Community Sustainability Plan, the Future Oxford multi-criteria assessment tool is used to help determine if a project or proposal supports a sustainable future. The tool uses a weighted “sustainability score card” to assess or compare community, economy and environment factors.
The Future Oxford Legacy Fund is a partnership between Oxford County, Community Futures Oxford and Future Oxford Partnership. Community Futures Oxford is responsible for accepting, screening and assessing the applications.
Jenn Austin | Strategic Communication & Engagement
519.539.9800, ext. 3505 | firstname.lastname@example.org