Community Development Corporation Board Highlights

Sarnia, ON – The Community Development Corporation Board of Directors met for its monthly meeting Tuesday, April 21, 2015 where the Board:

Directed Park staff to seek applications for two new Directors for the Board of the Research Park. An application form can be requested by contacting Caroline Craig at ccraig@sarnialambtonresearchpark.ca or by calling 519-383-8303 ext.0.
Received a presentation from Dr. Murray McLaughlin titled "Bioindustrial Innovation Canada (BIC) Executive Summary Final Report to CECR." The report notes through BIC's investment portfolio in the Sustainable Chemistry Alliance that both the region and the province as a whole have seen nearly 3,000 direct and indirect jobs created. Total overall investments in commercialization are $448 million to date, moving them closer to their goal of $1 billion of investment in Ontario in green and sustainable technologies.
Noted that the Park has produced local "graduates" who have moved on from the Park to establish successful businesses in the region.
Noted the Park is now operating at 97 per cent capacity, with four pilot plants currently in operation. Research is being done in a variety of fields including the bio-based sector, pharmaceuticals, petrochemical, and energy industries.
Was informed that an important milestone for the Park has been reached in that the Park is now financially independent from the County of Lambton.

"The Community Development Corporation (CDC) is now assuming responsibility for its own debt," said Chair Mike Bradley. "The move towards financial independence away from the County of Lambton demonstrations the maturing of the CDC, which can now go to external lenders to negotiate its own financing."

For more information, contact:

Mike Bradley
Chair, Community Development Corporation
Western Sarnia-Lambton Research Park
519-383-8303
mayor@sarnia.ca

Tom Strifler
Executive Director
Western Sarnia-Lambton Research Park
519-383-8303 ext. 245
tstrifler@sarnialambtonresearchpark.ca