The Haliburton County Development Corporation (HCDC) has retained its position as the number one community investment firm in Canada, boasting a portfolio of $23.6 million in local assets.
The organization celebrated its 40th anniversary last week, holding its annual general meeting at the Bonnie View Inn Oct. 2. There, HCDC loans manager Sara Joanu said the corporation approved 37 of 54 funding applications during the 2024-25 fiscal year, dishing out over $6.2 million.
Joanu said the money helped to support 263 jobs in the County.
“The majority of our applications were people looking to start something on their own that they wouldn’t be able to do without the support of HCDC,” Joanu said, noting most big banks don’t finance business start-ups.
Joanu said HCDC has 146 active loans totalling over $18 million, with $5.5 million cash in the bank. She said the corporation’s average interest rate on its loans is 8.3 per cent.
Since launching in 1985, Joanu said HCDC has disbursed 2,410 loans totalling more than $115 million to County-based entrepreneurs, with an average loan size of about $48,000.
“Since the initial capitalization of $2.5 million from Industry Canada, we have earned interest of over $23 million. Over those years, we have written off $3.3 million and been able to maintain a loan loss rate of 2.9 per cent, which I think speaks volumes to the success of our business sector and how well we work with them through difficult times,” Joanu said.
Andy Campbell, one of HCDC’s founding members, provided some further history. He said he was hired by the Haliburton County Chamber of Commerce to secure federal money through a local employment assistance development program, which was set up to encourage job creation in rural areas.
He had to navigate conversations with figureheads from 16 townships at the time, though, 18 months later, HCDC was born.
“And here we are 40 years later, still going strong,” Campbell said.
Executive director Patti Tallman said HCDC is more than an investment firm, she said staff also specialize in providing free business services and advice to people looking to start or grow a business. They also work with non-profits and provide in-kind work through the local initiatives (LIP) and community economic development (CED) programs.
Through business services, HCDC assisted 224 companies and non-profits. Staff also developed and updated four strategic plans through CED. It assisted the Eagle Lake Women’s Society to install historical panels at Eagle Lake beach and provided support for a local newspaper digitization project, with an online searchable archive of all known local news sources launching Oct. 22.
Elisha Barlow, program and operations coordinator, said HCDC supported 24 projects with 103 partners through LIP last year, donating just under $66,000, leveraging another $186,000, and facilitating in-kind contributions of $126,000 for a total impact of $378,000.
Some of the projects supported include a $4,500 redevelopment of Razzamataz Kids’ Shows website; a $4,000 community-engagement art project through Rails End Gallery; a $4,000 investment to improve Central Food Network’s communications; $3,500 to the Buckslide Blues Society to help plan a music festival; and $4,000 to U-Links for the creation of a housing study for Haliburton County.
Tammy Rea, owner of Sticks and Stones Productions, said her business got its start thanks to a $1,500 CED grant in 2006. She used the money to launch a local 48-hour film challenge, where participants had two days to make a movie. The project ran over six weeks and included professional tutorials with screenwriters and lighting/ sound specialists, attracting about a dozen entries.
Of the people who joined, several have gone on to have careers in the movie industry, including Brad Brown of Upside Brown Production Services; Chris King, a sound engineer who has worked on features like Schitt’s Creek, The Handmaid’s Tale and Women Talking; and Darlene Buckingham, who created a documentary on uranium that has been a regular feature at a Brazilian film festival.
Malcolm Cockwell of Haliburton Forest and Wild Life Reserve, which has benefitted from several HCDC programs through the years, Barb Bolin, a former HCDC board and committee member, and County warden Dave Burton also spoke about the difference the corporation has made in the Highlands.
“HCDC’s efforts have positioned Haliburton County as a place where entrepreneurs feel supported, creativity is nurtured, and collaboration leads to lasting results. HCDC has been there every step of the way for thousands of people,” Burton said. “The impacts go beyond business and the economy, HCDC has strengthened the fabric of our region for many, many years.”
