The East Algoma Community Futures Development Corporation is getting $1.6 million from FedNor. The money covers expenses for the next five years and is open to small and medium-sized businesses. Corporation chairman Vyrn Peterson is thanking FedNor for having confidence in the region with this latest grant allocation. The CFDC provides business counseling and access to capital in order for businesses to continue to grow and prosper. It’s staffed with business and economic development professionals in various fields.