FedNor contributes $6M to Northern Ontario businesses
The Federal Economic Development Agency for Northern Ontario (FedNor) has announced nearly $6 million in funding for a series of business in the region, several of which plan to use their share of the funding to expand their operations.
Federal Minister of Tourism and Associate Minister of Finance Randy Boissonnault announced the funding on October 25. The money sees $5,799,103 allocated to 13 community and business growth initiatives in the Parry Sound and Muskoka regions. The funding is expected to create and maintain 365 jobs in the region.
“Today’s announcement provides support for local businesses to scale up and create an estimated 365 good paying jobs across Parry Sound and Muskoka,” said the minister. “We will continue to invest in building resilient communities and growing our local economies from coast-to-coast-to-coast.”
Four of the recipients intend to use some or part of their funding allocations to launch construction projects.
Huntsville Forest Products is receiving a repayable investment of $1,000,000 to support development costs for its new 60,000 square foot sawmill expansion project in Huntsville.
The Township of McDougall is receiving $972,810 to expand its infrastructure at the Parry Sound Industrial Park, paving the way to create up to 22 new fully-serviced lots.
Employment North is receiving $614,793 to renovate a former church in downtown South River to create a Community Hub to promote economic and social development in the Almaguin Highlands region.
The Emsdale Airport Authority is receiving $50,000 to revitalize the 6,000 square foot hangar at the public airport in Novar, helping to attract two new businesses.
"The support from FedNor is deeply appreciated by the entire team at Huntsville Forest Products,” said president and managing director Malcolm Cockwell. “This will enable our efforts to advance the design, planning, and eventual construction of one of the safest and most efficient hardwood sawmills in Canada."
Other funding recipients include Muskoka Brewery and Muskoka Roastery, which will adopt state-of-the-art green technology, Nextup Care Inc. which will bring its Intelligent Patient Scheduling Platform to market, and the Parry Sound Area Community Business and Development Centre, which will offer business counseling and investment services to small and medium-sized businesses.
“Muskoka Brewery is pleased that FedNor could assist us in introducing green and sustainable technologies for best-practice in waste management during the brewing process,” said Muskoka Brewery president Todd Lwein. “This contribution will help us purchase a bioreactor to treat our wastewater, reducing our water consumption to near residential levels, allowing for business growth and maximizing environmental and community benefit.”
Since 2015, FedNor has provided more than $365 million to support 821 projects, which helped create and maintain more than 12,450 jobs in communities and First Nations across Northern Ontario.