Government of Canada Supports Business Development and Growth in the Thunder Bay Region

News Release

August 30, 2016 – Thunder Bay, ON – Federal Economic Development Initiative for Northern Ontario – FedNor

The Honourable Patty Hajdu, Minister of Status of Women and Member of Parliament for Thunder Bay—Superior North, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and Minister responsible for FedNor, today announced an investment of $1,500,000 in support of small business development and growth in the Thunder Bay region.

The FedNor contribution will enable Thunder Bay Ventures to offer business counselling and access to capital services, as well as support community strategic planning initiatives for a five-year period.

Quick facts

  • The Community Futures funding, provided through FedNor in Northern Ontario, supports projects that promote sustainable community economic development, enhance business development and growth, and facilitate innovation.
  • Thunder Bay Ventures is one of 24 Community Futures Development Corporations (CFDCs) funded by FedNor to serve Northern Ontario businesses and communities. CFDCs are community-based, not-for-profit organizations run by volunteer boards and staffed by experienced business and economic development professionals.
  • The CFDC's service area consists of the Thunder Bay Metropolitan Census Area including the municipalities of Shuniah, Neebing, Oliver Paipoonge, O'Connor, Fort William First Nation and several unorganized townships. The organization also serves the Highway 527 corridor to Armstrong which includes the First Nations communities of Gull Bay and Whitesand.

Quotes

"The Government of Canada recognizes the important role small and medium-sized businesses play in the Canadian economy. That's why we are working hand-in-hand with organizations such as Thunder Bay Ventures to help businesses grow, which in turn is strengthening and diversifying the regional economy, and creating jobs."

– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and Minister responsible for FedNor

"Today's announcement demonstrates the Government of Canada's commitment to helping businesses and entrepreneurs innovate, expand their operations or establish new partnerships. Our investment will enable Thunder Bay Ventures to build on its established record of success and continue to support business growth in Thunder Bay and across the region."

– The Honourable Patty Hajdu, Minister of Status of Women and Member of Parliament for Thunder Bay—Superior North

"We would like to thank the Government of Canada for its continued support which enables us to keep working hard with businesses and entrepreneurs in the area, and to champion regional economic diversification and development initiatives that will pay dividends now and into the future."

– Johnny de Bakker, Board President, Thunder Bay Ventures

Associated Links

Contacts

Kim Fewchuk
Communications Officer - FedNor
705-971-4112
Kim.Fewchuk@canada.ca

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