FedNor Investments Support Infrastructure, Business Growth and a Strong Economy for the Parry Sound–Muskoka Region
Backgrounder
Parry Sound Area Community Business & Development Centre $570,000
Operational funding
To accelerate business development and growth in the region, a FedNor investment of $300,000 will support the ongoing operations of the Parry Sound Area Community Business and Development Centre (CB&DC) for a one-year period. Specifically, FedNor funding will enable this not-for-profit, business-focused organization to provide small and medium-sized enterprises with business counselling services and access to capital, as well as support for community strategic planning initiatives. The Parry Sound Area CB&DC is one of 24 Community Futures Development Corporations supported by FedNor in Northern Ontario.
Community Investment Initiative for Northern Ontario
To help maximize economic opportunities in the West Parry Sound area, the Parry Sound Area CB&DC will also receive $270,000 to hire an economic development officer (EDO) for a three-year period. Provided through FedNor’s Community Investment Initiative for Northern Ontario, this strategic initiative will support the implementation of key economic development and growth initiatives in the Town of Parry Sound; Townships of Carling, Archipelago and Seguin; as well as the Municipalities of Whitestone and McDougall. Some key projects to be undertaken by the EDO include the development and implementation of investment attraction and marketing plans, creation of a workforce attraction strategy, and the implementation of a strategic plan to support business development and growth in the region.
Seguin Township $405,000
Seguin Township, in partnership with the Parry Sound Airport Commission, will use a FedNor investment of $405,000 to complete infrastructure enhancements at the Parry Sound Area Municipal Airport. Specifically, the funding will be used to construct a 3,000-square-foot hangar, install new fencing and equipment to enhance security, and upgrade the airport’s fuel system to better serve domestic and international flights. Once complete, this strategic investment will allow existing businesses to grow, and pave the way for Milford Bay Trout Farm to expand its operations in the region by establishing a new processing facility at the airport’s business park.
Township of Lake of Bays $182,457
A Government of Canada investment of $182,457 in the Township of Lake of Bays will help create jobs and a strong economy by stimulating business and economic growth in the region. Provided through FedNor’s Community Investment Initiative for Northern Ontario, the funding will be used by the Township to hire an economic development officer (EDO) for a three-year period. This strategic investment will help identify and support the implementation of economic development projects in the Township of Lake of Bays and the communities of Dwight, Dorset, Hillside and Baysville. Some key projects to be undertaken by the EDO include implementing waterfront development and investment readiness strategies, launching economic development and downtown revitalization plans, as well as coordinating tourism events for the partner communities.