Atikokan-area entrepreneurs and visitors will benefit from additional capital to create jobs and improve existing community infrastructure
News Release
More than $1 million from the Government of Canada will support small business growth and community places
August 24, 2017 – Atikokan, ON – Federal Economic Development Initiative for Northern Ontario - FedNor
Entrepreneurs in Atikokan looking to start a business or take their existing businesses to the next level will find the support and financing they need thanks to a $1 million investment from the Government of Canada in the Atikokan Economic Development Corporation (AEDC).
The funding was announced today by Don Rusnak, Member of Parliament for Thunder Bay-Rainy River, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedNor.
In addition to the business planning and counselling services it offers, the AEDC will provide $1 million to local entrepreneurs and small and medium-sized enterprises in the form of loans, loan guarantees and equity financing, to help them grow their businesses and become more globally competitive.
Mr. Rusnak also announced a $7,500 Canada 150 Infrastructure Program (CIP 150) investment to help the Friends of Quetico Park develop and install five new historically descriptive signs along the Paul Kane Interpretive Trail in Quetico Provincial Park, build a 15 metre boardwalk and install two benches along the trail. These enhancements will educate visitors about the area’s history and make it more accessible.
Quotes
"Small businesses are the driving force behind the Canadian economy and the Government of Canada is proud to support this vital sector by creating opportunities for local companies. The funding announced today will provide businesses and entrepreneurs in the Atikokan region with the tools they need to innovate, grow, reach new markets and create good-paying jobs that drive our economy forward."
The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and Minister responsible for FedNor
"Today’s announcement will deliver concrete results for the region in the form of economic and business growth, and quality middle-class jobs throughout the region. I am proud to be part of a government that recognizes the needs of entrepreneurs and small-business owners, and helps them seize new opportunities to grow and succeed."
Don Rusnak, Member of Parliament for Thunder Bay—Rainy River
"Working in partnership with the Government of Canada and FedNor, the Atikokan EDC is committed to making a difference and responding to the needs of entrepreneurs and businesses in the communities we serve. Today’s announcement is a strong show of support for the work we do and the role we play in strengthening the local economy by working with and investing in entrepreneurs, local businesses, and community partners."
Jim Turner, Chair of the Atikokan Economic Development Corporation
Quick Facts
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The Atikokan Economic Development Corporation is one of 24 Community Futures Development Corporations (CFDCs) funded by FedNor to provide financing, mentoring and business development services to 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.
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The investment announced today was provided through the Community Futures program, a national program which supports projects that promote sustainable community economic development, enhance business development and growth, and facilitate innovation.
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The Canada 150 Community Infrastructure Program (CIP 150) is part of the Government of Canada’s coordinated approach to mark the 150th anniversary of Confederation. It is designed to leave a lasting legacy by supporting the rehabilitation or improvement of existing community infrastructure assets and facilities across the country that promote community and cultural benefits for the public
Associated Links
Contacts
Paul Denis
Communications Officer
FedNor
705-507-0539
paul.denis@canada.ca