Helping Northern Ontario businesses capitalize on growth opportunities
News release
Government of Canada invests to empower local companies better compete for defence industry contracts
July 29, 2019 – Sault Ste. Marie, ON — Federal Economic Development Initiative for Northern Ontario — FedNor
Northern Ontario businesses are being encouraged to take advantage of opportunities in the defence industry supply chain thanks to a Government of Canada investment of $785,740. The FedNor funding will enable the Sault Ste. Marie Economic Development Corporation (SSMEDC), on behalf of Ontario North Economic Development Corporation (ONEDC), to undertake a three-year pilot project to assist companies and SMEs compete for lucrative defence-related contracts and work.
The announcement was made today by Terry Sheehan, Member of Parliament for Sault Ste. Marie, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and Minister responsible for FedNor.
As part of the project, the SSMEDC will hire a project manager and a coordinator to provide technical support to companies in their bid preparation and certification efforts, as well as to develop and host workshops to raise awareness of opportunities, and develop a recruitment and retention strategy for businesses and innovation stakeholders in the defence industry. This project dovetails with the Government of Canada’s Industrial and Technological Benefits (ITB) Policy, which encourages companies to establish or grow their presence in Canada, strengthen Canadian supply chains, and develop Canadian industrial capabilities in areas such as innovation, research and development, supplier development, and exports.
Quotes
“The Government of Canada's Industrial and Technological Benefits Policy helps innovative companies create high-skilled, well-paying middle-class jobs for Canadians. By partnering with organizations like Northern Ontario’s economic development corporations, we are leveraging investments in the Canadian defence industry to drive community and small business growth, and strengthen our economy.”
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and Minister responsible for FedNor
“I’m proud our government is investing once again in the SSMEDC. This investment will support Northern Ontario companies by helping them compete for lucrative defence sector contracts, leading to additional job creation and diversification throughout the riding of Sault Ste. Marie and the entire region.”
- Terry Sheehan, Member of Parliament for Sault Ste. Marie
“The ITB Policy opens a window of opportunity to meet with multinational companies that are part of global supply chains, not just in defence but in a number of other commercial and industrial sectors. Thanks to this investment from FedNor, we will help Northern Ontario SMEs and companies to prepare and compete in this demanding industry.”
- John Febbraro, Manager of Business Development, Sault Ste. Marie Economic Development Corporation
Quick facts
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The funding announced today is provided through FedNor’s Regional Economic Growth through Innovation (REGI) program, which supports the growth of Canadian businesses, their expansion into new markets and their adoption of new technologies and processes.
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The Canadian defence industry is comprised of over 660 firms that generate $10 billion in sales and contribute close to 60,000 jobs for Canadians. These companies include large Canadian-owned firms, Canada-based subsidiaries of large multinational companies, and many small and medium-sized businesses in Canada that employ highly skilled workers in high-quality jobs.
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The Ontario North Economic Development Corporation (ONEDC) is a non-profit corporation mandated to create, promote, and implement economic development partnership between the cities of North Bay, Timmins, Sudbury, Thunder Bay and Sault Ste. Marie, and other regional development organizations in Northern Ontario.
Associated links
Contacts
Barclay Babcock
Communications Officer
FedNor
705-690-0957
barclay.babcock@canada.ca