FedNor supports Northeastern Ontario businesses and workers to help them recover from the impacts of COVID-19
News release
Canada’s federal COVID-19 Economic Response plan provides nearly $6 million to support more than 30 small and medium-sized businesses through the Regional Relief and Recovery Fund
November 12, 2020 – North Bay, ON – Federal Economic Development Initiative for Northern Ontario – FedNor
Canada’s COVID-19 Economic Response Plan, designed to stabilize the Canadian economy during the global pandemic, has helped protect millions of jobs, provide emergency support to families, and keep businesses afloat. One of its key programs, the Regional Relief and Recovery Fund (RRRF) delivered through the Regional Development Agencies such as FedNor, has assisted nearly 14,000 clients across Canada including more than 4800 women-owned or operated businesses and 2500 tourism businesses. In Northern Ontario alone, it has supported more than 777 businesses and organizations – including 267 tourism, 110 women-owned or operated and 60 Indigenous businesses – helping them mitigate the financial pressures caused by the pandemic while maintaining more than 3,300 jobs in the region.
Funding to bolster workers and businesses in the Nipissing-Timiskaming and Parry Sound-Muskoka regions
The Government of Canada is continuing to do all that it can to provide support to those who need it the most. That is why Terry Sheehan, Member of Parliament for Sault Ste. Marie and Parliamentary Secretary to the Minister of Economic Development and Official Languages and Minister responsible for FedNor, today announced that $5.9 million has been provided to support businesses and organizations in Northeastern Ontario facing financial hardship due to the COVID-19 pandemic. The announcement was made on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister for FedNor.
Today’s funding, provided through the RRRF, is enabling 32 small and medium-sized businesses, and organizations such as the North Bay and District Chamber of Commerce, Innovation Initiatives Ontario North and Muskoka Steamships Association, to bridge the financial gap caused by the pandemic.
The RRRF, which is still accepting applications, provides financial contributions to help support businesses and organizations with their operating costs, where revenues have been negatively impacted by the COVID-19 pandemic.
Quotes
“Our government is proud to help businesses and organizations bridge the gap and help ensure that they make it through these challenging times. Today’s announcement supports our phased plan for a robust and lasting recovery that supports good jobs here in Northeastern Ontario and across the country. We will continue to do everything in our power to keep Canadians healthy, safe and solvent.”
- Terry Sheehan, Parliamentary Secretary to the Minister of Economic Development and Official Languages and Minister responsible for FedNor
“Businesses all across Canada have been hard hit hard by COVID-19. That’s why, through Regional Development Agencies like FedNor in Northern Ontario, the federal government is providing businesses vital support, and saving thousands of jobs. I want to assure Northern Ontario businesses that while our government manages this health crisis, we will be there to support you for as long as it takes, with whatever it takes, and we will get through this together. “
- The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedNor
“Small and medium-sized businesses are the backbone of the Nipissing-Timiskaming economy. By acting quickly to come to the aid of businesses and organizations through the Regional Relief and Recovery Fund and other federal initiatives, we are helping to safeguard businesses and protect local communities from the long-term economic impacts of the COVID-19 pandemic.”
- The Honourable Anthony Rota, Member of Parliament for Nipissing-Timiskaming
“Innovators and jobs creators are facing unprecedented challenges and this investment will allow us to deliver immediate COVID-19 support through our Step Forward Entrepreneurs Program. As a result of this funding, we expect to provide direct support to more than 25 local companies, while helping to maintain more than 25 jobs in the region.”
- Rob Deline, Executive Director, Innovation Initiatives Ontario North
“Our tourism industry has been especially hard hit by COVID-19 and we’re pleased that FedNor is stepping up with support to help us stay afloat so we’re ready to welcome visitors back as soon as possible. Better times are ahead and investments like these will ensure businesses and organizations in the region are ready to go for the upcoming tourism season.”
- John Miller, President, Muskoka Steamships Association
Quick facts
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In Northern Ontario, FedNor has an allocation of $71.8 million through RRRF.
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Delivered by the six Regional Development Agencies (RDAs), the Fund addresses gaps left by other federal relief measures, and complements those already provided by other levels of government.
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Recognizing the significant impact that COVID-19 has had on tourism in Northern Ontario, FedNor has invested nearly $13.8 million in RRRF funding throughout the region to support the recovery and growth of this important industry.
Associated links
Contacts
Catherine Mounier-Desrochers
Press Secretary, Office of the Minister of Economic Development and Official Languages
catherine.mounier-desrochers@canada.ca
Barclay Babcock
Communications Officer
FedNor
705-690-0957
barclay.babcock@canada.ca
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