Government of Canada injects $3.6 million in the Hearst and Superior East regions: more than 1850 jobs supported
News release
FedNor investments to support business growth and regional recovery efforts
November 10, 2020 – Hearst, ON – Federal Economic Development Initiative for Northern Ontario – FedNor
Across the country, Community Futures Development Corporations (CFDCs) are investing in communities to strengthen the economy, and helping entrepreneurs start or scale-up their businesses. In Northern Ontario, these community-based, not-for-profit organizations are working hard to create jobs and provide a full range of business development services, including access to capital, mentoring, information and referrals, as well as support for community economic development, including their current focus on recovery efforts.
Terry Sheehan, Parliamentary Secretary to the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedNor, today announced Government of Canada investments of more than $3.6 million to help communities prosper, and assist businesses to grow and create or maintain jobs in the Hearst and Superior East regions.
Provided through FedNor’s Community Futures Program, this funding will support three initiatives led by Nord-Aski Regional Economic Development Corporation (Nord-Aski) and Superior East Community Futures Development Corporation (Superior East CFDC). Once complete, these strategic initiatives are expected to support nearly 400 local businesses, and help create or maintain more than 1850 middle-class jobs across the region.
Today’s announcement is further proof of the Government of Canada’s commitment to Canadian businesses – helping them to overcome the challenges posed by COVID-19. Initiatives like these will help get Canadians back to work and ensure that small businesses, which are the backbone of the Canadian economy, can play a major role in Canada’s economic recovery.
Quotes
“Strong local economies rely upon the prosperity and growth of local businesses and entrepreneurs. In these uncertain times, we want Canadian businesses and workers to know that we have their back. We will help our business and community partners adapt to the quickly evolving social and economic realities, and support their efforts to strengthen Northern Ontario’s economy and create good jobs for Ontarians.”
- The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedNor
“Community Futures organizations across Northern Ontario are helping small and rural communities diversify and grow their economies. Recognizing that one size does not fit all, these community-based organizations are responding to local needs and development priorities thanks to support from the Government of Canada. Today’s announcement will help them advance a variety of priority projects that will generate business opportunities, private-sector investments and good-paying jobs to support families living and working in the Hearst and Superior East regions.”
- Terry Sheehan, Parliamentary Secretary to the Minister of Economic Development and Official Languages and Minister responsible for FedNor
“This strong show of support from FedNor and the Government of Canada speaks to our record of success in fostering community, business and economic growth, while helping businesses start and scale-up operations. We are excited to work with our regional partners to jumpstart the economy by doing what we do best – supporting communities, entrepreneurs and business growth throughout the region.”
- George Graham, Chair, Nord-Aski Regional Economic Development Corporation
“Today’s announcement will ensure the Superior East CFDC can continue to respond at the speed of business to support jobs, entrepreneurs and community economic growth in the Superior East region. By providing businesses with access to capital and a one-stop shop for business support services, we are helping to fuel the economy and enhance regional recovery efforts.”
- Mélanie Pilon, Chair, Superior East Community Futures Development Corporation
Quick facts
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The funding announced today is provided through FedNor’s Community Futures Program, which supports projects that promote sustainable community economic development, enhance business development and growth, and facilitate innovation.
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FedNor is contributing more than $3.6 million ($3,655,000) to support three (3) strategic initiatives focused on community economic development, business growth, investment attraction and job creation in the Hearst and Superior East regions.
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Contacts
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