FedNor investments to support development and growth of forestry-based businesses in Parry Sound-Muskoka

Backgrounder

As our economy continues to feel the impacts of COVID-19, the Government of Canada is stepping up efforts to help Northern Ontario businesses innovate and scale up, while supporting jobs and regional economic growth in the Parry Sound-Muskoka region.

Terry Sheehan, Parliamentary Secretary to the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedNor, today announced a FedNor investment of $422,500 in support of two strategic initiatives designed to create and maintain jobs, enhance business development and maximize growth opportunities in the region.

Parry Sound-Muskoka initiatives supported by FedNor

Muskoka Timber Mills Ltd.
$400,000

Muskoka Timber Mills Ltd will receive a repayable investment of $400,000 through FedNor’s Targeted Manufacturing Initiative for Northern Ontario to purchase and install new equipment aimed at increasing its production capacity to meet growing product demand. Specifically, the Bracebridge, family-owned company will acquire a paint-line system to treat wood siding and a four-sided planer to create large, dressed wooden beams, in addition to automating several processes to become more efficient, reduce costs and be more competitive. The investment will help create seven new positions and maintain seven other jobs.

Westwind Forest Stewardship Inc.
$22,500

An investment of $22,500 through FedNor’s Northern Ontario Development Program, will enable Westwind Forest Stewardship Inc. to conduct a study to identify and assess options for the utilization of the low-end wood supply along the Highway 400 corridor in the vicinity of Britt, Ontario. The long term goal is to create a market for low cost/low quality wood fibre in the area that would help further develop existing businesses, support the creation of new enterprises and create jobs.

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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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