Government of Canada invests to help maximize business growth opportunities in Parry Sound – Muskoka
FedNor injects $422,500 to enhance business productivity and competitiveness, create seven jobs and help maintain seven more
February 9, 2021 – Huntsville, ON – Federal Economic Development Initiative for Northern Ontario – FedNor
Advanced manufacturing is a cornerstone of Canada’s economy, producing important goods for the domestic and international markets while supporting well paying jobs for Canadians across the country. As technology transforms manufacturing, Canadian companies are innovating and modernizing their processes to stay on the cutting edge. This involves transforming operations, adopting innovative technologies, improving productivity and maintaining a highly skilled workforce.
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 totalling $422,500 to help businesses expand, enhance competitiveness, boost profitability and strengthen the regional economy in Parry Sound-Muskoka.
Provided through FedNor’s Regional Economic Growth through Innovation and Northern Ontario Development Programs, this funding will support two strategic initiatives aimed at helping businesses to scale up, enhance productivity, increase sales, and create seven jobs and maintain seven other positions. As part of this announcement, Muskoka Timber Mills Ltd. will receive a repayable contribution of $400,000 to purchase new equipment and upgrade its operations. The remaining $22,500 will be used by the Westwind Forest Stewardship to determine how to best utilize untapped forest resources in the region of Britt, Ontario.
"The Government of Canada recognizes that strong regional economies rely upon the success of local businesses and entrepreneurs. That is why we work through our Regional Development Agencies, like FedNor, on the ground to provide small and medium-sized enterprises with the tools they need to scale up and compete in the global marketplace.”
- The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedNor
“Today’s announcement demonstrates our commitment to support business efforts to innovate and adopt new technologies. This will in turn assist them to expand their operations, increase output and strengthen Northern Ontario’s economy. Through this investment, we will create well-paying jobs and support families living and working in the Parry Sound-Muskoka region.”
- Terry Sheehan, Parliamentary Secretary to the Minister of Economic Development and Official Languages and Minister responsible for FedNor
“We would like to thank the Government of Canada and FedNor for their tremendous support that has enabled our company to acquire innovative equipment and implement new technologies and processes that will set us on a course for growth, increased productivity and sales.”
- Ric Singor, President and Owner, Muskoka Timber Mills
“Thanks to FedNor support, we are excited about exploring identified opportunities associated with low-end wood fibre in our region that could lead to the development of potential niche businesses with area communities and First Nations. Ultimately, we are seeking to help diversify the regional economy and create jobs for local residents.”
- Steve Munro, Manager, Westwind Forest Stewardship
The funding announced today is provided through FedNor’s programs, which support projects that promote sustainable community economic development, enhance business development and growth, and facilitate innovation.
FedNor is contributing $422,500 to support two strategic initiatives focused on business growth, community economic development and job creation in Parry Sound-Muskoka.
Office of the Minister of Economic Development and Official Languages
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