Government of Canada invests to accelerate business growth and help create or maintain up to 1155 jobs in the Kenora region
News release
FedNor funding to support business expansion, community growth and economic recovery efforts
July 16, 2021 – Kenora, ON – Federal Economic Development Initiative for Northern Ontario – FedNor
Across the country, Community Futures Development Corporations (CFDCs) are helping entrepreneurs start or expand their businesses, and investing in communities to strengthen the economy. 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, recovery efforts and local priority projects.
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 more than
$6.6 million in support of six strategic initiatives in the Kenora region. The funded projects are expected to support more than 400 businesses, help create or maintain up to 1155 jobs, and maximize development and growth opportunities throughout the region.
Specifically, the FedNor funding will support six projects led by the Lake of the Woods Business Incentive Corporation, Chukuni Communities Development Corporation and Patricia Area Community Endeavours, three of the region’s Community Futures organizations.
Today’s announcement is further proof of the Government of Canada’s commitment to Canadian entrepreneurs and businesses – helping them to overcome the challenges posed by COVID-19. Initiatives like these will assist Canadians to get 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. In these uncertain times, we want Canadian businesses 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 and grow Northern Ontario’s economy and create good jobs.”
- The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedNor
“Today’s investment of $6.6 million will help create or maintain up to 1155 jobs in the Kenora region by accelerating community economic development and helping businesses start up, scale up and improve productivity. By helping businesses and communities to overcome the challenges posed by the pandemic, our government is setting the stage for a strong and effective economic recovery.”
- Terry Sheehan, Parliamentary Secretary to the Minister of Economic Development and Official Languages and Minister responsible for FedNor
“This strong show of support demonstrates the Government of Canada’s confidence in the Community Futures Program and the work that we do to maximize growth opportunities, support recovery efforts and strengthen the regional economy. I am thrilled that FedNor recognizes our impressive record of success related to job creation, community, business and economic growth, and helping businesses start and scale up in the Kenora region.”
- James Hendy, Board Chair, Lake of the Woods Business Incentive Corporation
“We would like to thank Lake of the Woods Business Incentive Corporation for its financial assistance as we continue to expand our business. In addition, its staff has always been there for us providing us invaluable business advice to allow our company to continue to grow in Northwestern Ontario.”
- Nicole Brown, Chief Operating Officer, FSET
Quick facts
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The funding announced today is provided through FedNor’s Community Futures Program (CFP) and Northern Ontario Development Program (NODP), which supports projects that promote sustainable community economic development, diversification and business growth.
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FedNor supports 24 Community Futures Development Corporations (CFDCs) located throughout Northern Ontario. These community-based, not-for-profit organizations are staffed by professionals and are each governed by local volunteer boards of directors familiar with their communities' needs, concerns and future development priorities.
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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
Kim Fewchuk
Communications Officer
FedNor
705-971-4112
kim.fewchuk@ised-isde.gc.ca
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