FedNor investments support innovation and business growth in the Parry Sound—Muskoka region

Backgrounder

As our economy recovers from the impact of COVID-19, the Government of Canada is stepping up efforts to help Northern Ontario communities and businesses throughout the region build capacity, innovate and grow.

The Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor, announced a FedNor investment of more than $7.5 million for nine strategic initiatives that support innovation, job creation and industry growth in the Parry Sound–Muskoka region, all designed to scale up companies and help them become more competitive.

Projects in the Parry Sound—Muskoka region

The Corporation of the Township of Seguin
$3,000,000

With $3,000,000 in Northern Ontario Development Program funding, through FedNor, the Township of Seguin will create new air side lots for aviation/aerospace business development. With growth previously constrained by inaccessible and unsuitable land, this initiative will allow the township to help attract and retain businesses. To date, seven aviation/aerospace companies have expressed interest in locating or expanding their operations at the Parry Sound Area Municipal Airport and Business Park.

Icarus Aero Inc.
$1,080,000  

Icarus Aero Inc. will expand and acquire new innovative equipment for its manufacturing plant in Gravenhurst thanks to a repayable contribution of $1,080,000 in Regional Economic Growth through Innovation Program funding made available through FedNor. The expansion at the Muskoka Airport Business Park will increase the aerospace company’s square footage to accommodate extra production space required to meet market demand. This strategic investment will help automate several processes and modernize the production facility enhancing Icarus Aero Inc.’s competitive edge in the global market place. These improvements are expected to lead to the creation of up to 20 new highly skilled jobs over the next five years.

Eco Development Group Inc.
$1,000,000

Eco Development Group Inc. will use a $1,000,000 repayable contribution from FedNor to buy new, innovative value-added wood-processing equipment. The Regional Economic Growth through Innovation funding will help this start-up Parry Sound company, which specializes in designing and fabricating house kits, to bring the latest technology in cross laminated timber technologies and home building to Northern Ontario. In addition, this investment will lead to 46 new jobs.

Crofter’s Food Ltd.
$883,281

A repayable FedNor contribution of $883,281 in Regional Economic Growth through Innovation funding, will enable Crofter’s Food Ltd. of Parry Sound to purchase equipment, consolidate its production operations,  and adopt and adapt the latest innovative techniques associated with the processing of value-added fruit products. This strategic investment is expected to create 14 new full-time jobs in the skilled fields of science, logistics, and organic food production.  

Colquhoun Audio Laboratories Limited
$533,440

With a FedNor repayable contribution of $533,440, through Regional Economic Growth through Innovation funding, Colquhoun Audio Laboratories Limited will purchase the latest in acoustical technology. The new equipment will allow the company, based in Dwight,  to bring more of its component manufacturing in house, reducing reliance on outside/foreign vendors and securing the inventory it needs. In addition, by completing every aspect of the production process at one location, Colquhoun Audio Laboratories Limited will be able to monitor quality control, as well as the adoption of technology, resulting in enhanced production at a lower cost. This investment is expected to result in the creation of 15-20 jobs.

Embertech Industrial Inc.
$420,400

Embertech Industrial Inc. will receive a repayable contribution of $420,400 to increase productivity at its new 13,500 sq. ft. manufacturing facility in Bracebridge and re-orient its production towards more complex, higher margin hydro development projects. Specifically, this Regional Economic Growth through Innovation funding, through FedNor, will be used to buy innovative equipment and implement new technologies. Once complete, this project will lead to the creation of 10 new jobs.

Legend Spirits Company
$241,000

Located in Parry Sound, Legend Spirits Company will receive $241,000 in Regional Economic Growth through Innovation funding, under the Jobs and Growth Fund. Specifically, this repayable investment through FedNor will assist the start-up craft distillery with equipment purchases, leasehold improvements and professional services to support the manufacturing process and some training. Once complete, the company plans to create 13 full-time positions.  

Muskoka Timber Mills
$200,000

Muskoka Timber Mills is purchasing two new wood drying kilns thanks to a $200,000 repayable investment in Regional Economic Growth through Innovation funding from FedNor. The new equipment will eliminate the need for the Bracebridge company to ship its wood elsewhere for drying, increasing the efficiency of its operations and enabling it to increase production. This project will create up to 10 new jobs.  

Lake of Bays Brewing Company Limited
$197,500

With a repayable contribution of $197,500 in Regional Economic Growth through Innovation funding through FedNor, Lake of Bays Brewing Company Limited will purchase new equipment to increase production capacity at its Baysville facility. Additional lab equipment will improve in-house quality assurance capabilities while an automated can sleeve applicator at its warehouse in Bracebridge will enable the brewery to apply decorative sleeves to plain aluminum beverage cans providing a cost-effective alternative to traditional labels for smaller production runs. Once the project is complete, the company anticipates to create up to six new positions.

Related Products

Associated Links

Contacts

Alison Murphy, Press Secretary
Office of the Minister of Indigenous Services and Minister responsible for FedNor
Alison.Murphy@sac-isc.gc.ca

Federal Economic Development Agency for Northern Ontario
Media Relations

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