Today, Viviane Lapointe, Member of Parliament for Sudbury, and Marc G. Serré, Member of Parliament for Nickel Belt and Parliamentary Secretary to the Minister of Official Languages, announced a FedNor investment of $1,834,000 in Northern Ontario Enterprise Gateway (Northern Ontario Angels), a not-for-profit organization led by a board of volunteers that links private investors with Northern Ontario business to stimulate investment opportunities in the region. The announcement was made on behalf of the Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor.

“Thanks to the Northern Ontario Angels, over 100 local businesses will be able to innovate, expand and grow. This will strengthen our northern economy and communities. Families across the entire region will be able to count on hundreds of new good-paying jobs. This is exactly what’s needed to grow an economy that works for everyone, not just the few.”

-       The Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor

“Organizations like the Northern Ontario Angels make fantastic partners, because they share our vision for a thriving Northern Ontario. This FedNor investment will encourage entrepreneurship and cultivate industry collaboration here in the region, and those opportunities will help industrial centres like Sudbury thrive.”

-       Viviane Lapointe, Member of Parliament for Sudbury

“Investments in Northern Ontario businesses ensure the sustainability of our regions while helping improve quality of life for people in Sudbury, in Nickel Belt, and across the North. By supporting increased access to investments for our local small and medium sized businesses, FedNor is helping to build a resilient regional economy that will enhance the growth and vitality of our communities.

-       Marc G. Serré, Member of Parliament for Nickel Belt and Parliamentary Secretary to the Minister of Official Languages

“Our goal is to help companies in Northern Ontario grow and succeed through the attraction of angel investments, and FedNor’s support is critical in helping us accomplish that goal. We are proud to partner with FedNor in making connections and generating opportunities, and building a stronger Northern Ontario economy."

-       Ian Lane, Executive Director of Northern Ontario Angels

• The funds announced today are provided through FedNor’s Northern Ontario Development Program (NODP), through which FedNor invests in projects led by municipalities, First Nations, and other organizations and institutions that support community economic development, diversification, job creation and self-reliant communities in Northern Ontario.

  • Since 2015, FedNor has provided more than $304 million in NODP funding to support 873 projects across Northern Ontario.

• The Northern Ontario Angels works to stimulate investments in Northern Ontario companies to help them grow and succeed by improving the flow of investment capital, investment education, and management expertise into high-growth potential Northern companies.

  • Since their creation in 2005, the Northern Ontario Angels have helped over 500 companies receive investments of over $250 million from angel investors. Through their investment connections, the Northern Ontario Angels have helped create and maintain nearly 6000 new jobs across Northern Ontario

Associated links

• To find out more about our programs and services, please visit: fednor.gc.ca
• Follow us on Twitter @FedNor

Zeus Eden
Press Secretary
Minister of Indigenous Services and Minister responsible for FedNor
zeus.eden@sac-isc.gc.ca

Federal Economic Development Agency for Northern Ontario|
Media Relations