Harper Government Investment Supports Business Development and Growth in the Kenora Region

News Release

April 10, 2015 — Kenora, Ontario — Industry Canada/FedNor

The Honourable Greg Rickford, Canada's Minister of Natural Resources and Minister for the Federal Economic Development Initiative for Northern Ontario (FedNor), announced today an investment to support business development and growth, innovation and jobs in the Kenora region.

FedNor investments totalling $1,548,270 will help strengthen the regional economy by supporting two key projects in the Kenora area. To provide small and medium-sized enterprises with business counselling services and access to capital, as well as support for community strategic planning initiatives, the Lake of the Woods Business Incentive Corporation (LOWBIC) will receive $1.5 million to support its ongoing operations for a five-year period. As part of the announcement, Takemetuit Inc. will receive a repayable contribution of $48,270 to conduct design, manufacturing and testing of hardware and software for the company's second generation indoor positioning system.

The funding announced today is provided through FedNor's Northern Ontario Development and Community Futures programs, which support projects that promote sustainable community economic development, enhance business development and growth, and facilitate innovation.

Quick Facts

Since 2006, through FedNor's Community Futures and Northern Ontario Development Programs, the Harper Government has invested $413 million in support of more than 1,775 projects.
Based in Kenora, LOWBIC is one of 24 Community Futures Development Corporations (CFDCs) funded by FedNor to serve Northern Ontario businesses and communities. CFDCs are community-based, not-for-profit organizations run by volunteer boards and staffed by experienced business and economic development professionals.
Takemetuit Inc. is a Canadian-owned company that has been perfecting indoor positioning since 2011. Its unique and innovative proprietary hardware and apps help guide shoppers to within inches of specific products using standard smart phone technology.

Quotes

“Our Government is proud to work with community partners to help small and medium-sized enterprises grow, succeed and create jobs right here in Kenora and across Northern Ontario. By partnering with organizations, such as the Lake of the Woods Business Incentive Corporation and Takemetuit Inc., the Harper Government is helping to strengthen the small business sector and generate positive economic results for the people, businesses and communities of this region.”
- The Honourable Greg Rickford
Canada's Minister of Natural Resources and Minister for the Federal Economic Development Initiative for Northern Ontario

“Today's announcement will ensure that entrepreneurs and businesses throughout the area have continued access to the resources they need to be successful and create jobs. This investment demonstrates confidence in the work we do and the results we achieve for the communities and businesses we serve.”
- Fred Wright
Chair, Lake of the Woods Business Incentive Corporation

Associated Links

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

Contacts

Alexandra Lemieux
Press Secretary
Office of the Honourable Greg Rickford
613-996-2007
Alexandra.Lemieux@NRCan-RNCan.gc.ca

Barclay Babcock
Communications Officer
FedNor
705-690-0957 or 1-877-333-6673 Ext 303

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Harper Government Investment Supports Business Development and Growth in the Kenora Region

News Release

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