In recognition of Small Business Week, and to celebrate the spirit of entrepreneurship in the North, the Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor, announced FedNor investments totalling $8,165,932 to support, sustain, and grow small businesses across Northern Ontario. Provided through FedNor’s core programs, the investments will support 15 small business related initiatives in municipalities and Indigenous communities across the region, helping to create and maintain 681 jobs.
Small Business initiatives supported by FedNor in Northeast Region
Timmins Economic Development Corporation
Timmins Economic Development Corporation is receiving $1,217,480 to help regional small and medium-sized businesses access capital to commercialize innovative products, services and processes, scale-up and expand into new markets.
Nord-Aski Regional Economic Development Corporation (Nord-Aski)
Nord-Aski is receiving $1,100,000 in investment funding to help entrepreneurs start or scale-up their businesses.
Nord-Aski Regional Economic Development Corporation
Nord-Aski is receiving is receiving $403,000 to administer the Northeastern Ontario Investment Pool for the next three years, allowing the 13 partner CFDCs in the region to invest in high-potential large-scale projects.
360 Boring Services Inc.
360 Boring Services Inc. is receiving a repayable investment of $360,889 to upgrade its facility in Timmins, purchase new equipment and improve efficiencies and profitability.
NECO Community Futures Development Corporation (NECO)
NECO is receiving $1.6 million to support its ongoing operations for the next five years, ensuring the organization can continue to provide business counseling and investment services to small and medium-sized businesses, and leadership in community strategic planning.
Lynch Ag Ltd.
Lynch Ag is receiving a repayable investment of $755,000 to expand its operations, purchase new equipment and establish a state of the art specialized seed potato storage and handling facility.
Feather Company Ltd.
Feather Company Ltd. is receiving a repayable investment of $500,000 to support late-stage development for its patented HIYA device, a Pressurized Metered Dose Inhaler platform for medicinal and adult-use markets in Canada, Europe, and the United States.
Dr. Clean Inc.
Dr. Clean Inc. is receiving $100,000 to expand its operations and purchase new equipment to help them capitalize on the immediate and increasing demand for commercial and industrial cleaning services.
Small Business initiatives supported by FedNor in the Northcentral Region
Z’gamok Construction LP
Z’gamok Construction LP s receiving a repayable investment of $588,000 to purchase new heavy duty equipment and implement a business plan to help expand and diversify its operations.
Lock City Dairies
Lock City Dairies is receiving $137,729 to expand the existing warehousing and distribution facility to accommodate new growth.
Small Business initiatives supported by FedNor in the Northwest Region
Nishnawbe Aski Development Fund
Nishnawbe Aski Development Fund is receiving $960,000 to support it’s ongoing Community Futures operations for a three-year period, which includes providing business counselling and investment services for Indigenous small businesses.
Cramer Dairy Farms
Cramer Dairy Farms is receiving $209,700 to construct a new calf facility and to acquire equipment and technology to improve efficiency, environmental sustainability, and bio-security.
Roots to Harvest
Roots to Harvest is receiving $99,500 for strategic building renovations that will facilitate new and expanded programing, partnerships, job creation, and new business opportunities to support its recent designation as a Canadian Community Food Centre.
Rainy River District Regional Abattoir
Rainy River District Regional Abattoir is receiving $108,231 to expand the Rainy River Meats processing facility.
Eagle River Enterprises
Eagle River Enterprises is receiving $17,655 to install a new insulated, energy-efficient garage bay door, which will reduce the carbon footprint by lowering heating costs.
/Public Release. This material from the originating organization/author(s) may be of a point-in-time nature, edited for clarity, style and length. The views and opinions expressed are those of the author(s).View in full here.