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FedNor invests over $8.1 million to support small businesses and create jobs across Northern Ontario

Press Release

From: Federal Economic Development Agency for Northern Ontario – FedNor

October 18, 2022

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, today 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 projects in municipalities and Indigenous communities across the region, helping to create and maintain 681 jobs.

For the full list of projects and investment details, please see the backgrounder.

Small businesses are one of the largest employers of Canadians, with over 60% of the workforce employed by this key sector prior to the pandemic. In 2019, rural areas were home to 312,500 small businesses, making them a cornerstone of regional economies. This includes Northern Ontario, where FedNor is stepping up efforts to help small businesses recover, innovate, start or scale up and create local jobs.

Quotes

“Small Business Week is a time to celebrate the creative, persistent, and hardworking people that drive small businesses across Northwestern Ontario and Canada, creating good jobs and strong local economies. This year’s theme is Dare to do things differently: Power up your growth. FedNor is investing over $8.1 million in 15 different small business projects, helping to power that growth and creativity that makes us all proud in our communities.”

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

“The powerful spirit of small businesses is a big part of what built and continues to grow the economy of the Sault Ste. Marie region. When we recognize Small Business Week, we celebrate our past, present, and future.”

– Terry Sheehan, Member of Parliament for Sault Ste. Marie and Parliamentary Secretary to the Minister of Labour

“Small businesses are the building blocks that connect communities, and in rural regions like those across Northwestern Ontario, their vital role in our economy is clear. Small Business Week is an important celebration, and this FedNor investment is a great way to honour them.”

– Marcus Powlowski, Member of Parliament for Thunder Bay—Rainy River

“What better way than Small Business Week to recognize the contributions that small and medium-sized businesses make to the Canadian economy. Small businesses are at the heart of Northern Ontario and our government is pleased to be able to provide entrepreneurs in the Greater Sudbury area with the resources they need to succeed.”

– Viviane Lapointe, Member of Parliament for Sudbury

“Today’s announcement clearly demonstrates that the federal government is committed to working at a grassroots level to create jobs and promote business development and growth, while generating economic results for the people and businesses of Nipissing-Timiskaming, and across Northern Ontario.”

– Anthony Rota, Member of Parliament for Nipissing–Timiskaming

“Small businesses are the heart and soul of our communities.  We are pleased today’s investments will ensure they have continued access to the resources they need to start-up, scale-up and build for the future. We look forward to working with FedNor and our CFDC partners to take our economy to the next level and the Northeastern Ontario Investment Pool will help us achieve exactly that!”

– George Graham, Chairperson, Nord-Aski Regional Economic Development Corporation

Quick facts

  • Provided through FedNor’s core programs, the funding announced today will support 15 small business related initiatives in municipalities and Indigenous communities across the region, helping to create and maintain 681 jobs.
  • Small Business Week, is an annual celebration of entrepreneurship that the Business Development Bank of Canada has organized for 43 years. Every year, close to 10,000 entrepreneurs gather to learn, network and celebrate Canada’s dreamers and doers. This year, Small Business Week runs from October 16 to 22, 2022.

Related products

Associated links

Contacts

Alison Murphy, Press Secretary
Office of the Minister of Indigenous Services and Minister responsible for FedNor
[email protected]

Federal Economic Development Agency for Northern Ontario
Media Relations

IBF5

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