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FedNor funding supports nine initiatives focused on innovation and business growth and will create up to 139 jobs throughout the region
April 1, 2022 – Parry Sound, ON – Federal Economic Development Agency for Northern Ontario – FedNor
Innovation and technology adoption are key to driving our economy forward as we recover from the impact of COVID-19. Through regional development agencies, such as FedNor, the Government of Canada is investing at the local level to promote and adopt technologies, explore innovative commercial opportunities, and support community and business growth while creating jobs for Canadians.
The Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor, today announced Government of Canada investments totalling $7,555,621 for nine initiatives in support of businesses in the Parry Sound and Muskoka region. These investments will also create up to 139 jobs over the next five years. For the full list of projects, please see backgrounder.
Provided through FedNor, the Northern Ontario Development Program (NODP) and Regional Economic Growth through Innovation (REGI) funding will support the adoption of new technologies, expansion of operations, and modernization of production facilities. These projects are designed to retain and attract new businesses, as well as contribute to a stronger and more diversified regional economy.
Northern Ontario has been hard hit by COVID-19 and today’s announcement is further proof of the Government of Canada’s commitment to families, communities and businesses, helping them to not just survive, but also thrive. It will help get Canadians back to work and ensure that the Parry Sound–Muskoka region is well positioned to fully participate in Canada’s economic recovery.
“Strong local economies rely upon the growth of local businesses and manufacturers. In these uncertain times, we want to provide Canadian businesses with the tools they need to expand their operations, increase their productivity and take advantage of new business opportunities. Helping business and community partners adapt to the quickly evolving economic realities will help support efforts to strengthen Northern Ontario’s economy.
– The Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor
“Today’s announcement supports one of our priority community projects that will help accelerate community economic development, enhance business growth and facilitate business attraction. This FedNor funding will address the infrastructure needed to lay the groundwork for future growth at the Parry Sound Area Municipal Airport and Business Park.”
– Ann MacDiarmid, Mayor, Township of Seguin
“With FedNor support, our company is scaling up and re-orienting our production towards more complex, higher margin hydro development projects which will enable us to expand our market. The investment announced today will help us modernize and substantially increase productivity of our manufacturing operations, allowing us to bid on larger, more complex contracts.”
– Tanya Neal, General Manager, Embertech
Alison Murphy, Press Secretary
Office of the Minister of Indigenous Services and Minister responsible for FedNor
Federal Economic Development Agency for Northern Ontario
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