Government of Canada invests in technology and innovation to help businesses start up, scale up and commercialize new products
News release
FedNor invests more than $5.3 million to support recovery efforts, grow the economy and help create up to 870 jobs in Thunder Bay—Superior North, Thunder Bay—Rainy River and across Northern Ontario
April 12, 2021 – Thunder Bay, ON – Federal Economic Development Initiative for Northern Ontario – FedNor
Businesses and communities across the country are working hard to recover from the effects of COVID-19 and the Government of Canada continues to support their efforts during these difficult times. Through strategic investments in technology and innovation, the government is providing them with the tools and resources they need to not only survive but thrive as we revitalize our economy.
The Honourable Patty Hajdu, Minister of Health, and Member of Parliament, Thunder Bay—Superior North, and Marcus Powlowski, Member of Parliament, Thunder Bay—Rainy River, today announced a FedNor investment of more than $5.3 million to support seven strategic initiatives in the Thunder Bay—Superior North and Thunder Bay—Rainy River regions. These targeted investments will help businesses start up, scale up, develop new products and clean-tech, while helping to create up to 870 jobs across Northern Ontario.
Provided through FedNor’s Regional Growth Through Innovation program, the investments will help build and grow the region’s innovation ecosystem, support clean-tech, accelerate business development and growth, and maximize economic opportunities. Businesses and organizations that will benefit from this funding include Northern Ontario Angels, Northwestern Ontario Innovation Centre, Centre for Research and Innovation in the Bio-Economy, Confederation College, and Dawson Trail Craft Brewery.
Today’s announcement is further proof of the Government of Canada’s commitment to Canadian businesses and organizations – assisting them to overcome the challenges COVID-19. Initiatives like these will help get Canadians back to work and ensure that small businesses can play a major role in Canada’s economic recovery.
Quotes
“The Government of Canada’s comprehensive approach to combat the impacts of the COVID-19 pandemic includes both short-term measures to safeguard Canadians now and strategic investments that will ensure a robust and lasting recovery. Today’s announcement will allow businesses to leverage technology and innovation to enhance productivity, commercialize new products, expand their operations and create good quality jobs throughout Northern Ontario.”
- The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedNor
“These investments in our local businesses in will support a green, innovative and inclusive recovery for our community, and the families that live and work here. The pandemic has been hard on our region, but by helping local business to modernize their operations with new equipment and technologies, we are helping position the entire region for sustainable growth and long-term success post-pandemic.”
- The Honourable Patty Hajdu, Minister of Health, and Member of Parliament, Thunder Bay—Superior North
“Our government recognizes that technology and innovation will shape the economy of the future and we’re proud to support businesses and organizations to enable them to modernize their operations, scale-up and compete globally. Today’s announcement will help fuel recovery efforts, create jobs and support immediate and long-term growth across Northwestern Ontario.”
- Marcus Powlowski, Member of Parliament, Thunder Bay—Rainy River
“On behalf of our Board of Directors, I’d like to thank FedNor and the Government of Canada for their ongoing support. As a result of their past investment in NOA, over $200 million in private investment has helped to fund 400 deals. This new strategic investment will allow us to extend our reach so we can connect even more entrepreneurs and investors, expanding our services across Northern Ontario. Through our partnership, we’re helping to create 800 new jobs, strengthen the economy and ensure a prosperous future for all of Northern Ontario.”
- Donna Smith, Chair, Northern Ontario Angels
“A longstanding partner, the Government of Canada continues to recognize the value of the Northwestern Ontario Innovation Centre and the work we do to spur innovation, support skills training and help businesses develop and adopt new technologies and processes. Thanks to these investments, we will be able to support business through the Business Technology Improvement Fund, continue to offer the Next Level Program to assist innovation entrepreneurs, and strengthen the region’s innovation ecosystem to help innovative companies grow, succeed and create jobs.”
- Kendall Williams, Executive Director- Northwestern Ontario Innovation Centre
Quick facts
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The funding announced today is provided through FedNor’s Regional Growth Through Innovation Fund (REGI), which supports the growth of Northern Ontario businesses, their expansion into new markets and their adoption of new technologies and processes.
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Since 2018, FedNor has provided more than $69 million in REGI funding to support 92 projects. Once complete, these projects are expected to help create and maintain more than 4,200 jobs in communities and First Nations across Northern Ontario.
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Contacts
Catherine Mounier-Desrochers
Press Secretary
Office of the Minister of Economic Development and Official Languages
catherine.mounier-desrochers@canada.ca
Barclay Babcock
Communications Officer
FedNor
705-690-0957
barclay.babcock@canada.ca
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