Monumental federal investment of over $1.6 million to support local businesses, local tourism, and economic diversification in the East Algoma – Lake Huron North Shore area

From: Federal Economic Development Agency for Northern Ontario - FedNor

News release

FedNor funds will support three projects fostering new and existing businesses as well as tourism

October 17, 2024 – Elliot Lake, ON – Federal Economic Development Agency for Northern Ontario – FedNor

Terry Sheehan, Member of Parliament for Sault Ste. Marie and Parliamentary Secretary to the Minister of Labour and Seniors, today announced a total FedNor investment of $1,696,000 in three projects in the East Algoma – Lake Huron North Shore area. The announcement was made on behalf of the Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor.

Of the total funds, $1,600,000 will go to the East Algoma Community Futures Development Corporation (EACFDC) in support of operating costs for a five-year period beginning April 1, 2024. The funding will help EACFDC provide business counselling and investment services to small and medium-sized businesses, as well as leadership in community strategic planning and socio-economic development. In the previous five-year operating period, EACFDC assisted over 50 businesses, including new startups. They also helped create or maintain over 100 jobs in their catchment area.

The remaining FedNor funds will go to the City of Elliot Lake for two projects. $72,000 will support the community in developing a detailed tourism strategy. This project will provide the City of Elliot Lake with detailed activities and measurable goals on how to increase tourism. The remaining $24,000 will support the community in completing infrastructure service for a new industrial park development. This will include project design and electrical hook up of a lift station. These two projects will strengthen the local economy by supporting business development, and by bolstering hospitality and retail in the community.

Quotes

“The East Algoma area is not only one of the most breathtaking places in a country of exceptional beauty, it is also a place of great opportunity made up of many diverse communities. These FedNor funds are going to help continue to strengthen and support communities in the area, and ensure that a strong economy continues to grow alongside the scenic views that make East Algoma a special place.”

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

“Today’s monumental federal investment will not only support local businesses in East Algoma, providing them with services needed to meet their growing operations and creating strong and diverse regional economies, but also help the City of Elliot Lake to help develop a detailed tourism strategy. Our government will continue funding strong and diverse regional economies because we understand: Canada is strongest when we are succeeding together.”

-       The Honourable Patty Hajdu, Minister of Indigenous Services and Minister Responsible for FedNor

“We are very proud of the work we do in supporting local businesses, organizations, and their communities. Every person here at the East Algoma Community Futures Development Corporation loves this area, and these FedNor funds will help us to directly build our home communities. We look forward to continuing to collaborate with and help entrepreneurs and their businesses succeed.”

-       Shawn Heard, General Manager, East Algoma Community Futures Development Corporation

“Our community is a special place home to welcoming, hard-working people, and we are excited to share Elliot Lake with the world. We are a small city of big outdoors and bigger hearts, and FedNor’s support is helping us to expand local businesses and capitalize on opportunities to showcase this beautiful area to people far and wide.”

-       Andrew Wannan, Mayor, City of Elliot Lake

Quick facts

  • The East Algoma Community Futures Development Corporation (EACFDC) is a community-based, non-profit organization located in Blind River and governed by a volunteer board of directors from the region.

    • Their catchment area is over 120,000 square kilometres and extends from St. Joseph Island in the west to Spanish in the east.

  • The City of Elliot Lake is located on Highway 108, Between Sudbury and Sault Ste. Marie. Elliot Lake serves as an important service hub for many surrounding small communities.

  • The majority of funds announced today are provided through FedNor’s Community Futures Program (CFP), through which FedNor supports 24 Community Futures Development Corporations (CFDCs) located throughout Northern Ontario.

    • These community-based, not-for-profit organizations are staffed by professionals and are each governed by local volunteer board of directors familiar with their communities' needs, concerns and future development priorities.

  • Additional funds announced today are provided through FedNor’s Northern Ontario Development Program (NODP), through which FedNor invests in projects led by municipalities, First Nations, and other organizations and institutions that support community economic development, diversification, job creation and self-reliant communities in Northern Ontario.

Associated links

Contacts

Jennifer Kozelj
Press Secretary
Office of the Minister of Indigenous Services and Minister responsible for FedNor
jennifer.kozelj@sac-isc.gc.ca

Federal Economic Development Agency for Northern Ontario
Media Relations

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