The Province is investing $288,444 for Possamai Construction through the Northern Ontario Heritage Fund Corporation (NOHFC) to purchase equipment and fund an expansion of their operations, announced David Orazietti, MPP.
“Our government is committed to strengthening businesses in Sault Ste. Marie and since 2003 we have invested $100 million for over 825 projects,” said Orazietti. “This funding will allow Possamai Construction to not only purchase much-needed modern equipment, but allows the company to expand its operations, create new jobs and better position the company for long-term growth.”
As part of this $686,888 project, Possamai will expand its aggregate plant and purchase breaking equipment, a cone crusher and other related pieces of equipment to create opportunities for increased business and larger contracts.
“This contribution from the Ontario Government will go a long way in helping us expand our operations, including purchasing a cone crusher and other related equipment,” said Patrick Possamai, President, Possamai Construction. “Our expansion, and this funding, will also help create three new well-paying jobs for the community.”
In addition to these new jobs, the funding will also create countless other spinoff economic benefits in the Sault area. Possamai Construction is a well-established business with diversified construction related activities including general sub-contracting, heavy equipment rentals, site excavation, custom screening and crushing, in addition to gravel and topsoil deliveries.
Investing in Northern businesses is part of the government’s plan to build Ontario up. The plan includes investing in people’s talents and skills, making the largest investment in public infrastructure in Ontario’s history, creating a dynamic, innovative environment where business thrives and building a secure retirement savings plan.
Since 2003, the NOHFC has invested almost $1 billion in more than 6,870 projects in Northern Ontario, creating or sustaining nearly 25,800 jobs.
In Sault Ste. Marie, the NOHFC has invested $100 million in 825 projects, creating or sustaining more than 2,981 jobs, since 2003.
The NOHFC’s investments in economic development are an important part of the Ontario government’s Growth Plan for Northern Ontario. A strong northern economy will give the people of Ontario more opportunities for jobs and economic prosperity.
Some of the NOHFC investments in local business in Sault Ste. Marie since 2003 include:
$3.4 million for the Sault Ste. Marie Airport Development Corporation
$2.5 million Heliene Solar Manufacturing Plant
$2.1 million Sault Harbour Expansion
$2.1 million Flakeboard Ltd. Expansion
$1 million for Envirotek Sealing and Fibreglassing to expand production
$1 million Triple M Metal
$1 million SIS Manufacturing to upgrade equipment and infrastructure
$785,500 Palmer Construction Group Inc.
$738,200 for Rector Machine Works infrastructure and equipment upgrades
$475,000 Soo Foundry & Machine equipment upgrade
$202,750 China Steel equipment upgrades
To learn more, see NOHFC and its programs