SSMEDC releases 2018 mid-year results

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Located in the Machine Shop, the SSMEDC’s Millworks Centre for Entrepreneurship is where the organization delivers its small business support programs.

Sault Ste. Marie, ON (September 5, 2018) – The Sault Ste. Marie Economic Development Corporation (SSMEDC) released its 2018 mid-year results report this week. From January 1 to June 30, staff helped 120 businesses in their startup and expansion. This activity is expected to create 336 jobs. Meanwhile, the organization’s Tourism Sault Ste. Marie division generated more than $2.5 million in direct visitor spending.

A breakdown of the mid-year results generated from the SSMEDC’s specific programs and services are as follows:

  • Staff from the corporation’s Millworks – Centre for Entrepreneurship processed 804 inquiries from entrepreneurs and conducted 242 formal client consultations. This activity helped generate 105 small business startups and is expected to create 125 jobs. Another seven companies were supported by the Millworks’ business incubator. Given the success of the facility, which is located at the Machine Shop, the project won a Collaboration & Partnership Award from the Economic Development Council of Ontario in February 2018.
  • Under the SSMEDC’s Business Retention & Expansion program, 15 companies grew their operations. The expansion projects for the businesses total more than $35 million and are expected to create 211 jobs.
  • Staff delivered over 25 pitches to external companies and investors through its Invest Sault Ste. Marie program. These business attraction initiatives remain ongoing, with decisions expected in the coming months. The most significant pitch was made to Noront Resources, a company that’s looking for a location to host its proposed ferrochrome production facility. Sault Ste. Marie was one of two cities shortlisted by the firm.
  • The SSMEDC’s Tourism Sault Ste. Marie division secured or supported 16 conferences, sports tournaments and special events, which generated 13,450 visitor days and more than $2 million in direct visitor spending. As well, a total of 1,214 vacation packages and $455,250 worth of visitor bookings were sold through its online reservation system. Staff also facilitated seven familiarization (FAM) tours with visiting travel writers and television shows, which garnered $347,000 in earned media for community. Meanwhile, due to the organization’s cruise ship attraction efforts, 2018 is slated to be the city’s busiest year ever for luxury passenger vessel traffic.

To learn more about the SSMEDC, including its programs, services and results, visit the organization’s website at www.sault-canada.com.

To read the full report, go to www.sault-canada.com//uploads/doc_636717342725657362.pdf.