“Northern Ontario is Open for Business:” Premier Ford Visits Algoma

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On Tuesday morning, Premier Doug Ford visited Algoma to announce the government’s support in the form of regulatory relief from certain pension obligations under the Pension Benefits Act as well as Pension Benefits Guarantee Fund (PBGF) coverage if certain conditions are satisfied.

The announcement was made by Ford with MPP Ross Romano by his side, as well as in the presence of Algoma Steel’s executive.

Doug Ford Ross Romano
Premier Doug Ford and Member of Provincial Parliament Ross Romano.

The goal is to help protect thousands of steel industry jobs in Sault Ste. Marie and the surrounding communities. Ford’s government stated in a release, “this investment will support the healthy restructuring of Algoma Steel and provide a sustainable future, while supporting thousands of hard-working employees and pensioners in the North.”

 

Doug Ford
Premier Doug Ford speaks about job protection for Algoma Steel workers.

“Our government is committed to protecting jobs, and ensuring Algoma remains competitive in a tough market. They are the second largest private-sector employer in Northern Ontario, and the largest in Sault Ste. Marie,” said Ford. “Our government is supporting a successful restructuring at Algoma by taking steps to make sure the company is commercially viable, and a stable source of jobs and economic growth for years to come.”

Algoma’s pension plans support approximately 2,100 current and 6,300 former or retired employees. As the largest private-sector employer in Sault Ste. Marie and the second largest in Northern Ontario, Algoma has approximately 2,700 direct employees.

Algoma Steel Executive
Algoma executive during Ford’s visit.

Although Ford guaranteed media that this would be “really positive” he could not yet specify a number of details. At this time, it is unconfirmed what the exact dollar value of the investment is. “Once we sign on the dotted line we can announce that,” Ford explained. Additionally, the exact conditions upon which regulatory relief from certain pension obligations under the Pensions Benefit Act and PBGF can be accessed are also unsettled at this point. However, Ford assured that they would be minor. In terms of a timeline, Ford’s government did not have an exact date but insisted that talks would continue over the next few weeks and “we are almost there.”

ONNtv and SaultOnline will follow up on updates on this investment as Ford’s government makes this information available.

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Riley Smith
Riley Smith is an enthusiastic and versatile critical thinker who has been with SaultOnline since January 2018. She holds a double Honours Degree in History and Political Science from Algoma University, and a Postgraduate Certificate in Public Relations and Event Management from Sault College. She is Google Marketing Fundamentals certified, and is also working towards a Certificate in Diversity and Intercultural Relations. When she's not reporting, you can find her MC'ing the Soo Greyhound home hockey games, spending time with her basset hound, Douggie, or seeing the world one breathtaking view at a time.

18 COMMENTS

    • An obvious left wing socialist communist comment. Can’t see anything in front of your nose. Perhaps the bigoted spineless follower here is you Byron, Got a thing for Andrea do ya Boobie? Tell us what is your alternative?

  1. I prefer to remain optimistic and positive. Lets give Mr. Ford a chance. People complain that queens park forgets about us and when they do attempt to right a wrong the naysayers come out.

  2. Vague talk is cheap especially coming from Ford who doesn’t give a crap about anything north of Barrie. Just how much of a bullshit artist he really is remains to be seen.

    • We can only imagine how much better it would be with the mini van liberals or the ndp, rampant with their socialism and communism. Give Ford a chance and quit your whining.

        • Tell us then Ted, what is your solution. More Wynne and her mini vanners or better yet the commie ndp and their idiot Anrdea. Hell, they don’t even respect Remembrance Day. I guess you don’t either. You can surely think of something intelligent to say. Maybe not.

    • What is your solution Ted? Who in your mind would be your choice. You should have the mental capacity to give us your thoughts. Then again, I may be wrong in that assumption.

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