Today, Ross Romano, MPP for Sault Ste. Marie, on behalf of Greg Rickford, Minister of Energy, Northern Development and Mines, announced an investment of more than $114,000 through the Northern Ontario Heritage Fund Corporation (NOHFC) for the expansion of Soo Foundry & Machine Ltd., creating two full-time positions.
The funding will allow the company to purchase specialized equipment to more efficiently manufacture parts for the wind and hydro industry, better positioning itself to create a partnership with larger service providers in the industry.
“Today’s investment will allow Soo Foundry to purchase new capital equipment, expand operations and create partnerships with local businesses” said MPP Ross Romano. “Through this funding, we are creating jobs in the skilled trades and boosting the local Sault Ste. Marie economy. Congratulation Soo Foundry!”
“As a medium size manufacturing company located in Sault Ste. Marie, Soo Foundry & Machine has benefitted immensely from the Programs offered by the NOHFC. Financing provided by NOHFC has allowed us to grow, export, diversify, and add new capital equipment that we would not be able to finance through conventional methods.” said Robert Cohen, President Soo Foundry & Machine. “New equipment and technology are very important in training our apprentices and skilled trades persons, who stay and contribute to our community in Northern Ontario.
The NOHFC promotes and supports economic development across Northern Ontario by providing financial assistance to projects – big and small, rural and urban – that stimulate growth, job creation and develop a skilled workforce.
“We have heard from northerners who want NOHFC programs to be open to a broader range of businesses and workers, so the unique needs of Northern Ontario communities are met,” said Minister Rickford. “Through these proposed changes, Ontario’s government will continue to build strong and resilient communities while supporting an environment where businesses can thrive, grow and create good jobs.”
Ontario is working to develop new NOHFC programs that:
- Make it easier for more people and businesses to apply
- Support more projects in rural northern communities
- Target both existing and emerging market opportunities
- Provide more work opportunities for Indigenous people
- Address the skilled labour shortage in the north.
Promoting and stimulating economic development initiatives in Northern Ontario is part of the government’s plan to build Ontario together. Ontario’s plan is creating more good-paying jobs and opportunities in the north, and attracting new and expanded investment so northern communities can grow and thrive.