With more than $71 million allocated for Northern Ontario and even more committed as part of the 2020 Fall Economic Statement, Regional Relief and Recovery Fund (RRRF) investments are helping companies across Northern Ontario. Specifically, more than 700 Northern Ontario businesses and organizations benefited from RRRF funding through FedNor and its partner Community Futures Development Corporations.
The Ministry of Economic Development and Official Languages, lead by the Honourable Mélanie Joly, who is also the Minister responsible for FedNor, highlighted the impact of FedNor investments this year. They have supported more than 7,300 jobs in Northern Ontario. Guided by the federal Prosperity and Growth Strategy for Northern Ontario and armed with a solid mandate of growing an innovative economy and creating jobs, FedNor invested more than $122 million over the last year in 294 strategic initiatives led by local businesses, organizations and communities.
Terry Sheehan, Parliamentary Secretary to the Minister of Economic Development and Official Languages and Minister responsible for FedNory responded to the work the Ministry is doing. “This has been a difficult year for Northern Ontarians but by working together, we will get through this and get our economy back on track. Our government has made unprecedented investments in 2020 through FedNor to enable companies and their workers, First Nations and communities, to overcome the adverse effects the COVID-19 pandemic and prepare for a solid and lasting economic recovery.”
In the New Year, FedNor is well-positioned to continue to respond to Northern Ontario’s needs. For information on an array of strategic and well-funded programming, Businesses, communities and organizations are invited to contact FedNor or visit its website to find out more.
FedNor is the Government of Canada’s economic development organization for Northern Ontario. Working closely with businesses and community partners to build a stronger Northern Ontario, FedNor offers programs and services, as well as financial support of projects that lead to job creation and economic growth.
FedNor is playing a vital role to ensure that businesses and communities are equipped to weather the storm, prepare for the reopening economy and plan for future growth. FedNor invests more than $122 million to empower Northern Ontario communities and businesses