Government of Canada investing nearly $5 million to enhance economic development across Northern Ontario

Entrepreneurs are facing unprecedented change in the business landscape, from tumultuous international trade markets to rapidly changing technologies and innovations. Canada’s economy has long been a leader in fostering the success of small and medium-sized enterprises and translating that success into national strength and achievement.

To that end, the Government of Canada is supporting strategic action that ensures businesses can continue to establish and grow, build an economy that ensures Canadians continue to thrive.

That is why the Honourable Patty Hajdu, Minister of Jobs and Families and Minister responsible for FedNor, today announced a total FedNor investment of $4,985,998 in five economic development projects that directly support small and medium-sized enterprises in Thunder Bay and across Northern Ontario.

As a result of these investments, Northern Ontario businesses will benefit from financial assistance opportunities, business counselling, access to information and resources, the development of industry networks, and improved and expanded labour force matching and retention. Additionally, FedNor funds will support the Government of Canada’s commitment to advancing economic reconciliation through the awarding of federal contracts to Indigenous-owned businesses.

These initiatives are expected to help strengthen and expand the local economies by empowering businesses to continue innovating and growing.