FedNor funding supports nine initiatives focused on innovation and business growth and will create up to 139 jobs throughout the region
April 1, 2022 - Parry Sound, ON - Federal Economic Development Agency for Northern Ontario - FedNor
Innovation and technology adoption are key to driving our economy forward as we recover from the impact of COVID-19. Through regional development agencies, such as FedNor, the Government of Canada is investing at the local level to promote and adopt technologies, explore innovative commercial opportunities, and support community and business growth while creating jobs for Canadians.
The Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor, today announced Government of Canada investments totalling $7,555,621 for nine initiatives in support of businesses in the Parry Sound and Muskoka region. These investments will also create up to 139 jobs over the next five years. For the full list of projects, please see backgrounder.
Provided through FedNor, the Northern Ontario Development Program (NODP) and Regional Economic Growth through Innovation (REGI) funding will support the adoption of new technologies, expansion of operations, and modernization of production facilities. These projects are designed to retain and attract new businesses, as well as contribute to a stronger and more diversified regional economy.
Northern Ontario has been hard hit by COVID-19 and today's announcement is further proof of the Government of Canada's commitment to families, communities and businesses, helping them to not just survive, but also thrive. It will help get Canadians back to work and ensure that the Parry Sound-Muskoka region is well positioned to fully participate in Canada's economic recovery.
