Canada invests to accelerate business growth and help create or maintain up to 90 jobs in Timmins-James Bay region

From: FedNor

July 22, 2021 – Kirkland Lake, ON – Federal Economic Development Initiative for Northern Ontario – FedNor

Across the country, Community Futures Development Corporations (CFDCs) are helping entrepreneurs start or expand their businesses, and investing in communities to strengthen the economy. In Northern Ontario, these community-based, not-for-profit organizations are working hard to create jobs and provide a full range of business development services, including access to capital, mentoring, information and referrals, as well as support for community economic development, recovery efforts and local priority projects.

Terry Sheehan, Parliamentary Secretary to the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedNor, today announced a FedNor investment of more than

$4.6 million in support of five strategic initiatives in the Timmins-James Bay region. The funded projects are expected to support more than 110 businesses, and help create or maintain up to 90 jobs while maximizing development and growth opportunities throughout the region.

Specifically, the FedNor funding will support five projects led by the Kirkland & District Community Development Corporation, The Venture Centre and the Wakenagun Community Futures Development Corporation, three of the region’s Community Futures organizations.

Today’s announcement is further proof of the Government of Canada’s commitment to Canadian entrepreneurs and businesses – helping them to overcome the challenges posed by COVID-19. Initiatives like these will assist Canadians to get back to work and ensure that small businesses, which are the backbone of the Canadian economy, can play a major role in Canada’s economic recovery.

Quotes

“The prosperity and growth of local businesses are key to building strong local economies. In these uncertain times, we want Canadian businesses to know that we have their back. As per our plan for a strong economic recovery, we will help our business and community partners adapt to the quickly evolving social and economic realities. We will continue to support their efforts to strengthen and grow the economy and create good jobs across Northern Ontario.”

– The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedNor

“Today’s investment of $4.6 million will help create or maintain up to 90 jobs and support more than 110 businesses in the Timmins-James Bay region. The Government of Canada is proud of its long-standing partnerships with Community Futures Development Corporations that help businesses start up, scale up and improve productivity and innovation. By supporting businesses and communities to overcome the challenges posed by the pandemic, our government is setting the stage for a strong and effective economic recovery.”

– Terry Sheehan, Parliamentary Secretary to the Minister of Economic Development and Official Languages and Minister responsible for FedNor

“This strong show of support underscores the Government of Canada’s confidence in the Community Futures Program and the important work we do in helping businesses access the resources they need to maximize growth opportunities, support recovery efforts and strengthen the regional economy. Today’s strategic investment through FedNor is a testament to our success in job creation, generating business opportunities and maximizing the economic potential across the region. “

– Lois Kozak, Chair, Kirkland & District Community Development Corporation

“I am grateful for the financial aid and business counselling that I have received from Kirkland & District Community Development Corporation that has enabled me to purchase and diversify my business. Were it not for their assistance, I would have had to put my plans of expansion on hold.

– Tanner Rosko, Owner Operator of the Great Outdoor Centre

Quick facts

  • The funding announced today is provided through FedNor’s Community Futures Program (CFP) and Northern Ontario Development Program (NODP), which supports projects that promote sustainable community economic development, diversification and business growth.

  • FedNor supports 24 Community Futures Development Corporations (CFDCs) located throughout Northern Ontario. These community-based, not-for-profit organizations are staffed by professionals and are each governed by local volunteer boards of directors familiar with their communities’ needs, concerns and future development priorities.

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