Sudbury, ON - Federal Economic Development Agency for Northern Ontario - FedNor
Today, Viviane Lapointe, Member of Parliament for Sudbury, and Marc G. Serré, Member of Parliament for Nickel Belt and Parliamentary Secretary to the Minister of Official Languages, announced a FedNor investment of $1,834,000 in Northern Ontario Enterprise Gateway (Northern Ontario Angels), a not-for-profit organization led by a board of volunteers that links private investors with Northern Ontario business to stimulate investment opportunities in the region. The announcement was made on behalf of the Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor.
FedNor funding will support a three-year Northern Ontario Angels project designed to support the expansion and modernization of over 100 businesses in Northern Ontario. The project is anticipated to result in 750 new jobs and over $13 million dollars invested in Northern Ontario companies by 2027.
This will be accomplished through the implementation of a detailed marketing and branding strategy, geared toward increasing awareness and visibility of the Northern Ontario Angels. It will also include the development and implementation of an Indigenous business strategy, with a focus on growing its Far North chapter. Additionally, the project will provide education and training for entrepreneurs and investors, increase support for life sciences and mining innovation companies, and increase international investments in Northern Ontario companies.
Northern Ontario Angels is a pan-northern organization that provides services through its chapter communities: Sudbury, Thunder Bay, North Bay, Sault Ste. Marie, Timmins, Kenora, Parry Sound, and the Far North
