October 15, 2020 - Sault Ste. Marie, ON - Federal Economic Development Initiative for Northern Ontario - FedNor
Canadian businesses and entrepreneurs are working hard to stay afloat in the wake of the ongoing pandemic and the Government of Canada continues to support their efforts during these difficult times. Through strategic investments in businesses and organizations, we are providing them with the tools and resources they need to not only recover, but thrive.
Terry Sheehan, Parliamentary Secretary to the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedNor, today announced Government of Canada investments of more than $2.6 million to help small and medium-sized businesses in the Sault Ste. Marie and Algoma region to modernize, adopt new technologies, increase their competitiveness and create jobs.
Provided through FedNor, the funding will support five strategic initiatives that will help businesses innovate, commercialize new products and expand their operations. They will also provide emergency COVID-19 response funding to help businesses to survive and maintain jobs.
Today's announcement is further proof of the Government of Canada's commitment to Canadian businesses - helping them to overcome the challenges posed by COVID-19. Initiatives like these will help get Canadians 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
"Canada's economic recovery depends on the health of small and medium-sized businesses in Sault Ste. Marie and across the country which is why we continue to have their backs. The investments announced today will help them enhance productivity, commercialize products in development and expand their operations."
- The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedNor
"These initiatives will assist small and medium-sized businesses in the Sault and Algoma region on the road to prosperity and growth. Today's investments will enable community partners, such as the Sault Ste. Marie Innovation Centre and Sault College, to work with the private sector to support the commercialization and adoption of technologies and accelerate business growth to create jobs across the region."
- Terry Sheehan, Member of Parliament for Sault Ste. Marie and Parliamentary Secretary to the Minister of Economic Development and Official Languages and Minister responsible for FedNor
"We are excited that FedNor is supporting us in our efforts to partner with and provide assistance to local and regional companies in Northern Ontario. We share a common goal with the Government of Canada and that is to help businesses succeed and grow by empowering ideas through technology enhancement and innovative solutions."
- Peter Bruijns, Executive Director, Sault Ste. Marie Innovation Centre
Quick facts
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The funding announced today is provided through FedNor's Regional Growth Through Innovation Fund, which supports the growth of Northern Ontario businesses, their expansion into new markets and their adoption of new technologies and processes.
