FedNor funding will support skills training, businesses growth, product development, 150 new jobs, and more
Today, Pauline Rochefort, Parliamentary Secretary to the Secretary of State (Rural Development) and Member of Parliament for Nipissing-Timiskaming, announced a Government of Canada investment of $4,574,347 to support six strategic initiatives in Nipissing-Timiskaming. The funded projects will support Canada's defence sector and accelerate AI adoption, innovation, job creation and business growth in North Bay and surrounding areas. The announcement was made on behalf of the Honourable Patty Hajdu, Minister of Jobs and Families and Minister responsible for FedNor.
As part of the announcement, Innovation Initiatives Ontario North (IION) will receive FedNor funding of more than $2.5 million to support the evolution of its Step Forward Entrepreneurs Program, kick-start its Ignite AI program and extend its Skills Development Placement Program. Once complete, these projects are expected to support close to 150 businesses, create 120 jobs and maintain 105 more.
The announcement also includes $2,070,547 for Canadore College to support phase one and two of the development of its Advanced Training Simulation Wing and to establish a new Product Development Fund to help businesses commercialize new products. Once complete, these projects are expected to advance aviation education and research, expand Northern Ontario's defence focused simulation capacity, support business growth, innovation and product development, while creating more than 30 new jobs.
For a complete funding breakdown and project details, please see the associated backgrounder.
