November 12, 2020 - Sault Ste. Marie, ON - Federal Economic Development Initiative for Northern Ontario - FedNor
Canada's COVID-19 Economic Response Plan, designed to stabilize the Canadian economy during the global pandemic, has helped protect millions of jobs, provide emergency support to families, and keep businesses afloat. One of its key programs, the Regional Relief and Recovery Fund (RRRF) delivered through the Regional Development Agencies such as FedNor, has assisted nearly 14,000 clients across Canada including more than 4800 women-owned or operated businesses and 2500 tourism businesses. In Northern Ontario alone, it has supported more than 777 businesses and organizations - including 267 tourism, 110 women-owned or operated and 60 Indigenous businesses - helping them mitigate the financial pressures caused by the pandemic while maintaining more than 3,300 jobs in the region.
Funding to bolster workers and businesses in Northcentral Ontario and the Timmins-James Bay region
The Government of Canada is continuing to do all that it can to provide support to those who need it the most. That is why 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, today announced that nearly $3.9 million has been provided to support businesses and organizations in Northcentral Ontario and Timmins-James Bay facing financial hardship due to the COVID-19 pandemic. The announcement was made on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister for FedNor.
Today's funding, provided through the RRRF, is enabling 27 small and medium-sized businesses and organizations such as Tourism Sault Ste. Marie, Timmins Chamber of Commerce and Destination Manitoulin Island, to bridge the financial gap caused by the pandemic. The announcement covers various communities in Northcentral Ontario, including Sault Ste. Marie, Algoma, Manitoulin, Hearst and Kapuskasing, as well as Timmins, Kirkland Lake and the James Bay region.
The RRRF, which is still accepting applications, provides financial contributions to help support businesses and organizations with their operating costs, where revenues have been negatively impacted by the COVID-19 pandemic.
Quotes
"Our government is committed to doing whatever it takes to protect families, business and jobs in Sault Ste. Marie and across Northern Ontario. We are doing everything in our power to keep Canadians healthy, safe and solvent. These strategic investments will help put COVID-19 behind us as quickly as possible by supporting an innovative and fair economy that supports jobs and growth 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
"Businesses all across Canada have been hard hit hard by COVID-19. That's why, through Regional Development Agencies like FedNor in Northern Ontario, the federal government is providing businesses vital support, and saving thousands of jobs. I want to assure Northern Ontario businesses that while our government manages this health crisis, we will be there to support you for as long as it takes, with whatever it takes, and we will get through this together."
- The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedNor
"Tourism is a cornerstone of our economy and this funding will help us position this important sector for a quick recovery when our borders reopen and the industry bounces back. This funding will help ensure we can continue to promote our community, maintain local jobs, generate new revenues and bridge a financial gap caused by the pandemic."
- Joseph Bisceglia, Chair, Tourism Sault Ste. Marie
"I'm pleased that FedNor is stepping up with relief funding to help alleviate the financial pressures businesses and organizations are facing as a result of the COVID 19 pandemic. Today's announcement will allow us to maintain jobs and operations to ensure the Timmins Chamber of Commerce is open for business and ready to meet the needs of the business community."
- Melanie Verreault, President, Timmins Chamber of Commerce
Quick facts
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In Northern Ontario, FedNor has an allocation of $71.8 million through RRRF.
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Delivered by the six Regional Development Agencies (RDAs), the Fund addresses gaps left by other federal relief measures, and complements those already provided by other levels of government.
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Recognizing the significant impact that COVID-19 has had on tourism in Northern Ontario, FedNor has invested nearly $13.8 million in RRRF funding throughout the region to support the recovery and growth of this important industry.
