Clement announces $10.6 Million in FedNor investments

Minister for FedNor Tony Clement announces $10.6 million in investments for Northern Ontario Friday at Discovery North Bay.

FedNor News Release

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The Honourable Tony Clement, Minister of Health and Minister for FedNor, announced today an $10.6M investment in support of 78 economic development projects benefiting hundreds of communities located throughout the North. The announcement underlines Canada’s New Government’s commitment to Northern Ontario. Minister Clement announced the funding, provided by FedNor’s two main programs – Northern Ontario Development and Community Futures – during a visit to North Bay this afternoon.

“Today’s announcement supports Canada’s New Government’s efforts to promote the economic well-being of the businesses and residents of North Bay and all of Northern Ontario,” stated Minister Clement. “Investing in projects promoting tourism, technology, trade, youth and small business initiatives will help create jobs and diversify the economy of the region.”

Of the total, close to $2.6M is earmarked for nine projects in North Bay and other communities in the Nipissing-Timiskaming riding, including a substantial contribution to the city’s waterfront development project, funding to a Community Futures Development Corporation, and support to expand services at Jack Garland Airport (see attached information sheet).

Also included as part of overall funding announcement, $450,000 will support the Ontario WoodWORKS! program, a pan-northern project spearheaded by the Canadian Wood Council.

As outlined in Budget 2007, Canada’s New Government is creating competitive advantages for
a stronger economy by reducing Canada’s debt, lowering the taxes on hard-working families, helping Canadian businesses compete globally, and making unprecedented investments in the infrastructure that connects the nation.

Today’s announcement supports FedNor’s strategic approach of helping Northern communities transition to a knowledge-based economy. More specifically, FedNor is meeting key Northern priorities, including: helping young graduates find full-time employment through FedNor’s Youth Internship Program; ensuring that Northern communities have access to broadband so that residents can take advantage of the latest e-learning and tele-health initiatives; providing access to capital and advice for small business owners and entrepreneurs; and developing an innovation capacity for medical and resource-based research.

By supporting the residents of North Bay and Northern Ontario through its programs and services, FedNor is opening doors and building futures for a prosperous Northern Ontario.

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