News Release
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October 22, 2014 — North Bay, Ontario — Industry Canada/FedNor
Nipissing–Timiskaming MP Jay Aspin, on behalf of the Honourable Greg Rickford, Canada’s Minister of
Natural Resources and Minister for the Federal Economic Development Initiative for Northern Ontario
(FedNor), announced today an investment to help local businesses innovate, grow and create jobs in
the Nipissing–Timiskaming region. The announcement coincides with Small Business Week, an
initiative of the Business Development Bank of Canada that celebrates the contributions small and
medium-sized businesses make to the Canadian economy.
A FedNor investment of $45,000 will enable three Northern Ontario manufacturers to complete
operational assessments to improve manufacturing processes and increase production. Each business
will receive $15,000 to help maximize efficiencies, grow their operations, increase sales and become
more competitive in the global marketplace. Manufacturers that will benefit from this announcement
include Metso Minerals Canada, North Bay Machining Centre Inc. and Wabi Iron and Steel Corp.
Quick Facts
The funding announced today is provided through FedNor’s Targeted Manufacturing Initiative
for Northern Ontario (TMINO), a program designed to help companies improve productivity and
modernize their operations, leading to sales growth, increased exports and job creation.
Since 2006, through FedNor’s Northern Ontario Development Program, the Government
has invested $354 million in support of more than 1,600 projects. These investments have
created more than 21,500 jobs throughout Northern Ontario.
Small Business Week runs from October 19 to 25, 2014. Statistics Canada reports that there
are over 1.1 million small businesses in Canada which employ more than 7.7 million individuals
or 69.7 percent of the total private sector labour force. The small business sector accounts for
27 percent of Canada’s total gross domestic product (GDP) and is a leader in innovation,
research and development.
Quotes
“Our Government is pleased to invest in Northern Ontario’s manufacturing sector to strengthen
the economic foundation of our region. This strategic investment demonstrates our resolve to
create the right conditions for businesses to grow, succeed and create jobs right here in
Nipissing–Timiskaming.”
Jay Aspin
Member of Parliament for Nipissing–Timiskaming
