TORONTO - Greg Rickford, Minister of Energy, Northern Development and Mines, announced Ontario is investing more than $10.5 million in 28 companies that supply products and services to the mining industry. This funding will help create or retain over 180 jobs.
Investments made through the Northern Ontario Heritage Fund Corporation (NOHFC) include:
- $1 million for Coloured Aggregates Inc. in Warren to increase production by purchasing new and upgrading existing equipment
- $673,000 for Red Pocket Fertilizer to build a fertilizer granulation facility at the former Hedman Plant in Matheson
- $309,517 for ITEC 2000 Equipment Inc. in Rosslyn to expand operations by purchasing new equipment and building a warehouse
- $250,000 for SHYFTinc in Sudbury to create a computer simulation tool that helps mining clients understand their supply chain and identify areas for improvement
- $200,000 for Drennan Consulting and Diamond Drilling to establish a diamond drilling business in Manitouwadge
- $184,000 for Thunder Bay Off-Site Innovations Corp. to open a modular building and buildings component manufacturing facility in Thunder Bay
- $37,450 for Ionic Engineering in Lively to develop an electronic safety device that controls and isolates sources of energy from hazardous equipment.
"Promoting business expansion and the development of new technologies ensures a competitive and innovative mining sector in Ontario," said Minister Rickford. "Together with our partners, we are bringing good jobs and investment to the province and sending a signal to the world that Ontario is open for business, including the North."
The NOHFC promotes and supports economic development across Northern Ontario by providing financial assistance to projects - big and small, rural and urban - that stimulate growth, job creation and develop a skilled workforce.
Ontario is working to develop new NOHFC programs that:
- Make it easier for more people and businesses to apply
- Support more projects in rural northern communities
- Target both existing and emerging market opportunities
- Provide more work opportunities for Indigenous people
- Address the skilled labour shortage in the north.
"We have heard from northerners who want NOHFC programs to be open to a broader range of businesses and workers so that the unique needs of Northern Ontario communities are met," said Minister Rickford. "Through these proposed changes, Ontario's government will continue to build strong and resilient communities while supporting an environment where businesses can thrive, grow and create good jobs."
Promoting and stimulating economic development initiatives in Northern Ontario is part of the government's plan to build Ontario together. Ontario's plan is creating more good-paying jobs and opportunities in the north, and attracting new and expanded investment so northern communities can grow and thrive.
Source : Ontario