$7.1M FedNor funding for PS-Muskoka businesses

 

Minister Navdeep Bains announced $7.1 million in annual funding at the Muskoka Airport for local Community Futures and businesses.

GRAVENHURST — Local manufacturing and tourism businesses are being backed by FedNor again.

In an annual announcement at the Muskoka Airport Tuesday, Navdeep Bains, Minister of Innovation, Science and Economic Development, and Minister responsible for FedNor announced $7 million in local funding for the Parry Sound-Muskoka riding.

People, businesses and communities in Parry Sound–Muskoka will benefit from the growth of small and medium-sized enterprises and the creation of more well-paying, middle-class jobs thanks to a strategic investment by the Government of Canada of more than $7.1 million, said a FedNor release.

The minister was on a two-day tour of Northern Ontario to promote the release of the federal Prosperity and Growth Strategy for Northern Ontario, an economic development plan that will help guide Government of Canada investments and services in the region.

The FedNor funding will support 12 priority projects being led by local organizations including: Muskoka Futures, Lofthouse Manufacturing, Muskoka Rock Company, Crofters Food Ltd., Muskoka North Good Food Co-op, LB Huntsville Brewhouse, Parry Sound Area Community Business & Development Centre, Muskoka Steamship and Historical Society, Trestle Brewery, Regional Tourism Organization 12 Parry Sound / Muskoka, The Network Gravenhurst and the Township of Armour.

Said Bains in making the announcement: “The Government of Canada recognizes the unique needs of Northern Ontario and is investing to support initiatives that are helping to fuel the region’s economy and create more middle class jobs for hard working Canadians. The strategic investment announced today will encourage innovation and pave the way for entrepreneurs, businesses and communities to succeed, while creating the jobs we can build families on.”

“This investment highlights the important role the Government of Canada plays in advancing innovation and helping businesses develop, expand, and leverage new technologies to enhance their service offerings and create jobs,” added Paul Dunnett, Chair, Muskoka Futures.

“By supporting key sectors of our region’s economy such as tourism, manufacturing, and agriculture, the federal government is helping to ensure people, businesses and communities have access to the resources they need to succeed.”

Minister Navdeep Bains, left, and some recipients pose for a photo after the announcement.

Quick facts

The Prosperity and Growth Strategy for Northern Ontario outlines the Government of Canada’s approach to ensure the region can fully benefit from the national Innovation and Skills Plan. It is focused on three key economic development areas: Growing companies; Supporting innovation; and Building stronger communities.

Budget 2018 provided an additional $511 million over five years to the regional development agencies to support the national Innovation and Skills Plan. As part of this total, FedNor is being allocated $28 million over five years. This is in addition to the $25 million over five years it received in Budget 2017.

The funding announced today is provided through FedNor’s Northern Ontario Development and Community Futures Programs, which support projects that promote sustainable community economic development, enhance business development and growth, and facilitate innovation throughout the region.

Related:

Backgrounder: FedNor investment to create jobs, growth and a strong economy in the Parry Sound–Muskoka region

Prosperity and Growth Strategy for Northern Ontario

 

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