The Federal Economic Development Agency for northern Ontario, known as FedNor, is directing more than $20 million toward 22 projects across the region in a push to support business expansion and community growth.
The funding, announced Tuesday, is expected to help create and maintain more than 1,200 jobs through various business and economic development initiatives. Patty Hajdu, Minister of Jobs and Families and the minister responsible for FedNor, made the announcement.
“By providing critical support to Canadians across the country, we are helping business and community partners adapt to rapidly evolving social and economic realities,” Hajdu said. She added that the investment is meant to improve conditions for “entrepreneurs, business, families and individuals living and working” in northern Ontario.
How the Funding Is Structured
The money is being distributed through three separate FedNor programs. The largest share, close to $16 million, will flow through the community futures program, which supports business operations throughout the north.
Local Reaction
Carole Long of Thunder Bay Ventures welcomed the funding, saying it reflects recognition of the organization’s track record in supporting community and business growth in the region.
“I am thrilled that FedNor recognizes our record of success in fostering community, business and economic growth, while helping businesses start up and scale up here at home in Thunder Bay and across northern Ontario,” Long said.
The funding spans projects throughout northern Ontario, with FedNor framing the investment as part of broader efforts to support economic activity and entrepreneurship in the region.
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