TORONTO—A number of new business projects in Algoma-Manitoulin have received investments from the province through the Northern Ontario Heritage Fund Corporation (NOHFC).
According to a press release from the Ministry of Northern Development and Mines, the new projects “will help establish new sources of revenue for the communities and create jobs in industry, tourism, energy and manufacturing.”
“By investing in local economic development priorities, our government is helping to diversify the Northern economy,” said Michael Gravelle, Minister of Northern Development and Mines and chair of the NOHFC. “Through these investments, Algoma-Manitoulin area communities will be better positioned to make new business opportunities and job creation projects a reality.”
“This provincial investment is key to bringing the waterfront project to life,” said Billings Township Mayor Austin Hunt. “The rejuvenation of this area will not only attract tourists, but create exciting new experiences for Northern residents. We thank the NOHFC for investing in a project that will help drive tourism in our community.”
The announced funding, some $230,000, is being invested in eight projects in the area. The Manitoulin Wind and Solar Institute in M’Chigeeng First Nation is receiving $45,000 to study the feasibility of launching a business that would assemble solar-powered generators; Billings Township is receiving $42,500 to complete a design and cost analysis on enhancing its waterfront infrastructure to attract more tourists; Wawa received $34,344 to develop a mining sector growth strategy to attract new businesses to the region; the Municipality of Gordon-Barrie Island received $32,665 for a feasibility study on developing a new business park in the community; the Township of Dubreuilville received $31,596 to explore mining-related business opportunities in the area; the Blind River Development Corporation is receiving $18,516 to study the feasibility of establishing an RV park adjacent to a natural beach on Lake Huron; the Blind River Development Corporation received $14,333 to evaluate the ability of the town to host a chemical blending and distribution facility; and the Municipality of Killarney received $11,517 to complete a community economic development plan.
Investing in business development is part of the government’s plan to build Ontario up. The four-part plan includes investing in people’s talents and skills, making the largest investment in public infrastructure in Ontario’s history, creating a dynamic, innovative environment where business thrives and building a secure retirement savings plan.