The province says it’s refocusing the Northern Ontario Heritage Fund Corporation (NOHFC) to protect the region’s economy now and in the future.
This as the board approved nearly 80 projects at its meeting in Timmins on Tuesday.
Officials say NOHFC will now support projects that strengthen the economy and help sectors and communities respond to economic challenges in the face of U.S. tariffs.
Funding will also focus on supporting economic growth, innovation and creating and maintaining jobs in Northern Ontario for the long-term.
“To build an economy that is stronger, more competitive and self-reliant, our government is refocusing our investment priorities,” says George Pirie, Minister of Northern Economic Development and Growth. “The NOHFC’s new focus will help keep workers on the job and create more opportunities for businesses in Northern Ontario to thrive and grow in the face of U.S. tariffs.”
This new direction is in addition to the government’s recently announced investment of an additional $30 million over the next three years, bringing the NOHFC’s annual budget to a total of $110 million.
At the same time, the fund expanded to add Muskoka to its coverage region
The province says communities of all sizes, both rural and urban, including Indigenous communities will benefit from these initiatives.
