More than 40 Northern Ontario entrepreneurs are expected to grow their businesses and create or maintain 90 middle-class jobs in the region with a federal funding program.
MP Anthony Rota has announced a FedNor (Federal Economic Development Initiative for Northern Ontario) investment of $510,000 for Northern Ontario businesses and says the funding will be used to adopt new technologies, commercialize new products, grow their operations, capitalize on emerging opportunities and create jobs.
IION (Innovation Initiatives Ontario North) will use its Triple-P (productivity, process and prototype) initiative to provide up to $10,000 to each qualified business.
Rota says, “I’m proud that today’s announcement will help accelerate business development and growth while creating jobs and new opportunities in Northern Ontario. By supporting IION’s Triple-P initiative, the Government of Canada, through FedNor, is helping local businesses to scale up production, increase sales and create good paying jobs right here in the region.”