FedNor funding is supporting more than 100 businesses across the north, including North Bay, with expansion and modernization.
Over $1.8 million is going to Northern Ontario Angels, a not-for-profit group that links private investors with northern businesses.
The goal is to stimulate investment opportunities in the region.
FedNor says the three-year project is anticipated to result in 750 new jobs and over $13 million invested in northern companies by 2027.
“Our goal is to help companies in Northern Ontario grow and succeed through the attraction of angel investments, and FedNor’s support is critical in helping us accomplish that goal,” says Ian Lane, Executive Director of Northern Ontario Angels. “We are proud to partner with FedNor in making connections and generating opportunities, and building a stronger Northern Ontario economy.”
Plans include a marketing and branding strategy for the Northern Ontario Angels, development of an Indigenous business strategy, increased support for life sciences and mining innovation companies, and more.