Government of Canada announces nearly $2 million to help businesses start up, scale up and create jobs across Northern Ontario
October 15, 2020 – Bruce Mines, ON – Federal Economic Development Initiative for Northern Ontario – FedNor
Canadian farmers and agri-food producers are working hard to overcome the impacts of COVID-19 and the Government of Canada continues to have their backs during these challenging times. Through strategic investments in businesses and organizations, we are providing them with the tools and resources they need to be part of our economic recovery and emerge from it stronger and more competitive than before.
Terry Sheehan, Parliamentary Secretary to the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedNor, today announced nearly $2 million in FedNor investments to help Northern Ontario’s agri-food sector innovate, grow and create jobs.
As part of this investment, Penokean Hills Farms will benefit from a repayable contribution of more than $1.4 million to build and equip a state-of-the-art abattoir, meat processing plant and retail butcher shop in Bruce Mines. This new 13,000-square-foot facility will include a commercial smoker, curing section and high-volume hanging and freezing facilities. Once complete, this priority project will allow the organization to increase sales and profitability by up to 65 percent, while helping to create and maintain 15 local jobs.
The remaining $588,744 will allow Bioenterprise Corporation to create a Northern Ontario tech-hub to support the growth of agri-food businesses. Specifically, this targeted investment will ensure Northern Ontario entrepreneurs have access to sector expertise, best practices and business accelerator services that focus on technology, innovation, exports and access to capital. Once fully implemented, this strategic initiative is expected to help create or maintain more than 50 full-time jobs and provide more than 40 businesses with access to the tools and resources to start up, scale up and commercialize new products.
Today’s announcement is further proof of the Government of Canada’s commitment to Canadian farmers and agri-food businesses – helping them to not just survive, but thrive. Initiatives like these will help get Canadians back to work and ensure that our agricultural sector can play a major role in Canada’s economic recovery.