Canada’s federal COVID-19 Economic Response plan provides $7.4 million to support nearly fifty small and medium-sized businesses through the Regional Relief and Recovery Fund
November 12, 2020 – Thunder Bay, ON – Federal Economic Development Initiative for Northern Ontario – FedNor
Canada’s COVID-19 Economic Response Plan, designed to stabilize the Canadian economy during the global pandemic, has helped protect millions of jobs, provide emergency support to families, and keep businesses afloat. One of its key programs, the f (RRRF) delivered through the Regional Development Agencies such as FedNor, has assisted nearly 14,000 clients across Canada including more than 4800 women-owned or operated businesses and 2500 tourism businesses. In Northern Ontario alone, it has supported more than 777 businesses and organizations – including 267 tourism, 110 women-owned or operated and 60 Indigenous businesses – helping them mitigate the financial pressures caused by the pandemic while maintaining more than 3,300 jobs in the region.
Funding to bolster workers and businesses in the Kenora, Rainy River and Superior North regions
The Government of Canada is continuing to do all that it can to provide support to those who need it the most. That is why the Honourable Patty Hajdu, Minister of Health and Member of Parliament for Thunder Bay—Superior North, and Marcus Powlowski, Member of Parliament for Thunder Bay—Rainy River, today announced that nearly $7.4 million has been provided to support businesses and organizations in Northwestern Ontario facing financial hardship due to the COVID-19 pandemic. The announcement was made on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister for FedNor.
Today’s funding, provided through the RRRF, is enabling 48 small and medium-sized businesses, and organizations such as the Thunder Bay Chamber of Commerce, Superior Country and Ontario’s Sunset Country Travel Association, to bridge the financial gap caused by the pandemic. The RRRF, which is still accepting applications, provides financial contributions to help support businesses and organizations with their operating costs, where revenues have been negatively impacted by the COVID-19 pandemic.
As part of today’s RRRF announcement, FedNor is also providing financial support to the Northwestern Ontario Innovation Centre to create a safe working environment for staff and clients by meeting COVID health and safety protocols. This included purchasing furnishings and personal protective equipment to ensure that the Centre can continue to operate and provide its services to local businesses.