FedNor injects $3.5 million to improve ICT networks and help businesses start up, scale up and commercialize new products
November 13, 2020 – Timmins, ON – Federal Economic Development Initiative for Northern Ontario – FedNor
Businesses and communities across the country are working hard to recover from the effects of the COVID-19 pandemic and the Government of Canada continues to support their efforts during these difficult times. Through strategic investments in technology and innovation, the government is providing the tools and resources they need to not only survive, but thrive as our economy rebounds.
Terry Sheehan, Parliamentary Secretary to the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedNor, today announced a FedNor investment of more than
$3.5 million to help businesses in the Timmins-James Bay region start up, scale up and adopt new technologies to increase their competitiveness and create jobs.
This strategic investment will support four regional initiatives that will help businesses innovate, commercialize new products and expand their operations. It will also help Northern College establish an innovation hub at its Timmins campus and enable NEOnet to improve information and communication technology (ICT) networks in the Cochrane and Temiskaming Districts. Once complete, these strategic initiatives are expected to support more than 400 business, while helping to create and maintain over 90 middle-class jobs in the region.
Today’s announcement is further proof of the Government of Canada’s commitment to Canadian businesses and organizations – helping them to overcome the challenges posed by COVID-19. Initiatives like these will help get Canadians back to work and ensure that small businesses can play a major role in Canada’s economic recovery.