Ontario Strengthening Forestry and Mining Sectors

98

#Ontario #naturalresources

The Ontario government is providing more than $1.9 million through the Northern Ontario Heritage Fund Corporation (NOHFC) to seven projects that support and strengthen the forestry and mining sectors in Northern Ontario.

Funds will go towards purchasing equipment, upgrading facilities, and establishing new businesses. This investment will build a stronger Ontario by creating jobs, expanding business operations and boosting economic development in the North.

“We want our forestry and mining sectors – as well as the companies that support and service these important industries – to be competitive, innovative and current,” said Greg Rickford, Minister of Northern Development, Mines, Natural Resources and Forestry in a press release. “Today’s funding is making that happen, while also bringing good jobs and investment to the people and communities of Northern Ontario.”

Examples of projects receiving NOHFC funding include:

  • $352,226 for RCMD Contracting Inc. – a road maintenance, road building and heavy equipment construction company in Dubreuilville – to purchase equipment
  • $147,510 for Stobie Mechanical & Welding – a heavy equipment repair, maintenance and fabrication services business in Echo Bay – to upgrade its workshop and purchase equipment
  • $85,950 to establish BP Logging Inc. – a wood harvesting company in Geraldton.

The NOHFC promotes economic prosperity across Northern Ontario by providing financial assistance to projects – big and small, rural and urban – that stimulate growth, job creation and skills development. Since June 2018, the NOHFC has invested more than $473 million in 4,244 projects in Northern Ontario, leveraging more than $1.5 billion in investment and creating or sustaining over 6,600 jobs.

Media Mayor Inc.

Comments are closed, but trackbacks and pingbacks are open.