Province provides $3.5M for northern Ontario businesses
The province unveiled money for the mining, manufacturing, digital economy and forestry sectors in North Bay and Mattawa on Friday.
In Nipissing area, the Ontario government said it is providing more than $3.5 million through the Northern Ontario Heritage Fund Corporation (NOHFC) for nine projects.
“By investing in projects from varied sectors, our government is promoting a more diverse economy and supporting job creation in Nipissing,” Vic Fedeli, MPP for Nipissing, said in a news release.
“It’s one more way we are signalling to the world that Northern Ontario is open for business.”
Projects receiving funding include:
- $1,132,558 for Miller Technology Inc. to purchase new equipment, to expand operations and to develop prototypes of the EV low-back grader to be used for underground mining.
- $523,345 for Think On Inc. to create a security operations centre in North Bay and expand operations.
- $353,040 for Driller’s Edge to purchase automated equipment to modernize its operations.
- $241,500 for Pneuma-Tools Inc. to test new clean-tech rock-drill oils for use in underground mining to increase production and improve health and safety in its operations.
- $158,855 to North Bay Machining Centre Inc. to purchase new equipment to expand operations.
The NOHFC provides financial assistance to projects big and small across northern Ontario to promote economic prosperity.
“Strategic investments will help strengthen economic development in the region,” Fedeli said.
All recipients indicated they were grateful for the funding.
“This is a huge help in increasing our production capacity, export sales, research and development, as well as job creation in the north,” said J. Daniel Bachand, president of Miller Technology Inc.
Nordic Minesteel Technologies Inc. (NMT), a mining industry service provider working to decrease environmental impact in the sector, will receive $250,000 to develop a tool to safely install and remove heavy haul truck tires.
“NOHFC funding has helped NMT grow and diversify our business by offsetting a portion of the financial risks associated with designing and manufacturing innovative and new products,” said the CEO of NMT, Ronald Elliott. “This growth has been accompanied by a change in our local employment needs as we have experienced increases in the areas of skilled trades and professionals.”
Pneuma-Tools Inc. will receive more than $240,000 and Boart Longyear Canada will receive over $50,000; both companies will develop clean-tech drilling technology to improve mining production and safety.
And the province is providing almost $850,000 in Mattawa for two forestry sector projects.
The money will be used to purchase new equipment and expand operations for both companies.
“All forestry companies are facing many challenges in the forestry sector with a shortage of skilled workers, safety concerns, higher costs of operating and the ever-rising cost of acquiring new equipment,” said Denis Janveaux, owner of Janveaux Forestry Products Ltd., in the news release.
Janveaux Forest Products, a land clearing and harvesting contractor, will receive more than $800,000.
Rejean Bedard Logging Ltd., a logging company, will receive $43,000.
Since June 2018, the NOHFC has invested more than $559 million in 4,748 projects in northern Ontario, leveraging more than $1.82 billion in investment and creating or sustaining more than 7,500 jobs, according to the news release.
CTVNews.ca Top Stories
BREAKING Israel attacks Iran, Reuters sources say; drones reported over Isfahan
Israel has attacked Iran, three people familiar with the matter told Reuters, as Iranian state media reported early on Friday that its forces had destroyed drones, days after Iran launched a retaliatory drone strike on Israel.
American millionaire Jonathan Lehrer denied bail after being charged with killing Canadian couple
American millionaire Jonathan Lehrer, one of two men charged in the killings of a Canadian couple in Dominica, has been denied bail.
Nearly half of China's major cities are sinking, researchers say
Nearly half of China's major cities are suffering 'moderate to severe' levels of subsidence, putting millions at risk of flooding especially as sea levels rise.
Prince Harry formally confirms he is now a U.S. resident
Prince Harry, the son of King Charles III and fifth in line to the British throne, has formally confirmed he is now a U.S. resident.
Judge says 'no evidence fully supports' murder case against Umar Zameer as jury starts deliberations
The judge presiding over the trial of a man accused of fatally running over a Toronto police officer is telling jurors the possible verdicts they may reach based on the evidence in the case.
Health Canada to change sperm donor screening rules for men who have sex with men
Health Canada will change its longstanding policy restricting gay and bisexual men from donating to sperm banks in Canada, CTV News has learned. The federal health agency has adopted a revised directive removing the ban on gay, bisexual and other men who have sex with men, effective May 8.
Colin Jost names one celebrity who is great at hosting 'Saturday Night Live'
Colin Jost, who co-anchors Saturday Night Live's 'Weekend Update,' revealed who he thinks is one of the best hosts on the show.
Sports columnist apologizes for 'oafish' comments directed at Caitlin Clark. The controversy isn't over
A male columnist has apologized for a cringeworthy moment during former University of Iowa superstar and college basketball's highest scorer Caitlin Clark's first news conference as an Indiana Fever player.
'Shopaholic' author Sophie Kinsella reveals brain cancer diagnosis
Sophie Kinsella, the best-selling author behind the 'Shopaholic' book series, has revealed that she is receiving treatment for brain cancer.