McGuinty Government Strengthens Biotech Opportunities Across Northern Ontario
TORONTO - The McGuinty government is delivering positive change by investing $150,000 in Northern Ontario's biotechnology cluster to help identify new business opportunities in the North.
Funding from the Northern Ontario Heritage Fund Corporation (NOHFC) was announced today by Northern Development and Mines Minister and NOHFC Chair Rick Bartolucci.
"Biotechnology clusters bring enormous potential for new opportunities across the North," said Bartolucci. "They draw together a wealth of expertise in key northern sectors such as mining and forestry. I am delighted that the Ontario government is an active partner in this exciting economic development project."
The Northern Ontario Biotechnology Initiative (NOBI) includes 37 members from industry, all levels of government and post-secondary institutions in Thunder Bay, Sault Ste. Marie, Timmins, Sudbury and North Bay. NOBI will use the funding to explore new biotechnology opportunities in the agricultural, mining and remediation, forestry and medical sectors.
"Working with the private sector to create jobs in the North is among our government's most important priorities," said Bartolucci. "An expanded biotechnology industry in Northern Ontario not only helps retain and draw qualified professionals to the region, but creates opportunities for our youth to remain in the North."
The McGuinty government is returning the fund to its original mandate of fostering private sector job creation. The NOHFC is working in partnership with the private sector and other levels of government to diversify the northern economy and stimulate jobs. It is a vital part of the government's commitment to delivering a four-year plan for positive change across the North.