Ontario Government Supports Northern Business
Northern Ontario Grow Bonds Helps Emo Sawmill Expand
SUDBURY - The Ontario government is helping create new jobs in Northwestern Ontario by supporting the expansion and modernization of an Emo sawmill, Northern Development and Mines Minister Rick Bartolucci announced today.
"We are on the side of northerners. That is why this government is firmly committed to investing in private sector job creation in our traditional and emerging economic sectors," said Bartolucci. "We are working closely with northerners to build a stronger, more prosperous North."
Manitou Forest Products Limited has received a $250,000 loan from the Northern Ontario Grow Bonds Pilot Program to help expand its sawmill and to purchase specialized equipment. This investment has created 12 new jobs and is helping to increase the company's overall sales. The Ontario government launched the Northern Ontario Grow Bonds Pilot Program to stimulate job growth and business opportunities in Northern Ontario. Northern residents purchased close to $13 million in bonds, with the proceeds being invested in small and medium-sized businesses in the North.
"Our government is ensuring that small- and medium-sized businesses in the North grow to the next level of success," said Bartolucci. "We are listening to northerners who have expressed to us the importance of investing in projects that help companies remain competitive."
This initiative is just one way the McGuinty government is helping northern businesses. Others include:
• A refocused Northern Ontario Heritage Fund Corporation that works with the private sector to diversify and grow the Northern economy, with additional initiatives in community infrastructure to help increase job creation
• A GO North Investor program, designed to encourage international investment through marketing the North's strengths across the continent and around the world
• Northern Development Councils, which provide a direct link from northerners to the Minister of Northern Development and Mines.
These initiatives are part of the government's Northern Prosperity Plan for building stronger northern communities. The Northern Prosperity Plan has four pillars: Strengthening the North and its Communities; Listening to and Serving Northerners Better; Competing Globally; and Providing Opportunities for All.
Minister's Office - Sudbury
MNDM/NOGBC - Sudbury