Ontario Announces Grow Bonds Investment In Wawa
Northern Ontario Grow Bonds Help Local Company Expand
WAWA - The McGuinty government is investing in a northern company's plans to expand and create new jobs, Northern Development and Mines Minister Rick Bartolucci announced today.
"We are on the side of northerners. That is why we continue to invest in private sector job creation in traditional and emerging sectors of the northern economy," said Bartolucci. "We are working to build a stronger, more prosperous North."
The Wilderness Group will receive $1 million from the Northern Ontario Grow Bonds Corporation to help expand its operations. The loan will be used to purchase and refurbish helicopters for use and resale, as well as to acquire new vegetation spraying equipment. The Wilderness Group is in the overhaul and maintenance business, as well as tree planting and forest management services. Other operations of the Wilderness Group also provide helicopter based services such as charters, surveying and mapping.
The government of Ontario 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 proceeds to be invested in small and medium-sized businesses in the North.
"This is an excellent example of the Northern Ontario Grow Bonds pilot program in action," said Bartolucci. "The Wilderness Group is active in a number of locations across Northern Ontario. With this investment they will be better positioned to pursue new opportunities for expansion and long-term success."
Other McGuinty government initiatives in support of northern communities include:
• Investments totalling $182 million since October 2003 through the Northern Ontario Heritage Fund that have helped create or sustain over 6,000 jobs and work placements
• The GO North Investor Program, which markets Northern Ontario investment opportunities to international investors around the world
• A $357-million investment this year in the rehabilitation and expansion of the northern highway network.
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