Red Lake Eyes Commercial Opportunities Along Hwy. 105
McGuinty Government Supports Community Development Efforts
The Municipality of Red Lake is looking to enhance and expand commercial land space along Highway 105 to attract new economic activity.
The Northern Ontario Heritage Fund Corporation (NOHFC) is contributing $28,880 towards an engineering study. Currently, the Highway 105 commercial area is fully occupied. Through draft designs, plans, surveys and site preparations, the study also aims to identify additional services that will help Red Lake thrive. Funding is provided through the NOHFC's Infrastructure and Community Development Program.
Overall, the project objectives are to:
- create employment, and attract investors, professionals, and new businesses to the area
- make Red Lake an investment ready community
- encourage residents to shop and invest locally.
- The mining industry is the major employer in the Red Lake area. Exploration activity and overall industry growth have increased significantly over the last three years.
- The Red Lake area is among the best gold-producing areas of North America. Over the past 75 years, more than 18 million ounces of gold have been mined from 17 mines in the district.
“The current boom in mineral exploration has positioned Red Lake to prosper and we are proud to be helping develop its growth strategies for the future.”