Small Businesses Grow In Timmins and Hearst Area
McGuinty Government Supports Youth Ventures
Ontario is helping young entrepreneurs start new businesses in Northeastern Ontario.
The province, through the Northern Ontario Heritage Fund Corporation (NOHFC), is investing $225,000 in the start-up of nine new businesses launched by northern youth. Funding is provided through the NOHFC's Young Entrepreneur Program. These new businesses are creating 15 jobs immediately and are expected to create some 13 additional jobs over the next three years.
- The NOHFC is also providing funding of $650,000 for upgrades and renovations to a facility in Timmins that will host a new customer interaction centre.
- Since 2003, the NOHFC has invested nearly $423 million in more than 2,300 northern projects leveraging an additional $1.3 billion from project partners.
“By providing start up funding for these businesses, we are laying a stronger economic foundation and helping young entrepreneurs build careers and families close to home.”