Economic Support on the Way for Elliot Lake
McGuinty Government Standing Behind Local Businesses and Families
Ontario is supporting Elliot Lake's economic recovery to sustain local businesses and protect jobs for families.
Through the Northern Ontario Heritage Fund Corporation (NOHFC), the province has created a two-year, $2-million business continuity fund for the City of Elliot Lake. The fund will help affected businesses re-open in temporary locations and put mall employees back to work as quickly as possible. It will also support priority economic development projects and will help impacted businesses find permanent homes.
The city and its economic development partners will also receive another $50,000 to support mid- to long-term initiatives that will create jobs, grow the business community and strengthen the economy.
Ontario is also setting up a temporary provincial economic revitalization office in the community. Staff from the Ministry of Northern Development and Mines will work closely with other provincial ministries, the municipality, local businesses and other stakeholders toward economic recovery.
- The NOHFC is supporting this initiative through its Infrastructure and Community Development Program. The funds will not support loss of business revenues or employment income. Financial institutions, government and service agency offices are ineligible.
- A community adjustment agreement has also been signed with the City of Elliot Lake to help develop and implement a long-term recovery plan for local retailers, service employers and their workers.
- 32 mall tenants were displaced by the collapse. The mall represented 60 per cent of all available retail space in Elliot Lake.
- The provincial economic revitalization office is located in the ServiceOntario Centre on Hillside Drive North.
“The community of Elliot Lake is known for its resilience in the face of serious challenges and as part of the healing process, will focus on dealing with the economic impacts resulting from this heartbreaking event. I am pleased that the Northern Ontario Heritage Fund is able to act quickly to help address a number of pressing short-term issues that will help Elliot Lake residents move forward.”
“We are very pleased that this funding will help address some immediate concerns in our business community and we look forward to working with the province on many levels to help our entire community recover and heal from this tragedy.”