Investing in Economic Opportunities for Elliot Lake
McGuinty Government Stimulating Economic Growth and Development
Ontario is supporting new economic development in Elliot Lake, sustaining local businesses and creating jobs to revitalize the community.
Through the Northern Ontario Heritage Fund Corporation (NOHFC), the province is assisting the City of Elliot Lake make site preparations for the construction of a new 80,000-square foot retail plaza. Once complete, the plaza will provide a downtown retail location for new businesses and former Algo Centre Mall tenants, such as Elliot Lake Foodland.
Investing in Northern Ontario communities is part of the McGuinty government's Growth Plan for Northern Ontario. A strong northern economy creates local jobs and protects the services that mean the most to families - health care and education.
- The NOHFC is investing $1 million in this project through its Infrastructure and Community Development program.
- Ontario is helping businesses displaced from the Algo Centre Mall reopen and rebuild with a $2 million Business Continuity Fund. The NOHFC is providing the funding to the City of Elliot Lake, which has entered into an agreement with the Elliot Lake and North Shore Corporation for Business Development to administer and manage the application process.
- The Honourable Paul R. Bélanger has been appointed to lead an independent public inquiry into the events surrounding the collapse of the Algo Centre Mall. The inquiry process is now underway and more information can be found at www.elliotlakeinquiry.ca.
“By investing in a ‘shovel ready’ construction site for Elliot Lake, our government is demonstrating its commitment to fostering economic development in northern communities, leveraging new investments and opportunities for the region.”
“This project, along with the ongoing demolition of the Algo Centre Mall, is an essential step in the recovery process and a reassuring sign that our community is moving forward with a viable plan for revitalizing the economy.”