Supporting Economic Development in the North Bay Region
Ontario Creating Jobs, Strengthening Northern Economy
Ontario is helping to create jobs and build a stronger, more diverse economy in the North Bay region.
With $2.3-million in support from the province's Northern Ontario Heritage Fund Corporation (NOHFC), 5 projects are boosting the regional economy. Projects include:
- Metso Minerals Canada is receiving $1 million to expand its operations and increase equipment production for the mining and construction industries, creating 15 jobs.
- Feldcamp Equipment is receiving $722,540 to grow its business and expand the current operation to manufacture new products such as electrical control panels, creating 10 jobs.
- The Municipality of Powassan is receiving $387,646 to build an industrial park to attract new businesses to the community.
- The North Bay and District Multicultural Centre is receiving $150,000 to provide immigration support services in six participating municipalities in the South River to Cochrane area.
- The North Bay and District Multicultural Centre is also receiving $57,852 to establish a small business incubator in North Bay to help local entrepreneurs launch their companies.
Investing in public and private-sector job creation projects is part of the government's economic plan for Ontario. The four part plan is building Ontario up by investing in people's talents and skills, building new public infrastructure like roads and transit, creating a dynamic, supportive environment where business thrives and building a secure savings plan so everyone can afford to retire.
- Since 2003, the NOHFC has invested $980 million in more than 6,450 projects in Northern Ontario, creating or sustaining nearly 24,650 jobs.
- In the North Bay/Nipissing region alone, the NOHFC has invested $94 million in 676 projects, creating or sustaining more than 3,500 jobs, since 2003.
- The NOHFC’s investments in economic development are an important part of the Ontario government’s Growth Plan for Northern Ontario. A strong northern economy will give the people of Ontario more opportunities for jobs and economic prosperity.
“Our government recognizes that private sector expansion and job creation is vital to the growth of our northern economy. We are pleased to support these entrepreneurs as they grow their businesses and we are also committed to helping our community partners build new infrastructure and attract new residents to the North.”