Northern Ontario Heritage Fund Corporation provides financial assistance to projects – big and small, rural and urban
The Ontario government is providing more than $200,000 through the Northern Ontario Heritage Fund Corporation to two manufacturing companies in Sault Ste. Marie.
Steel Speed, an industrial maintenance and construction services company, is receiving $118,483 to purchase equipment to increase its manufacturing capacity, and $83,871 is to help establish Grunewald Machine Ltd., a machining and fabrication services business, according to a news release. “Today’s investment will help create real opportunities through new highly skilled, good-paying jobs here in Sault Ste. Marie,” said Ross Romano, MPP for Sault Ste. Marie in the release “This funding is contributing to our local, regional and provincial economies, and is a great example of our community being an important part of the integrated supply chain in the industrial manufacturing sector.”
The NOHFC promotes economic prosperity across Northern Ontario by providing financial assistance to projects – big and small, rural and urban – that stimulate growth, job creation and skills development. Since June 2018, the NOHFC has invested more than $613 million in 5,214 projects in Northern Ontario, leveraging more than $1.94 billion in investment and creating or sustaining over 8,240 jobs, the release said.
“Supporting local companies as they develop and expand creates jobs, keeps the North competitive and current, and attracts new investment,” said Greg Rickford, Minister of Northern Development. “Our provincial government funding is helping businesses thrive, leading to economic prosperity in our communities and providing real opportunities for northerners.”
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