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Ottawa to invest extra $25M in FedNor over 5 years

MP Don Rusnak says money will be used to create and maintain middle-class jobs.
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Kam Valley Industries’ Tyler Bragnalo (left) presents products made in the Mi-Zone manufacturing lab to Minister Nadveep Bains MP Don Rusnak, Minister Patty Hajdu and Oshki-Pimache-O-Win Executive Director Rosie Mosquito.

THUNDER BAY – The region’s economic development agency is getting an additional $25 million over the next five years.

On Wednesday the federal government announced it plans to increase funding to FedNor, also introducing a new strategy to diversify the area’s economy.

Thunder Bay MP Don Rusnak (Lib., Thunder Bay-Rainy River) was quick to applaud the news, saying it will lead to new jobs and business opportunities.

“Our government is moving forward on its plan to make a meaningful impact in the lives of Northern Ontarians. Investing in the North is about investing in people and communities, and we are committed to supporting businesses, innovation and job growth in every region of Canada,” Rusnak said in a relase issued by his office.

“I am very pleased with our government’s commitment to Northern Ontario, and I look forward to seeing the positive impacts this investment and strategy will have on the region.”

The release states the money will be invested through the newly launched Prosperity and Growth Strategy, which will look at projects that have the greatest potential to create new jobs and business opportunities for the middle class and focus on emerging industries, including clean technology.

Minister of Innovation, Science and Technology Navdeep Bains said eventually the model will be rolled out to all six regional development agencies across Canada.

"Each region of our country has unique strengths. That means innovation doesn`t just happen in the big cities. It happens in every region of the country. At its most basic, innovation is about making things better in ways that benefit everyone,” Bains said in the release.

"Where innovation happens matters because that`s where the best jobs are located. Our government’s goal is to promote regional advantages that help our home-grown companies develop into globally competitive successes.”

According to statistics provided by the feds, FedNor spent $33 million on 166 projects between April 2016 and the end of the year, creating or maintaining 900 middle-class jobs.


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Leith Dunick

About the Author: Leith Dunick

A proud Nova Scotian who has called Thunder Bay home since 2002, Leith is Dougall Media's director of news, but still likes to tell your stories too. Wants his Expos back and to see Neil Young at least one more time. Twitter: @LeithDunick
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