Sudbury Northern Life
The Northern Ontario Heritage Fund Corporation (NOHFC) is providing more than $500,000 to a number of young entrepreneurs in Sudbury and to assist existing businesses to enhance their operations, Sudbury MPP Rick Bartolucci announced Friday morning.
“These are valuable investments in our city's economic future,” Bartolucci said.
“Young entrepreneurs taking root at home will become our economic leaders of tomorrow.”
The funding will help a long-established landmark hotel — the Cardinal Motor Inn on Regent Street — adopt more energy efficient systems. The hotel/restaurant/bar will be installing a half-million-dollar solar water heating system. The NOHFC will contribute $250,000 to the project from the Northern Energy Program.
“This one of a kind initiative on the part of Nick Koutsoukis and the Cardinal Motor Inn is truly an example for others to follow in our quest for a greener environment,” Bartolucci said.
Funding will support the start-up of eight new businesses spearheaded by young entrepreneurs.
The following local businesses will benefit from the funding: $25,000 each to Sudbury Custom Turf Outfitters, to start a turf supply and drainage service catering to the needs of golf courses; Sudbury Synergy Fitness Studios, to start a personal training business; Sudbury Hydraulics North Limited, to provide computer technology services to the forest industry; Sudbury Project Dance, to open a dance studio; Sudbury Vivid Designer Clothing and Footwear, to open a designer clothing and footwear store; and Sudbury Cosmic Dave's Guitar Emporium, to open a retail store selling musical instruments. Sudbury Over the Atlantic Limited will receive $24,240 to start a web-focused marketing and public relations service, and Sudbury Universal Cleaning and Maintenance will receive $13,005 to start a commercial cleaning service.
The NOHFC funding will also help launch and market a new software company called Sudbury myCommittee.com. $70,490 will be contributed to this project from the Emerging Technology Program.
Since October 2003, the NOHFC has invested a total of more than $12.3 million in support of youth entrepreneurship and other private sector initiatives in the Sudbury area.
For more on the Cardinal Motor Inn's new solar system, see Northern Life newspaper.
