Question Period Note: FedNor Accomplishments

• Since November 4, 2015, FedNor invested over $459 million in 1,138 projects led by local businesses, organizations and communities, helping to support over 33,000 jobs in Northern Ontario.
• These investments have supported priorities including innovation, business growth, Indigenous initiatives, clean technology, youth retention and relief and recovery funding for businesses impacted by the pandemic.
• More than $123 million was allocated through the Regional Relief and Recovery Fund and the Regional Air Transportation Initiative to over 1,200 businesses and organizations, helping to maintain nearly 5,000 jobs.

FedNor’s Regional Economic Growth through Innovation Program helps support business scale-up, increase commercialization rates and enhance regional cluster development resulting in job creation in Northern Ontario. Through its Northern Ontario Development Program, FedNor works closely with and invests in communities to help them attract and retain investment and business, in addition to supporting efforts to diversify the regional workforce.

FedNor's programs provide targeted investments to support women entrepreneurs, to build a bilingual workforce, and to support Indigenous business growth. FedNor also continues to invest in a variety of tourism-related projects to improve the region’s competitive tourism position, as well as other sectors to respond to the needs of businesses that have been hard hit by the COVID-19 pandemic.

In addition to its regular programming, FedNor is now delivering four additional programs that will inject $83 million in new funding into the region over the next few years. These new programs were launched earlier this summer and include the Canada Community Revitalization Fund ($19.14 million over two years), Tourism Relief Fund ($25.3 million over two years), Jobs and Growth Fund ($26.6 million over three years) and the Aerospace Regional Recovery Initiative ($11.88 million over three years).

• FedNor investments support the Prosperity and Growth Strategy for Northern Ontario, focusing on sectors that include: Mining, Forestry, Tourism, Manufacturing, Agri-Food and Health and Life Sciences.
• Through its ongoing programs, FedNor helps entrepreneurs start and grow businesses and develop strong, dynamic and inclusive regional innovation ecosystems.
• With major investments in Sault Ste. Marie’s Algoma Tubes Tenaris ($5 million), First Cobalt Corporation ($5 million), North Bay's Norgalv Ltd., ($1.5 million) and Parry Sound’s Connor Industries ($1 million), FedNor encourages innovative companies to scale up and create jobs.