New funding will help create jobs and promote economic growth in Northern Ontario
As the economy continues on its path to economic recovery, our PC government recognizes the importance of keeping the North competitive by supporting Ontario manufacturing and their Ontario-made products.
To that end, we are investing more than $2.5 million in five manufacturing projects in North Bay to help create 15 new full-time jobs and promote economic development in the north. The five projects include:
- Canadore College: $978,000 to purchase and install equipment at the Innovation Centre for Advanced Manufacturing and Prototyping, providing industry partners with access to state-of-the-art technologies, while helping local companies remain competitive and grow;
- Drillco Mining and Exploration: $500,000 to market its innovative clean-tech modular drilling system by building two demonstration prototypes to showcase to prospective mining industry clients;
- Nordic Minesteel Technologies: $500,000 to help bring an innovative battery-powered jack to market and prepare its facility for full-scale production;
- Boart Longyear Canada: $374,035 to purchase and install new equipment and software to increase production of its wireline system, used by operators of oil and gas wells; and,
- Nordic Minesteel Technologies: $150,654 to design and build a smaller, mobile version of a remote-controlled, battery-powered jack for lifting large mining trucks.
“Investing in a broad range of industries is integral to creating jobs, prosperity and attracting new business in the north,” said Greg Rickford, MPP for Kenora-Rainy River and Minister of Energy, Northern Development and Mines. “Our government is making smart investments in manufacturing and technology to showcase Northern Ontario as an attractive place to invest.”
The funding will be delivered through the Northern Ontario Heritage Fund Corporation, which promotes economic development across Northern Ontario by providing financial assistance to projects that stimulate growth, job creation and skilled workforce development.