Ontario Invests in Small Businesses in the Northeast
Province Supporting Job Creation, Growing Regional Economy
With an investment of nearly $1 million through the Northern Ontario Heritage Fund Corporation (NOHFC), the province is supporting four small business projects that will create 21 new jobs:
- Great Lakes Graphite Inc. in Matheson will receive $412,360 to refurbish their facility to produce micronized graphite, a superfine material used in a range of specialized products, such as lithium-ion batteries for electric vehicles and fuel cells for energy storage
- Leis Wood Products in Coleman is receiving $189,857 for an automated bagger and stretch wrapping machine to efficiently package wood shavings, enhancing quality and productivity
- Temiskaming Propane in New Liskeard is receiving $200,000 to establish a new business remanufacturing old propane tanks and reintroducing them into the market
- Nor-Arc Steel Fabricators in Earlton will receive $195,764 to support new equipment to modernize their facility and improve production.
Investing in small business is part of the government’s economic plan to build Ontario up and deliver on its number-one priority to grow the economy and create jobs. The four-part plan includes helping more people get and create the jobs of the future by expanding access to high-quality college and university education. The plan is making the largest infrastructure investment in hospitals, schools, roads, bridges and transit in Ontario’s history and is investing in a low-carbon economy driven by innovative, high-growth, export-oriented businesses. The plan is also helping working Ontarians achieve a more secure retirement.
Quick Facts
- Since 2003, the province has invested more than $1.1 billion through the NOHFC in over 7,400 projects, leveraging more than $3.9 billion in direct economic activity and helping to create or sustain over 28,100 jobs in Northern Ontario.
- The NOHFC’s investments in small business are part of the Ontario government’s Growth Plan for Northern Ontario.
- The NOHFC works to build strong, prosperous northern communities through unique programs such as the Northern Business Opportunity Program.
