Sudbury’s economy is receiving a boost after three local small businesses were announced as recipients of Northern Ontario Heritage Fund Corporation (NOHFC) funding. Over $1 million in business expansion funding will help the companies create up to 27 new jobs and increase their innovative abilities.
Among those awarded are Stack Brewing, Hard-Line Solutions, and A&M Remediation. These businesses were able to use their funding contributions to purchase new machinery, expand facilities, and increase productivity.
NOHFC is a suite of Northern Ontario government grants and loans that encourage business investment and the creation/maintenance of high-value jobs. Since 2003 NOHFC has invested more than $1.1 billion into small and mid-sized businesses (SMBs) in northern Ontario. These investments have helped businesses create over $3.97 billion in direct economic activity in addition to supporting over 28,000 jobs.
Projects Funded through Northern Ontario Heritage Fund Corporation Grants
The latest projects to receive funding through NOHFC small business grants include:
Stack Brewing: $281,538 for Additional Brewing Equipment
Consumer demand for Stack Brewing’s beer had been steadily increasing, however the company was unable to keep up with demand given their limited production resources. Funding awarded through NOHFC meant that the business was able to invest in new state-of-the-art equipment and increase the amount of product they could sell.
Hard-Line Solutions: $308,000 for Automated Production Equipment
Hard-Line Solutions produces remote and tele-remote controls for the mining industry. To remain a leading supplier for their industry, Hard-Line needed to expand their circuit board printing operations. The company’s investment helped them to acquire more production space and implement an automated assembly line.
A&M Remediation: $438,000 for Underground Waste Management Expansion
A&M Remediation is a mine shaft waste management company that specializes in removing waste materials from mine shafts after mining operations have been completed. The company will leverage nearly $440,000 to expand their underground waste management facility at Vale Canada’s Creighton Mine.
How to Receive NOHFC Northern Ontario Government Funding for Your Business
If your company is expanding in northern Ontario, there may be a variety of small business funding programs available to help finance growth activities. The Northern Ontario Heritage Fund Corporation (NOHFC) is a crown corporation that distributes provincial government funding for businesses. NOHFC administers several small business funding programs aimed towards the growing businesses and supporting employment opportunities in northern Ontario.
To check if your business is eligible for any of NOHFC’s funding programs, please contact a Canadian Government Funding Planner from Mentor Works.