FedNor Invests $9.7M in Northern Ontario Tourism
As the tourism industry around the world continues to bounce back following two years of immense challenges due to the global pandemic, FedNor is investing nearly $9.7 million to provide business support to 74 tourism projects in Northern Ontario.
This provincial funding for Ontario businesses will ensure the selected projects have the cashflow they need to help meet their objectives and succeed in boosting the region’s economic growth, such as the goal to help create and maintain over 280 new jobs.
“The Canadian economy will not fully recover until our tourism sector recovers.”
– Randy Boissonnault, Minister of Tourism and Associate Minister of Finance
This Canadian government grant has been made available through both the Tourism Relief Fund (TRF) and FedNor’s Northern Ontario Development Program (NODP). In July 2021, the TRF was established to assist tourism businesses in adapting their operations to meet public health requirements, provide innovative products and services, and prepare for returning travellers.
A total of over $485 million has been provided in TRF funding support by Canada’s regional development agencies, including FedNor.
About FedNor Funding for Northern Ontario Tourism
FedNor’s Northern Ontario Development Program (NODP) provides funding for Northern Ontario businesses to work on projects that promote sustainable economic development, diversification, and business growth.
Through NODP funding, FedNor has supported 477 projects since 2015, creating and maintaining over 8,300 jobs in communities and First Nations across Northern Ontario.
“Tourism in Northern Ontario is such an important economic driver, creating good jobs and bringing people from all corners of the world to our beautiful region. I invite everyone across the country to put Northern Ontario on their list of places to visit – come and see what spectacular sights and attractions our region has to offer.”
– Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor
Indigenous communities that depend heavily on tourism have been disproportionately affected by the pandemic. The fund’s regional priorities budget has exclusively allocated $50 million to support indigenous community tourism projects.
Grants and Loans for Northern Ontario Businesses
In addition to FedNor government funding, one of the largest providers of grants and loans for Northern Ontario businesses is the Northern Ontario Heritage Fund Corporation (NOHFC).
NOHFC provides businesses with up to $5 million Canadian government grants from a range of diverse program streams supporting initiatives such as:
- Offsetting employee wages through the NOHFC People & Talent Program;
- Repairing and building infrastructure in local communities via the NOHFC Community Enhancement Program;
- Enhancing Northern Ontario culture through the NOHFC Cultural Supports Program; and
- Promoting innovation of new products, processes, and/or systems via the NOHFC INVEST North Program.
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