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2012-06-29 at 16:54

Two local businesses awarded NOHFC dollars

By tbnewswatch.com
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Two local businesses are getting a funding boost from the province to expand their operations and hire new workers. 

Cinevate Incorporated, a local firm that produces advanced cinematography equipment, is receiving $664,000 from the Northern Ontario Heritage Fund. 

The company recently moved into a larger space on Squier Street. 

MPP Michael Gravelle (Lib., Thunder Bay – Superior North) said they're a perfect example of a local company flourishing with help from the province.       

Superior Self Storage is located in the former Safeway warehouse on Waterloo Street, and also services the local RV market. 

The Heritage Fund is providing $200,000 to that company to help it expand, and hire an additional six employees.

 

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Tbnewswatch.com(10)

Comments

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unknowncronic says:
reminds me of the energizer bunnier...

it just keeps going n going n going
6/29/2012 6:10:41 PM
jimmyboy says:
More wasted tax dollars...private business should be able to stand on their own 2 feet...Tornado Medical and Global Sticks are a prime example of wasting government funding...long gone are the days of business's expanding and growing of their own accord.!
6/29/2012 8:16:50 PM
Circular_Logic says:
I think I'm going to start keeping track of how many of these ventures fail shortly after they receive their CEDC or NOHF money. Somebody should also track how much money has been 'wasted'.So far we have Global Sticks & Tornado; any takers on when the next failure will happen? These applicants should have to run a Dragon's Den type gauntlet at the very least before any $$$ is forked over!
6/30/2012 1:04:02 AM
Me n My Opinion says:
That's actually a really interesting comment. I wonder if a person could find out the stats on the percentage of business failures that the Dragon's Den investors supported.

Anyone know?
7/3/2012 9:37:31 AM
debt collector says:
There are a number of self storage places around town selling the exact same product. If I owned one of the existing private facilities, I'd be knocking on the Liberals door looking for my handout.
6/30/2012 6:14:05 AM
Glyder says:
I think the government/city has been watching too much Dragon's Den. Are these loans or grants?
6/30/2012 8:49:45 AM
westfort resident says:
Typically, NOHFC funding requires the applicant to invest a percentage of the approved funds. It's not 100% free, in most cases. Cinevate is a Thunder Bay company that exports its products worldwide, employs locally and supports local manufacturers. It's nothing like certain companies that turn up with their hands out, get a bunch of cash, make a bunch of empty promises, then suddenly pack up and leave. Dennis Wood and his staff are locals and they are a great example of homegrown businesses that should be supported and congratulated for creating and supporting local manufacturing jobs. If you don't know anything about how NOHFC funds are allocated, do some research and learn something. Most businesses aren't scammers. They are hard workers, pay their taxes and support local jobs. Don't paint every business with the same stereotypical brush. There are many businesses doing great things in this region. Give them some credit for staying in the region, when others tuck tail and run.
7/2/2012 7:01:45 PM
lori says:
Hey Westfort, give it a rest.

Let the masses criticize what they do not understand. It makes them feel good.

One million more coming to T.Bay and people will criticize.

If NOHFC was really so simple to get, don't you think we would be seeing these announcements weekly.

Some work, some don't.

I do know that the critics would be yelling and screaming about the gov't not doing anything for our region if they didn't give NOHFC money up here.

OH wait, the critics are already saying the gov't doesn't know we exist.

It is so hard to keep track of all of the criticism, on both sides of the same topic. LOL
7/3/2012 8:46:27 PM
Tom Sanderson says:
There ya all go. You just created a job for yourselves. That would be awesome because you all would be busy and not shredding every piece of news that is posted.
Did you read where it says "expand their operations and hire new workers "?
Someone is going to get a job and earn an income and contribute more to the local economy. Isn't that sickening? The nerve of a company to increase the number of employees. I will want them investigated if they start turning a huge profit and the company continues to expand. This creating jobs has got to stop now!
7/3/2012 10:31:54 PM
westfort resident says:
LOL Lori! You're right - my mistake for thinking that some people in TBay might actually have an ounce of common sense. I know for a fact that Cinevate is legitimate, hires workers and supports local manufacturing jobs. It's a great good news story and they deserve our praise and encouragement, not criticism.
7/4/2012 12:18:26 PM
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