THUNDER BAY -- The minister of natural resources and FedNor announced $1.2 million to create jobs in the region through five organizations Monday at Lakehead University.
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MP Greg Rickford (Cons., Kenora) said FedNor places an emphasis on job creation and part of that process is developing capacity.
The five recipients – the Nishnawbe Aski Development Fund, Thunder Bay Ventures, Matawa First Nations, Muskrat Dam First Nation and Lakehead University – are all best suited for that, said Rickford.
He said the Nishnawbe Aski Development Fund, which received $960,000, has been a flagship development organization that serves one of the largest areas in the country.
“I expect them to continue to place a particular emphasis on small and medium sized businesses that have an opportunity to thrive in isolated and remote First Nation communities,” said Rickford.
“Nishnawbe Aski Development Fund is on the ground, particularly sensitive to real opportunities and they’re always capable of showing they’re delivering real results for those communities.”
Development fund executive director Brian Davey says the funding will be used for their community future fund and for community planning.
“We’re always looking for ways to improve the economic conditions in our communities,” he said, adding the majority of the funding will be used as loans for entrepreneurs looking to start a new business or acquire or expand on an existing business.
Davey said the loans are high-risk and can be for as much as $150,000.
“Many of our entrepreneurs in our communities…can’t mortgage their properties for the equity component. It is tricky business doing business in the communities and what this does – it’s very helpful – it allows us to give them an opportunity to get into the business,” he said.
Thunder Bay Venture will receive $100,000 for its Northwestern Ontario Investment Pool and Matawa First Nations will get $100,000 to provide enhanced broadband services to it five remote communities.
Muskrat Dam First Nation is receiving $63,000 to hire an intern for two years to help with strategic business planning.
Through the funding announced Monday, Lakehead University will receive $50,000 to establish a forest resource analysis database.
Rickford says funding the database is important because as the forest sector rebounds, the federal government wants to have the tools to make the right decisions.
“We have to make sure it’s rebounding for the right reasons. That means making strategic investments in innovation and that demands good data analysis,” he said.
