THUNDER BAY - Several local businesses are benefiting from an investment from FedNor in an effort to stimulate the economy and the manufacturing sector in the city.
On Wednesday, Thunder Bay-Rainy River MP, Marcus Powlowski announced on behalf of Melanie Joly, the Minister responsible for FedNor, an investment of $848,748 to help three local businesses expand operations.
“COVID-19 has severely impacted the economy,” Powlowski said. “Pretty well all economists feel the best way out of this is to spend money to stimulate the economy. Keeping jobs going means people will have money to spend in the economy.”
The funding is being made available through FedNor’s Regional Economic Growth through Innovation Program and the Steel and Aluminum Initiative.
Nu-Tech Metals Sales and Services will receive $382,000 to modernize production with an art fiber laser.
Kyle Felbel, manager of Nu-Tech Metals, said the addition of the new laser will allow the company to be more efficient, reduce its carbon footprint, and compete in domestic and international markets.
“I would say it’s been a monumental acquisition and rehabilitation of our production facility,” he said.
“We have two new employees we have hired full time, but we’ve also retained 10 to 15 at full-time rates. It opens new doors. COVID has kind of closed them a little bit, but the fact that we’ve kept them here full time is wonderful.”
Thunder Bay Hydraulics will be expanding to commercial markets for its manufactured scissor lifts, which will create 10 new jobs.
“Expanding into the commercial hydraulic scissor lift market is a game changer for our company,” said Jamie Crozier, Manager, Thunder Bay Hydraulics. “FedNor support is allowing us to expand our product line and upgrade our facilities. We fully expect this expansion will allow us double our annual sales and production, helping to take our business to new heights.”
Heartbeat Hot Sauce will receive $190,000 to expand production and retailing both within Canada and beyond and create nine new jobs.
“Heartbeat Hot Sauce has become so popular that we need a bigger building, more capacity, larger workforce, and upgraded production processes to keep pace with demand,” said Nancy Shaw, owner of Heartbeat Hot Sauce.“We have a hot commodity on our hands and we’re thrilled that FedNor is partnering with us to make this expansion possible.”
Powlowski added that investing in local businesses not only helps stimulate the economy but also provides more tax dollars.
“This is really good for our economy,” Powlowski said. “Anyone who has a well paying job will put money back into the economy to create more jobs. If people are thinking this is just a handout, we are getting the money back. I think these are sound investments by FedNor.”
