More $$$ for Algoma U, Innovation Centre and others

NEWS  RELEASE

FEDNOR

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Government of Canada investment supports economic development in Sault Ste. Marie

SAULT STE. MARIE, ON (January 17, 2012)  — The Honourable Tony Clement, Minister for FedNor, today announced a Government of Canada investment of more than $540,000 in four initiatives to support small business and community economic development in the Sault Ste.  Marie region.

“The Government of Canada is proud to work with community partners to build a strong economic foundation for Sault Ste. Marie and all of Northern Ontario,” said Minister Clement.

“The investments announced today will set the stage for growth by creating opportunities and  enhancing the innovation, commercialization, management and trade capacity of small and  medium-sized enterprises.”

“These initiatives will accelerate the development and growth of businesses in our region, helping them reach their full potential and become more productive and competitive,” added Bryan Hayes, Member of Parliament for Sault Ste. Marie.

As part of today’s announcement, Algoma University, the Sault Ste. Marie Innovation Centre, the City of Sault Ste Marie and ServiceProbe will receive a total of $541,600 in FedNor funding.

The investments will support a variety of activities, ranging from helping entrepreneurs grow their businesses to completing a market assessment and business case for the development of  a regional public harbour.

“These local initiatives will help support the specific needs of growing businesses in the region,” said Dr. Richard Myers [shown], President of Algoma University. “Furthermore, FedNor’s investments will build on the community’s demonstrated niche strengths in the information technology and  science-based sectors.”

The funding announced today is provided through FedNor’s Northern Ontario Development  Program which supports projects that strengthen community economic development, enhance business growth, and facilitate innovation throughout the region.

To find out more about FedNor, visit here.

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