Canada strengthens Algoma and Manitoulin economies

FEDNOR INFORMATION SHEET

************************* ALGOMA DISTRICT

Sault Ste. Marie and Area Community Development Corporation - $1,050,000

East Algoma Community Futures Development Corporation - $900,000

Multi-Year Funding

A FedNor investment of $900,000 each will support the ongoing operations of the Sault Ste. Marie & Area CDC and the East Algoma CFDC through a multi-year operating agreement.

Specifically, the funding will be used to support services to enhance local economic development and small business growth, including: access to capital, business counselling, strategic community planning and socio-economic development in their respective service areas.

Local Initiatives Contribution

The Sault Ste. Marie & Area CDC will also receive a contribution of $150,000 to support local and regional community economic development projects, particularly those which help communities compete in a global economy.

Garden River Opportunities Program (GROP) - $500,000

FedNor funding will support the business plan implementation for a proposed new beverage production and packaging firm which will be wholly-owned by the Garden River First Nation.

The new company will produce proprietary, licensed, co-packed and private label lines of non-alcoholic beverages for sale domestically and in the United States.

St. Marys Renewable Energy Corporation (SMREC) - $500,000

FedNor's support of $500,000 will assist SMREC with developing a feasibility study, business plan and engineering design(s) for a 30 to 50 megawatt biomass-fired combined heat and power facility in Sault Ste. Marie.

The facility will produce electricity that will be sold to the Ontario Power Authority via a 20-year period power purchase agreement and thermal energy which will be sold to neighbouring industrial firms.

Superior East Community Futures Development Corporation - $460,000

FedNor's contribution of $460,000 will support the organization's ongoing investment activities, allowing the CFDC to provide assistance in the form of loans, loan guarantees and equity financing to its small and medium-sized business clients across the region.

The Superior East Community Futures Development Corporation is one of 61 CFDCs across Ontario supported by FedNor's community futures program.

Sault College - $423,000

FedNor provided an investment of $423,000 to assist with the establishment of a multimedia centre equipped with new audio, video and networking technology to improve the quality of long distance education and e-learning to the Algoma District and beyond.

The centre, which includes a 195-seat lecture theatre, will increase capacity of Sault College's programs, resulting in a stronger educational institution and, ultimately, a more highly-skilled workforce in Northern Ontario.

Casata Technologies Ltd. - $372,000

FedNor’s contribution of $372,000 will assist Casata Technologies Ltd. with the development of a proprietary platform joist steel decking technology to be used in exterior residential and industrial building construction.

After developing the engineered structural design, the prototype will be analyzed and tested to meet North American building codes leading to commercialization and marketing of the product.

Sagamok Anishnawbek First Nation - $180,000

FedNor funding will assist Sagamok Anishnawbek First Nation with a mineral industry relations and community development project aimed at achieving greater participation with the private sector in potential new mining opportunities on Aboriginal land.

The project also provides for Sagamok and its members to effectively participate in the mining industry through employment and training programs while ensuring proper environmental stewardship of traditional territories for current and future generations.

Upper Lakes Environmental Research Network - $145,870

The Upper Lakes Environmental Research Network (ULERN) will use the FedNor contribution in its ongoing efforts to plan, develop and implement a bioenergy plantation initiative.

The project will establish short-rotation plantations on unused or under-utilized agricultural land in the North to assess the economic viability of biomass energy and fibre production, as well as identifying other potential benefits including habitat and water quality improvement.

The information gathered will be made available to communities, industry, land owners and farmers throughout Northern Ontario.

Town of Blind River - $100,000

FedNor funding of $100,000 will assist the Town of Blind River and the North Shore Power Group consortium with the costs of a business plan, engineering design and environmental assessment for the development of a biomass cogeneration (heat and power) facility in the region.

In addition to being able to produce electricity for sale to the Hydro One grid, the plant could also potentially provide cost-saving heat or steam to adjacent tenants in the town's planned Eco-Industrial Park.

************************* Click here for details on the rest of the 29 projects being funded.