On April 1, the Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor, announced Government of Canada investments totalling $7,555,621 for nine initiatives in support of businesses in the Parry Sound and Muskoka region. These investments will also create up to 139 jobs over the next five years, according to a FedNor media release.
The repayable funding is designed to “scale up companies and help them become more competitive”.
“Strong local economies rely upon the growth of local businesses and manufacturers,” said Minister Hajdu. “In these uncertain times, we want to provide Canadian businesses with the tools they need to expand their operations, increase their productivity and take advantage of new business opportunities. Helping business and community partners adapt to the quickly evolving economic realities will help support efforts to strengthen Northern Ontario’s economy.”
The following Muskoka-based companies were included in the announcement:
Lake of Bays Brewing Company will receive a repayable contribution of $197,500 in Regional Economic Growth through Innovation funding for new equipment to increase production capacity at its Baysville facility. Additional lab equipment will improve in-house quality assurance capabilities while an automated can sleeve applicator at its warehouse in Bracebridge will enable the brewery to apply decorative sleeves to plain aluminum beverage cans providing a cost-effective alternative to traditional labels for smaller production runs. Once the project is complete, the company anticipates to create up to six new positions.
Colquhoun Audio Laboratories Limited will receive a repayable contribution of $533,440 through Regional Economic Growth through Innovation funding to purchase the latest in acoustical technology. The new equipment will allow the company, based in Dwight, to bring more of its component manufacturing in-house, reducing reliance on outside/foreign vendors and securing the inventory it needs. In addition, by completing every aspect of the production process at one location, Colquhoun Audio Laboratories Limited will be able to monitor quality control, as well as the adoption of technology, resulting in enhanced production at a lower cost. This investment is expected to result in the creation of 15-20 jobs.
Embertech Industrial Inc. will receive a repayable contribution of $420,400 to increase productivity at its new 13,500 sq. ft. manufacturing facility in Bracebridge and re-orient its production towards more complex, higher margin hydro development projects. Specifically, this Regional Economic Growth through Innovation funding, through FedNor, will be used to buy innovative equipment and implement new technologies. Once complete, this project will lead to the creation of 10 new jobs.
Muskoka Timber Mills is purchasing two new wood drying kilns thanks to a $200,000 repayable investment in Regional Economic Growth through Innovation funding from FedNor. The new equipment will eliminate the need for the Bracebridge company to ship its wood elsewhere for drying, increasing the efficiency of its operations and enabling it to increase production. This project will create up to 10 new jobs.
Icarus Aero Inc. will expand and acquire new innovative equipment for its manufacturing plant in Gravenhurst thanks to a repayable contribution of $1,080,000 in Regional Economic Growth through Innovation Program funding made available through FedNor. The expansion at the Muskoka Airport Business Park will increase the aerospace company’s square footage to accommodate extra production space required to meet market demand. This strategic investment will help automate several processes and modernize the production facility enhancing Icarus Aero Inc.’s competitive edge in the global market place. These improvements are expected to lead to the creation of up to 20 new highly skilled jobs over the next five years.
See the full list of recipients here.
Don’t miss out on Doppler!Sign up here to receive our email digest with links to our most recent stories.
Local news in your inbox three times per week!
Click here to support local news