Greg Rickford Releases TMI for Northern Business

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Major announcements of $3 million in Funding for Thunder Bay made this morning by Minister Rickford.
Major announcements of $3 million in Funding for Thunder Bay made this morning by Minister Rickford.

NOHFC Helps BusinessSAULT STE MARIE – Business – Greg Rickford, Minister of State for Science and Technology, and FedNor, and Minister responsible for the Ring of Fire, accompanied by Bryan Hayes, Member of Parliament for Sault Ste. Marie, today announced a new FedNor initiative designed to help Northern Ontario manufacturers become more innovative, productive and competitive in the global marketplace.    

Northern Ontario manufacturers with less than 500 employees will be eligible to apply for FedNor funding to assess their need for productivity improvements; help with new equipment purchases, including digital hardware and software; equipment installation and related training costs; as well as process/quality control improvements and certifications. The goal of the initiative is to help manufacturers realize operational efficiencies and boost their productivity, leading to sales growth, increased exports and job creation.

Minister Greg Rickford
Minister Greg Rickford

“Our Government recognizes that small and medium-sized businesses are the lifeblood of the Canadian economy,” said Minister Rickford. “To help improve and modernize their manufacturing operations, Northern Ontario companies can now apply through FedNor’s Targeted Manufacturing Initiative for the financing they need to undertake operational assessments and to upgrade capital equipment used in their manufacturing process to strengthen their growth in a changing global economy.”

“Today’s announcement is great news for businesses in Northern Ontario and right here in Sault Ste. Marie,” said MP Hayes. “Our Government is delivering on our commitment to create jobs, support growth and ensure the long-term prosperity of our country.”

The Targeted Manufacturing Initiative (TMI) will be provided through FedNor’s Northern Ontario Development Program, which supports projects that strengthen community economic development, enhance business development and growth, and facilitate innovation throughout the region.

“Our Government remains focused on providing the right environment for economic growth, through effective cooperation across all sectors, to keep Canadians working and to ensure the long-term prosperity of all our communities,” concluded Minister Rickford.

To find out more about our programs and services, including details on TMI eligibility requirements and funding criteria, please visit: fednor.gc.ca and follow us on Twitter @FedNor.

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