Innovation Supported with Funding Announcement by Minister Bains

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The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and Minister responsible for FedNor

THUNDER BAY – NEWS – “Each region of our country has unique strengths. That means innovation doesn`t just happen in the big cities. It happens in every region of the country. At its most basic, innovation is about making things better in ways that benefit everyone. Where innovation happens matters because that`s where the best jobs are located. Our government’s goal is to promote regional advantages that help our homegrown companies develop into globally competitive successes. Above all, our goal is to give Canadians the supports they need at all stages of their lives to prepare for the well-paying jobs of today and tomorrow. That’s how we will ensure that every job is a better job for Canadians in every region of the country. And that’s how innovation will lead to a better Canada,” says Navdeep Bains, Minister of Innovation, Science and Economic Development.

“Our government is moving forward on its plan to make a meaningful impact in the lives of Northern Ontarians. Investing in the North is about investing in people and communities, and we are committed to supporting businesses, innovation and job growth in every region of Canada. I am very pleased with our government’s commitment to Northern Ontario, and I look forward to seeing the positive impacts this investment and strategy will have on the region,” shares Don Rusnak, Member of Parliament for Thunder Bay—Rainy River.

Don RusnakRusnak, is pleased with Minister Navdeep Bains’ announcement today regarding FedNor. Northern Ontarians will benefit from an increase of FedNor funding, worth $25 million over five years, that will create new jobs and business opportunities that diversify and strengthen the region’s economy.

This increased funding will support communities and businesses in Thunder Bay—Rainy River and across Northwestern Ontario. It will be invested in projects with the greatest potential to create new jobs and business opportunities for the middle class – and those working hard to join it.

Rusnak highlighted the launch of the Prosperity and Growth Strategy for northern Ontario, a targeted approach to economic development through innovation. This strategy will focus on ways to build on the unique strengths and competitive advantages that northern Ontario has in mining, resources and agriculture, among other sectors.

This regional strategy for northern Ontario is part of the Government of Canada’s Innovation and Skills Plan, is what the Liberal Government says is “an ambitious effort to make Canada a world-leading centre for innovation that will create more well-paying jobs and grow the middle class. The goal of this plan is to encourage innovation and attract global investment in every region of the country. Another goal is to provide Canadians with the support they need, wherever they live and work, to continuously learn, enhance their skill set and be equipped for the jobs of the future”.

The Prosperity and Growth Strategy for Northern Ontario will serve as the innovation and skills plan for this region. Every region of the country will eventually have its own version of this plan, which reflects the unique strengths and opportunities of that region.

As part of this new approach to economic development through innovation, each of the country’s six regional development agencies, including FedNor, will be accountable for delivering meaningful results for the communities they serve. Over the next five years, these agencies will invest in strengthening innovation capacity in every region of the country by:

  • Supporting small and medium-sized businesses that want to adopt new technologies and boost their innovation capacity;
  • Nominating 50 firms across the country to participate in a federal program that will help them grow nationally and internationally;
  • Investing $100 million annually across the country in clean technology;
  • And supporting a total of 250 Indigenous projects as they develop and diversify their economies.

 

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