NORTH BAY – The Ontario government is investing over $2.5 million in five manufacturing projects in North Bay. The funding is being delivered through the Northern Ontario Heritage Fund Corporation (NOHFC) and will help create 15 new full-time jobs and promote economic development in the north.
“Supporting businesses and local manufacturing in North Bay will help create jobs and contribute to our economic recovery from the COVID-19 outbreak,” said Vic Fedeli, MPP for Nipissing. “As the economy continues on its path to renewal, growth and economic recovery, our government recognizes the importance of keeping the North competitive by supporting Ontario manufacturing and their Ontario-made products.”
The NOHFC investments include:
- Canadore College is receiving $978,000 to purchase and install equipment at the Innovation Centre for Advanced Manufacturing and Prototyping, providing industry partners with access to state-of-the-art technologies, while helping local companies remain competitive and grow;
- Drillco Mining and Exploration is receiving $500,000 to market its innovative clean-tech modular drilling system by building two demonstration prototypes to showcase to prospective mining industry clients;
- Nordic Minesteel Technologies is receiving $500,000 to help bring an innovative battery-powered jack to market and prepare its facility for full-scale production. The jack will assist with heavy truck repair;
- Boart Longyear Canada is receiving $374,035 to purchase and install new equipment and software to increase the production of its wireline system, used by operators of oil and gas wells;
- Nordic Minesteel Technologies is receiving $150,654 to design and build a smaller, mobile version of a remote-controlled, battery-powered jack for lifting large mining trucks.
“Investing in a broad range of industries is integral to creating jobs, prosperity and attracting new business in the north,” said Greg Rickford, Minister of Energy, Northern Development and Mines. “Our government is making smart investments in manufacturing and technology to showcase Northern Ontario as an attractive place to invest.”
The NOHFC promotes economic development across Northern Ontario by providing financial assistance to projects that stimulate growth, job creation and skilled workforce development. Since June 2018, the NOHFC has invested more than $193 million in 1,386 projects in Northern Ontario, leveraging more than $748 million in investment and creating or sustaining 3,912 jobs.