SUDBURY – The Ontario government is providing more than $3.6 million through the Northern Ontario Heritage Fund Corporation (NOHFC) to 13 economic development projects in the Greater Sudbury area. This investment will help build a stronger Ontario by creating good-paying jobs, boosting economic growth and improving quality of life in northern communities.
“As the largest city in Northern Ontario, Sudbury is a major economic hub and industrial centre,” said Greg Rickford, Minister of Northern Development, Mines, Natural Resources and Forestry. “By investing in projects from varied sectors in Greater Sudbury, our government is promoting a more diverse economy and supporting job creation in this important region.”
Projects receiving NOHFC funding include:
- $1,606,250 to the City of Greater Sudbury to lead the Northern Ontario Exports program aimed at assisting small and medium sized enterprises from across Northern Ontario to take advantage of global exporting opportunities
- $500,000 to Verv Technologies to support the commercialization of an at-home health monitoring system
- $67,175 to Bio-Mine Ltd. to develop fast, efficient and affordable COVID-19 testing kits
“As we all work together towards economic recovery, our government is making strategic investments in communities in every part of the province—including Ontario’s North,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “Exciting new projects like these will help to create good, local jobs in Sudbury in a variety of sectors and stimulate new growth across the region.”
The NOHFC promotes economic prosperity across Northern Ontario by providing financial assistance to projects—big and small, rural and urban—that stimulate growth, job creation and skills development. Since June 2018, the NOHFC has invested more than $432 million in 4,025 projects in Northern Ontario, leveraging more than $1.4 billion in investment and creating or sustaining over 6,200 jobs.
Quick Facts
- In 2021, the Ontario government launched new and improved NOHFC programs that support more projects in rural northern communities and make it easier for more people and businesses to apply. The programs target existing and emerging markets, provide more work opportunities for Indigenous people and address the skilled labour shortage in the North.
Quotes
“This ongoing support from the Ontario government and NOHFC will allow Ontario’s North Economic Development Corporation and the Northern Ontario Exports program to continue collaborating with member communities to help small and medium enterprises across Northern Ontario take on global opportunities, expand their business and create new jobs while continuing to prosper as they navigate the effects of the pandemic.”
– Christy Marinig
Chair, Ontario’s North Economic Development Corporation
“It is imperative during challenging times for companies to remain innovative, positive and focused—which is exactly what Verv Technologies has done over the past several years. Government support from NOHFC is essential to drive momentum and provide confidence to a new sector of biotechnology innovations in Northern Ontario. Through the support of NOHFC, Verv Technologies has remained on track, attracting outstanding talent to their team, and achieved targeted milestones that will not only promote further economic development in Northern Ontario, but also improve individuals’ health through their groundbreaking technologies.”
– Jeff Sutton
Founder & President, Verv Technologies
“The world shut down and business like ours were hit hard. It’s only with the support of the Ontario government and agencies like the NOHFC that we were able to pivot and open our new health division in response to COVID-19, with our first product in the pipeline being a rapid diagnostic test based on RNA and CRISPR technology for the masses, more accurate and sensitive than any current testing being used today.”
– Kurtis Vanwallegham
Chief Executive Officer, Bio-Mine Ltd.
SOURCE Province of Ontario
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