Elliot Lake, ON - Federal Economic Development Agency for Northern Ontario - FedNor
Terry Sheehan, Member of Parliament for Sault Ste. Marie and Parliamentary Secretary to the Minister of Labour and Seniors, today announced a total FedNor investment of $1,696,000 in three projects in the East Algoma - Lake Huron North Shore area. The announcement was made on behalf of the Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor.
Of the total funds, $1,600,000 will go to the East Algoma Community Futures Development Corporation (EACFDC) in support of operating costs for a five-year period beginning April 1, 2024. The funding will help EACFDC provide business counselling and investment services to small and medium-sized businesses, as well as leadership in community strategic planning and socio-economic development. In the previous five-year operating period, EACFDC assisted over 50 businesses, including new startups. They also helped create or maintain over 100 jobs in their catchment area.
The remaining FedNor funds will go to the City of Elliot Lake for two projects. $72,000 will support the community in developing a detailed tourism strategy. This project will provide the City of Elliot Lake with detailed activities and measurable goals on how to increase tourism. The remaining $24,000 will support the community in completing infrastructure service for a new industrial park development. This will include project design and electrical hook up of a lift station. These two projects will strengthen the local economy by supporting business development, and by bolstering hospitality and retail in the community.
