Sudbury, ON - Federal Economic Development Agency for Northern Ontario - FedNor
Viviane Lapointe, Member of Parliament for Sudbury, today announced that the Government of Canada is investing $960,000 to support the ongoing operations of the Nickel Basin Federal Development Corporation (Nickel Basin) for a three-year period. MP Lapointe was joined by Marc G. Serré, Member of Parliament for Nickel Belt and Parliamentary Secretary to the Ministers of Energy and Natural Resources and Official Languages for the announcement, which was made on behalf of the Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor.
Provided through FedNor's Northern Ontario Development Program, the funding will allow Nickel Basin to provide business counselling and investment services to small and medium-sized businesses and support socio-economic development in the community. As result of this investment, Nickel Basin will assist approximately 60 businesses with start-up, maintenance and expansion efforts, which are expected to help create and maintain up to 900 local jobs.
For 25 years, Nickel Basin has been helping local entrepreneurs start or expand their businesses, create local jobs and support a stronger, more diversified economy. Based in Sudbury, Nickel Basin provides a full range of business development services, including access to capital, mentoring, information and referrals. To accelerate the growth of scalable technology start-ups, the organization also administers the Sudbury Catalyst Fund, which makes equity investments in start-up companies in key sectors including clean tech, biomed and advanced manufacturing.
