Richards Landing, Ontario - 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 an unconditionally repayable FedNor investment of $47,752 in the Masters Fibre Mill and Alpaca Farm. The announcement was made on behalf of the Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor
The funds will be used to acquire new machinery and hardware and to receive relevant training, and to upgrade facilities. Specifically, Masters Mill will purchase an automated 3D knitting machine, which will allow the business to expand product offerings, increase revenues, and reach new markets. The equipment will support the creation of products such as knit sweaters, toques, and mitts, making Masters Mill the only company in Canada producing those items using only Canadian fibre.
The FedNor funds announced today are provided through the Targeted Manufacturing Initiative for Northern Ontario (TMINO), which helps existing Northern Ontario manufacturers upgrade and improve capital equipment used in manufacturing processes, including information and communications technology, to improve their competitiveness and productivity.
