Essar Steel Algoma has launched a $5-million Community Investment Fund, which will be used for corporate contributions to community charities, foundations and non-profit initiatives.
Contributions through the fund will focus on health, safety and environment; education; social services; and recreation and culture.
The fund, which is good for a five-year term, was approved at the November board of directors meeting.
CEO Jim Hrusovsky said the fund fosters an alliance of the company's core values with those of the community, and the fund demonstrates the company's interest in advancing and preserving the quality of life in the community.
“Our community's ability to attract and retain qualified professionals and highly skilled personnel is dependent upon the city's economic vitality and social fabric,” Hrusovsky said in a news release. “This includes a clean, safe and healthy environment, vibrant post-secondary educational institutions, progressive sports and recreational programming, diverse arts and cultural opportunities, and a social service net to support those in greatest need. Essar Steel Algoma is a stakeholder in this comunity and with this fund we are investing in Sault Ste. Marie.”
Requests for funding will be evaluated within two annual review windows against an established selection of criteria.
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