Fund boosts job creation
An economic development fund established in Sault Ste. Marie in 1999 has resulted in job creation in the city, the economic development corporation (EDC) reports.
The fund was established with $450,000 from a surplus of provincial funding and was used to help develop 13 economic development projects. The fund has been instrumental in creating more than 450 jobs in the Sault.
Of the 13 projects that have used varying amounts of the fund, nine are completed, officials with the EDC say. Three are close to completion and one is yet to be determined.
The biggest success has been the $160,650 dedicated to the city's call centre strategy, which ultimately attracted RMH Teleservices to Sault Ste. Marie.
The strategy has created 450 jobs in the city with an annual payroll of about $9 million.
EDC has suggested a new fund be worked into the city's next budget, which was to be deliberated on May 22.
So far, the current fund has been used for the industrial marketing strategy, waiving 1999 Canadian Lock fees, assisting with the development of Adnet, and the creation a National Post advertising campaign.
It has also been tapped for an airport study, a transpolar flight study, a city trial system study, the Searchmont Master Plan, the Ontario Open Golf event and TimeShip 2000.