Hard-hit communities will be able to tap into an economic diversification fund announced by the federal government.
The Community Adjustment Fund will provide $348.9 million over two years to support “measures” in communities affected by the weak economy.
In 2009-2010, Ontario will get up to $174.2 million.
Northern Ontario projects will receive $15.7 million through an “intake process” with projects to be completed by March 31, 2011.
Southern Ontario projects will rake in $100 million with a projects to be completed by March 31, 2010.
Industry Minister Tony Clement, who made the announcement May 14, said the funding will help “communities diversify their economies, allowing them to build for a long and sustainable future.”
Federal Natural Resources Minister Lisa Raitt announced earlier that the government will invest $1 billion over two years “on a priority basis” to communities affected by the downturn, such as those dependent on forestry, mining and manufacturing.
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