The Atikokan Economic Development Corporation has a newly announced $1 million at its disposal to help small and medium-sized businesses in the area.
FedNor announced the funds, from the Northern Ontario Development Program (NODP), on Jan. 10.
Specifically, the funds will go toward the development corporation's Investment Fund, which is used to help entrepreneurs create small and medium-sized enterprises, and help existing businesses stabilize or expand operations.
Garry McKinnon, executive director of the Atikokan Economic Development Corporation, suggested the funds would be used to help grow mining and energy activity in the area, which have been identified as areas of growth.
“This investment is going to help us continue to build prosperity and growth in the mining and energy sectors and beyond,” McKinnon said in a news release.
“FedNor’s support helps make it possible for us to work with local businesses, organizations, and entrepreneurs, and these funds will directly foster development in the local economy of Atikokan and area.”
More than 20 different mineral development projects are in early- to advanced-exploration stages in the Atikokan area.
Since 1997, the Atikokan Economic Development Corporation has helped start or maintain more than 450 businesses and has helped create or maintain more than 1,200 jobs.
