NORTH BAY – May 12, 2023: The Ontario government is investing more than $3.4 million through the Northern Ontario Heritage Fund Corporation (NOHFC) in eight economic development projects in the Nipissing region. This investment will improve municipal infrastructure, expand business operations and create employment in northeastern Ontario.
“Supporting community and business development creates jobs, keeps our region competitive and attracts new investment,” said Vic Fedeli, MPP for Nipissing. “Our government is helping companies and communities thrive and providing real opportunities for the people of the Nipissing District.”
The NOHFC is funding the following projects:
- $1,100,392 for Nexco Inc. to develop NexcoBase and NexcoBoost – innovative explosive products for the mining and construction industries that are greener for the environment and water resistant;
- $775,000 for Corexplore Drilling Services to purchase two additional drills and support equipment for surface mining and exploration projects;
- $523,738 for Martel & Mitchell Physiotherapy to purchase equipment, renovate existing facilities and build an adjoining new workspace;
- $400,000 for Redpath Canada Limited – a mining construction and engineering company – to build an additional facility to increase repair work capacity;
- $295,728 for Bur Oak Resources Inc. – a renewable energy company that provides solar, wind, and other energy solutions – to build a net zero manufacturing facility;
- $200,654 for Capitol Centre – a visual and performing arts centre – to replace aging infrastructure, including HVAC systems, fire suppression and air quality control equipment, the loading door, and some windows;
- $93,850 for Fur Harvesters Auction Inc. to purchase equipment and renovate its facility; and
- $90,480 for Mincon Canada – a machine shop that manufactures drill bits for the mining industry – to purchase equipment and renovate its facility.
“Our government is building strong, resilient and prosperous communities and businesses in Nipissing and across the North by investing in business expansions and community infrastructure upgrades,” said Greg Rickford, minister of Northern development. “By working together with our northern partners, we continue to make Northern Ontario an attractive place to live, work, play and do business.”
The NOHFC promotes economic prosperity across Northern Ontario by providing financial assistance to projects — big and small, rural and urban — that stimulate growth, job creation and skills development. Since June 2018, the NOHFC has invested more than $639 million in 5,265 projects in Northern Ontario, leveraging more than $2 billion in investment and creating or sustaining over 8,420 jobs.
