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Small business getting a $3.6M leg up in Kapuskasing

Funds will support youth programs, small and medium enterprises
open for business stock
(Stock photo)

An infusion of $3.6 million in federal cash will go to support entrepreneurs and educational business programming for youth in the Kapuskasing area.

On March 3, FedNor announced two funding parcels designed to support business initiatives provided through the North Claybelt Community Futures Development Corp (CFDC).

Of the funding, $2 million will support Head Start in Business over a three-year period. The pan-northern program provides entrepreneurship training to youth between five and 29.

The remaining $1.6 million will help the North Claybelt CFDC grow and develop small and medium enterprises in the region.

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Since 2016, the CFDC has helped more than 185 local businesses to create or maintain more than 221 jobs across the area.

“This investment will ensure our future leaders have the training they need to fully contribute to Northern Ontario’s economy and will help decrease youth outmigration across the North,” said Gilbert Peters, vice-chair of the North Claybelt CFDC, in a March 3 news release.

“Today’s announcement also allows our organization to continue supporting new and existing businesses, as well as job creation in the region.” 

Funding comes through FedNor’s Northern Ontario Development Program and the Community Futures Program, which support projects that promote sustainable community economic development, enhance business development and growth, and facilitate innovation.