The Sault Ste. Marie Economic Development Corp. (EDC) is reporting success helping to grow 20 companies in 2016 through its Business Retention and Expansion (BR+E) program.
According to the EDC, the growth created 167 direct jobs, retained 314 jobs, and led to approximately $19 million in new investments in the community. Participating companies range across sectors.
They include industrial firms like Fleming’s Trucking & Logging and Soo Foundry & Machine, in addition to retail companies like Chippewa Trading Post and Northern Superior Brewing.
The BR+E program helps companies access new markets or acquire funds to purchase equipment and undertake capital improvements.
“For medium-sized businesses looking to export, it’s important to have an organization like the SSMEDC to help make connections,” said Robert Cohen, president of Soo Foundry & Machine, in a release. “It’s impossible to do this type of work alone.”
A full report of the SSMEDC’s 2016 activity and results is expected to be released in the coming weeks.
