More than $2.7 million is being allotted for economic development projects in the Kapuskasing and Hornepayne regions.
The North Claybelt Community Futures Development Corporation gets the biggest chunk of change with $2,135,478. Of that, $1,124,478 will go towards entrepreneurship training for local young people over a three-year period. Another $198,000 will enable the organization to purchase and install video collaboration/conferencing systems in CFDCs across Northeastern Ontario to improve services for small businesses and community partners.
Official Language Minority Communities (OLMCs) will benefit from a FedNor investment of $750,000, which will enable the North Claybelt CFDC to build on the positive results of its Francophone Business Development initiative.
The North Claybelt CFDC will also receive FedNor funding of $63,000 to hire a youth intern for a two-year period.
With $500,000, the Nord-Aski Regional Economic Development Corporation will administer the Northeast Investment Pool, a fund that enables Community Futures Development Corporations (CFDCs) in Northeastern Ontario to provide loans of up to $500,000 to small and medium-sized businesses in the region.
The Kapuskasing Economic Development Corporation will use $40,068 to develop an investment attraction strategy for the Town of Kapuskasing. Specifically, the strategy will identify ways to capitalize on the economic potential of the former Agrium Mine site.
An investment of $63,000 will be used by the Hornepayne Economic Development Corporation to hire a youth intern for a two-year period.
The Hearst Economic Development Corporation received $10,800 to explore opportunities linked to sports tourism.
