Information - Minister Clement announces support for business growth and youth initiatives in the Sault Ste. Marie region

SMALL BUSINESS INITIATIVES

Algoma University - $218,750

FedNor funding of $218,750 will help advance the development and commercialization of research projects, and support the start-up of small and medium-sized enterprises. The FedNor investment will help Algoma University’s partner, the Sault Ste. Marie Innovation Centre, equip new and expanded offices, as well as a research and development lab.

Sault Ste. Marie Innovation Centre - $200,000

FedNor is investing $200,000 in the Sault Ste. Marie Innovation Centre’s Innovation Accelerator Program to enhance the innovation, commercialization, management and trade capacity of small and medium-sized enterprises (SMEs) in the Sault Ste. Marie region. This initiative will provide eligible SMEs with up to $5,000 toward specific project costs needed to grow their business, develop new products and seize market opportunities. Support will range anywhere from business planning and product development to in-market licenses and productivity research.

COMMUNITY ECONOMIC DEVELOPMENT

City of Sault Ste. Marie - $100,000

This investment will be used by the City of Sault Ste. Marie to hire a consultant to complete a market assessment and business case for the development of a regional public harbour in Sault Ste. Marie. The results will be used to determine the need for and benefits of enhancing the existing harbour to facilitate the transportation of regional goods to and from the community.

YOUTH INITIATIVES

ServiceProbe Ltd. - $22,850

This training and organizational development company in Sault Ste. Marie will use the FedNor investment to hire a youth intern to develop and integrate a new software module, enabling the company to offer a comprehensive suite of web-based training and development products and services. Since 1997, FedNor has helped provide more than 1300 young graduates with their crucial first job, and assisted countless local organizations and businesses in growing the economy by helping them access a qualified and talented workforce.

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