FedNor is investing more than $1.7 million in five projects in Parry Sound—Muskoka to support business and community growth through advanced manufacturing and innovation.
Patty Hajdu, Minister of Jobs and Families and Minister responsible for FedNor, announced the investment on Aug. 18.
“A strong national economy is built on strong regional economies, and those foundations are made up of local businesses and the people who run them. Investments like these help Northern Ontario manufacturers adopt the advanced technology they need to compete and grow, creating good jobs and opportunity right in the communities where people live. When we back local businesses, we are building a stronger, more resilient Canada, one region at a time.”
According to officials, the five projects receiving FedNor funding are the following:
- Parry Sound-based Connor Industries will receive a $461,952 repayable investment to acquire and install innovative equipment to enhance its watercraft manufacturing operations.
- Muskoka Community Land Trust will receive a $407,260 non-repayable investment to support investment-readiness planning for housing developments.
- Burk’s Falls-based Lofthouse Manufacturing will receive a $400,000 repayable investment to improve manufacturing productivity and expand its export operations.
- Muskoka Brewery, located in Bracebridge, will receive a $367,500 repayable investment to acquire and install new equipment to support the development of new products.
- Huntsville-based Keystone Granite Management will receive a $130,000 repayable investment to acquire and commission innovative equipment to produce value-added granite products for the construction and landscaping industries.
FedNor officials said collectively, these projects are expected to strengthen the regional economy by creating 16 full-time equivalent jobs and helping local businesses develop and sell new, high-value products.
Additionally, officials said this investment will help strengthen Northern Ontario’s position as a leader in advanced manufacturing and sustainable growth.
