A large amount of money will soon be seen in Muskoka.

Hundreds of locals gathered at the Muskoka Airport Tuesday afternoon to hear an announcement from the federal government. The Honourable Navdeep Bains, Minister of Innovation, Science, and Economic Development took part in the announcement, saying over $7.1 million will be invested into cottage country.

Bains is on a two-day tour of northern Ontario and he says the government recognizes the needs of these communities. He said continued investments are key for future developments that help fuel the region’s economy. Bains oversees FedNor which aims to help with job creation and economic growth in communities from all over northern Ontario. He announced that FedNor will support 12 priority projects in cottage country that are being led by a local organization.

According to Bains, $2,000,000 will go towards Muskoka Futures enabling the company to continue offering local entrepreneurs and businesses loans and equity financing. A repayable contribution of $1,950,667 will help Lofthouse Manufacturing increase capacity at its plant in Burk’s Falls.

Other priority projects, with money going towards expansion and job creation, include Muskoka Rock Company ($962,000), Crofter’s Food ($568,326), Muskoka North Good Food Co-operative ($399,200), Lake of Bays Brewing Company ($302,000), Parry Sound Community and Business Development Centre ($300,000), Muskoka Steamship and Historical Society ($250,000), Trestle Brewing Company ($200,000), Regional Tourism Organization 12 ($125,000), the Network Gravenhurst ($31,500) and the Township of Armour ($13,440).

Bains says this strategic investment will encourage innovation and pave the way for entrepreneurs, businesses, and communities and all the while creating jobs that families can depend on. He says a solid a plan is in place for Muskoka.

According to officials, FedNor will be allocated with an additional $25 million over the next five years. This is an addition to the $25 million over five years it received in the feds’ 2017 budget.

Previous stories:

Local food co-op receives federal funding to support food tourism and job opportunities

Muskoka Rock uses government funding to help create new jobs