FedNor funds will help the local community futures development corporation support new growth and stability and expansion of the current market

Marcus Powlowski, Member of Parliament for Thunder Bay—Rainy River, announced a FedNor investment of $1,000,000 in the Atikokan Economic Development Corporation (AEDC). The announcement was made on behalf of the Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor.

FedNor funds will support the AEDC’s Investment Fund, which is used to assist entrepreneurs in creating new small- or medium-sized enterprises and to assist existing enterprises in stabilizing or expanding operations. In particular, the Investment Fund can be used to address increasing demand in the mining and energy sectors, which have been identified as areas of growth for Northern Ontario and the Atikokan region.

The Atikokan Economic Development Corporation (AEDC) is a community-based, non-profit organization governed by a local volunteer board of directors. Since 1997, AEDC has help start or maintain over 450 businesses, and has helped create or maintain over 2100 jobs.

This investment will enable the AEDC to better respond to opportunities and challenges faced by the community.

“Northwestern Ontario is a beautiful area which is known for freshwater fishing, hunting, backcountry paddling, camping, hiking and wildlife viewing. The Atikokan Economic Development Corporation is a non-profit, community based corporation that works to maintain and recruit businesses to our local community. This investment in the Atikokan Economic Development Corporation will help drive economic success in northwestern Ontario. These FedNor funds are going help create opportunities and build on existing opportunities in the Atikokan area, and will help to continue building a strong local regional economy,” said Marcus Powlowski, Member of Parliament for Thunder Bay—Rainy River.

Over 20 different mineral development projects are in early- to advanced-exploration stages in the Atikokan area. The funds announced today are provided through FedNor’s Northern Ontario Development Program (NODP), through which FedNor invests in projects led by municipalities, First Nations, and other organizations and institutions that support community economic development, diversification, job creation and self-reliant communities in Northern Ontario.

“This investment is going to help us continue to build prosperity and growth in the mining and energy sectors and beyond. FedNor’s support helps make it possible for us to work with local businesses, organizations, and entrepreneurs, and these funds will directly foster development in the local economy of Atikokan and area,” said Garry McKinnon, Executive Director of the Atikokan Economic Development Corporation.