The Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor, today announced a FedNor investment of $1,834,000 in Northern Ontario Enterprise Gateway (Northern Ontario Angels), a not-for-profit organization led by a board of volunteers that links private investors with Northern Ontario business to stimulate investment opportunities in the region. Minister Hajdu was joined by Viviane Lapointe, Member of Parliament for Sudbury, and Marc G. Serré, Member of Parliament for Nickel Belt, in making the announcement.

FedNor funding will support a three-year Northern Ontario Angels project designed to support the expansion and modernization of over 100 businesses in Northern Ontario. The project is anticipated to result in 750 new jobs and over $13 million dollars invested in Northern Ontario companies by 2027.

This will be accomplished through the implementation of a detailed marketing and branding strategy, geared toward increasing awareness and visibility of the Northern Ontario Angels. It will also include the development and implementation of an Indigenous business strategy, with a focus on growing its Far North chapter. Additionally, the project will provide education and training for entrepreneurs and investors, increase support for life sciences and mining innovation companies, and increase international investments in Northern Ontario companies.

Northern Ontario Angels is a pan-northern organization that provides services through its chapter communities: Sudbury, Thunder Bay, North Bay, Sault Ste. Marie, Timmins, Kenora, Parry Sound, and the Far North.

Quotes

“Thanks to the Northern Ontario Angels, over 100 local businesses will be able to innovate, expand and grow. This will strengthen our northern economy and communities. Families across the entire region will be able to count on hundreds of new good-paying jobs. This is exactly what’s needed to grow an economy that works for everyone, not just the few.” - The Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor

“Organizations like the Northern Ontario Angels make fantastic partners, because they share our vision for a thriving Northern Ontario. This FedNor investment will encourage entrepreneurship and cultivate industry collaboration here in the region, and those opportunities will help industrial centres like Sudbury thrive.”- Viviane Lapointe, Member of Parliament for Sudbury

“Investments in Northern Ontario businesses ensure the sustainability of our regions while helping improve quality of life for people in Sudbury, in Nickel Belt, and across the North. By supporting increased access to investments for our local small and medium sized businesses, FedNor is helping to build a resilient regional economy that will enhance the growth and vitality of our communities." - Marc G. Serré, Member of Parliament for Nickel Belt and Parliamentary Secretary to the Minister of Official Languages

 “Our goal is to help companies in Northern Ontario grow and succeed through the attraction of angel investments, and FedNor’s support is critical in helping us accomplish that goal. We are proud to partner with FedNor in making connections and generating opportunities, and building a stronger Northern Ontario economy." - Ian Lane, Executive Director of Northern Ontario Angels