FedNor funds will help the local community futures development corporation support new growth and stability and expansion of the current market
Atikokan – Marcus Powlowski, Member of Parliament for Thunder Bay—Rainy River, today announced a FedNor investment of $1,000,000 in the Atikokan Economic Development Corporation (AEDC). The announcement was made on behalf of 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.
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.” – Marcus Powlowski, MP for Thunder Bay—Rainy River