FedNor funding will help local small and medium businesses

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Today, Sault Ste. Marie MP Terry Sheehan announced more than $ 2.6 million in funding for small and medium-sized businesses in Sault Ste. Marie and its surroundings.”Provided by FedNor, the funding will support five strategic initiatives that will help companies innovate, bring new products to market and expand their businesses,” said a press release issued today. “They will also provide emergency response funding for COVID-19 to help businesses survive and maintain jobs.

Funding will be provided for:

  • Sault Ste. Marie Innovation Center (SSMIC) – $ 1,903,000
    • Innovation Acceleration Program $ 745,000: A FedNor investment of $ 745,000 will be used by the SSMIC to administer an innovation acceleration program. Designed to improve innovation, marketing, management and business capacity of businesses in Sault Ste. Marie and Algoma Region, the program will provide eligible businesses with up to $ 10,000 in non-repayable funding to support innovative business and product development activities. The program will target key sectors of the economy such as advanced manufacturing, digital and clean technology, agri-food, health and life sciences, natural resources and tourism.
    • Business Technology Improvement Fund $ 660,000: To help local businesses adopt digital technology and e-commerce solutions, a FedNor investment of $ 660,000 will allow SSMIC to administer a business technology improvement fund. This strategic investment will provide eligible businesses with non-repayable funding of up to $ 25,000 to support the purchase of new technologies, specialized design and production equipment, customer management systems, and designed hardware and software. to modernize their operations.
    • New Agri-Food and Sustainable Productivity Program $ 498,000: To provide emergency response funds for COVID-19 to help agricultural and food processing businesses adapt to new market demands so that they can survive, maintain local jobs and support regional food security and distribution models.
  • Heliene Canada – $ 400,000: FedNor’s funding of $ 400,000 will allow Heliene Canada to expand its Sault Ste. Marie area of ​​4,000 square feet to create more production and office space, build a new high-voltage testing laboratory, and install a new heating, ventilation and air conditioning system. This project would elevate the solar panel maker’s production facility to the best of its class, ensuring it has the space and production environment to bring new products under development to market, helping its recovery from COVID-19 .
  • Sault College of Applied Arts and Technology – $ 378,000: To help facilitate industrial and academic partnerships for research and development projects, FedNor’s funding of $ 378,000 will allow Sault College to hire a liaison coordinator with the industry and a pre-commercial research technician to work with industry partners and provide assistance to support business expansion and improve productivity.

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