Ontario invests in North Bay businesses

Northern Ontario’s North Bay area is the beneficiary of more than C$2.3 million (US$1.7 million) in investment funding announced by the province's Ministry of Energy, Northern Development and Mines, which will bring jobs and technology development to seven local companies in the region
Ontario invests in North Bay businesses Ontario invests in North Bay businesses Ontario invests in North Bay businesses Ontario invests in North Bay businesses Ontario invests in North Bay businesses

Vic Fedeli, MPP for Nipissing, announced the funding for seven local businesses in North Bay

Vic Fedeli, MPP for Nipissing, announced the support funds last week at Drillco Mining, which was given C$250,000 for the development of a diamond core drilling rig capable of drilling in reverse.

Premier Mining Products will be expanding its manufacturing of diamond drilling components and varying its market with its C$962,520 in funding. The recipient of C$140,003, Epiroc Canada will be improving its equipment resistance and performance.

Other companies receiving investment monies include Foraco Canada, which will use its C$400,000 to purchase additional drilling equipment to expand its business. With its C$251,277, Miller Technology plans to develop a battery electric vehicle (BEV).

Rounding out the awardees were Twiggs Distribution, which plans to expand storage and processing space, and business software solutions firm FDM4 International for an expansion of its facilities.

In all, the agency said 61 new jobs will be created with the funding assistance.

The Northern Ontario Heritage Fund Corporation has invested more than C$120 million in 708 projects, creating or retaining over 2,368 jobs, since June 2018.