A FedNor investment of $1,600,000 will support the ongoing operations of the Nord-Aski Regional Economic Development Corporation for a five-year period. Specifically, the FedNor support will enable this not-for profit, business-focused organization to support community economic development in the region, and provide small and medium-sized enterprises with access to capital and business counselling services.
The Nord-Aski Regional Economic Development Corporation is one of 24 Community Futures Development Corporations funded by FedNor to serve Northern Ontario businesses and communities. It plays a vital role in promoting economic growth in four Northeastern Ontario municipalities along Highways 11 and 631. The four communities are: Constance Lake First Nation, Hearst and vicinity, Hornepayne, and Mattice-Val Côté.
Corporation of the Town of Hearst
$135,487
The Corporation of the Town of Hearst will receive $135,487 in FedNor funding to extend the municipal water distribution system to supply municipally treated water to the new $5 million Pepco fuel distribution centre. The system will supply potable drinking water and bring a pressured water supply for fire protection and suppression purposes.
Hearst Economic Development Corporation
$112,477
The Hearst Economic Development Corporation (HEDC) will receive $112,477 to support two economic development initiatives. Of the total, $63,000 is being used to hire a youth intern for a period of two years to implement a sports tourism strategy that was developed last year with the help of FedNor assistance. The remaining funds are helping support an entrepreneurial program for Francophone businesses in Hearst and Kapuskasing, "ADN d'un Employeur de Choix" (DNA of Choice Employers).
Université de Hearst
$31,500
FedNor funding of $31,500 will assist the Université de Hearst, to hire a youth intern for a one-year period. The intern will assess industry, employee and individual needs, and then prepare a feasibility analysis to establish a vocational assessment centre for the region.
Novo Peak Health Inc.
$22,000
A FedNor investment of $22,000 will enable Novo Peak Health Inc., a private sector business in Hearst, to hire a youth intern for one year. The intern will apply new technologies for video assessments of physiotherapy clients, determine related methodology, identify processes that work and provide suggestions on how to improve the technology.
Since its inception, FedNor has helped provide more than 1450 young post-secondary graduates with their crucial first job, and assisted countless local organizations and businesses in growing the economy by helping them access a qualified and talented workforce.