The Ontario government is providing more than $2.2 million to help five local companies purchase new equipment and expand operations in Timmins. This investment will help support job creation and economic growth and development in Northern Ontario.
“Supporting local companies as they grow their operations helps to create jobs and keep the North competitive,” said Greg Rickford, Minister of Northern Development, Mines, Natural Resources and Forestry. “These investments have real, tangible positive effects for local business. With this funding, local companies can thrive, leading to economic prosperity and providing opportunities for northerners.”
The following funding is being delivered through the Northern Ontario Heritage Fund Corporation (NOHFC):
- $1 million for Timmins Mechanical Solutions Inc. – a heavy equipment repair and maintenance services company – to build a second workshop
- $400,000 for The Bucket Shop Inc. – a heavy equipment manufacturing and refurbishing business – to build a second workshop, upgrade the existing workshop and purchase equipment
- $345,207 for Steelworks Inc. – a structural steel fabrication and installation business – to build an additional workshop and purchase equipment
- $321,380 for DeBastos & Sons Ltd. – a large-scale logging contracting company – to purchase equipment
- $159,418 for Diversified Forestry Inc. – a land clearing services company – to purchase equipment
The NOHFC promotes economic prosperity across Northern Ontario by providing financial assistance to projects—big and small, rural and urban—that stimulate growth, job creation and skills development. Since June 2018, the NOHFC has invested more than $414 million in 3,934 projects in Northern Ontario, leveraging more than $1.4 billion in investment and creating or sustaining over 6,000 jobs.