$422,500 FedNor Funding Granted to Parry Sound-Muskoka Businesses

$422,500 FedNor Funding Granted to Parry Sound-Muskoka Businesses

Posted: 2021-02-09 11:48:41 By: jacob

Terry Sheehan, Parliamentary Secretary to the Minister of Economic Development announced this afternoon funding to boost business growth and the creation of well-paying jobs in the Parry Sound-Muskoka region.

The announcement details FedNor’s contribution of $422,500 to support two strategic Parry sound/Muskoka initiatives.

The bulk of the funding will be received by Muskoka Timber Mills Ltd. With a repayable contribution of $400,000 to purchase new equipment and upgrade its operations. While the remaining $22,500 will be used by the Westwind Forest Stewardship to determine how to best utilize untapped forest resources in the region of Britt, Ontario.

Rick Singer President and owner of Muskoka Timber Mills based in Bracebridge, talked about improvements to the mill’s productivity and growth; including a larger planer to increase the size of timber planed as well noted that the company would be able to acquire not the original estimate on the funding application of 7, but 8 new positions in the company.

The parliamentary Secretary ended off the announcement by saying that

“Today's announcement is further proof of the government of Canada's commitment to help small and medium-sized businesses develop and grow.”