The Federal Economic Development Agency for Southern Ontario (FedDev Ontario) has invested over $190 million in 2023 to bolster more than 70 businesses and organizations across southern Ontario, safeguarding an estimated 4,000 jobs. Among these investments, over $33 million were allocated to 11 projects in Ottawa, Peterborough, Kingston, and nearby areas, resulting in the creation and maintenance of approximately 160 jobs.
Highlighting the Government of Canada’s commitment to fostering economic growth and job creation, the Honourable Filomena Tassi, Minister responsible for FedDev Ontario, stated, “Over the past year, our government has made it our priority to support businesses and workers in southern Ontario so they can grow and succeed. This year, across Eastern Ontario, more than $33 million in FedDev Ontario investments have been made to support 11 projects, which have created and maintained an estimated 160+ jobs in Ottawa, Peterborough, Kingston and surrounding regions. We know that people are our strength. We will continue to make strategic investments that will lead to economic growth by supporting our great entrepreneurs.”
In addition to supporting urban areas, the government has focused on empowering rural businesses. Minister Tassi announced nearly $40 million in funding for southern Ontario’s network of Community Futures Development Corporations (CFDCs) during a visit to Brasserie Tuque de Broue Brewery Inc. in Embrun. The 36 CFDCs and three associations in the region are crucial in driving local economic development, providing strategic planning, business counseling, and access to capital.
Since 2015, FedDev Ontario has invested over $310 million in more than 325 projects in Ottawa, Peterborough, Kingston and surrounding areas, estimated to create and maintain more than 20,000 jobs.
In Ottawa, a substantial investment exceeding $4 million for the Children’s Hospital of Eastern Ontario Research Institute (CHEO RI), in collaboration with Bruyère, is establishing the 8-80 Collaborative. This initiative connects Eastern Ontario’s health professionals and early-stage innovations with companies offering health solutions, benefiting patients ranging from youth to older adults.
Vars-based Les Ateliers Beau-Roc (Beau-Roc), a woman-led, Francophone manufacturer, received a $4.1 million investment from FedDev Ontario. This funding enabled the expansion of their energy-efficient facility and the purchase of new manufacturing equipment, cutting lead times in half and creating 30 new skilled jobs in the region.
Bryan May, Parliamentary Secretary to the Minister of Small Business and to the Minister responsible for FedDev Ontario, emphasized the impact of these investments: “This past year, FedDev Ontario has showcased the talent, innovation and potential that southern Ontario has to offer. With the critical support that has been delivered to many businesses, entrepreneurs and organizations in the many towns and cities in this region, we have helped to create jobs, grow businesses and helped companies thrive, while strengthening our economy for Canadians.”
FedDev Ontario is dedicated to supporting inclusive economic growth in the region, investing over $60 million in 35 projects led by underrepresented groups, anticipated to create and maintain more than 1,400 jobs in 2023. This focus on underrepresented groups aligns with the Government of Canada’s priority of building a diverse, robust economy and a prosperous future for all Canadians.
The Agency has also launched a user-friendly application process for funding and dedicated resources for guiding Indigenous-owned businesses and organizations. Furthermore, the Tourism Growth Program in southern Ontario is now accepting applications for developing local tourism products and experiences, with the first round open until February 29, 2024, and a second round scheduled for the summer.
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