Over $1.8 Million to Foster Businesses Innovation and Expansion in the NorthDecember 16, 2022
Provincial investment supporting the development of new technologies and job creation
NORTH BAY – Vic Fedeli, MPP for Nipissing announced that the Ontario government is investing $1,895,595 through the Northern Ontario Heritage Fund Corporation (NOHFC) to three companies in the Nipissing region to support business expansion and the research, development and commercialization of new and innovative technologies. This investment will help create jobs, diversify product and service offerings, and boost economic growth in the northeast.
“Our government continues to foster a strong future in the North by supporting economic growth and job creation,” said Vic Fedeli, MPP for Nipissing. “These businesses play a critical role in the northern economy, supporting the community and contributing to the province’s prosperity as a whole.”
NOHFC recipients include the following:
- Wrmth designs and manufactures heated outdoor furniture. The company will invest $3.6 million to commercialize its flagship product – the smart muskoka chair – and develop software to allow users to control the chair using a mobile device. Wrmth has received $1,344,493 in NOHFC funding.
- One Red Maple Inc. designed a browser extension people can download onto their smartphone, tablet or computer that lets them quickly search, locate and buy products from locally owned stores instead of from larger big-box retailers and online corporations. The company will invest over $1.8 million and has received $483,495 in NOHFC funding to enhance this web-based technology.
- Cuna Railway Innovation Inc. provides railway services such as inspection, maintenance and snow clearing. The company will invest over $370,000 with an injection of $67,607 in NOHFC funding to purchase specialized equipment and train staff to expand its range of services.
“Wrmth has chosen North Bay, because the opportunity for building competitive onshore manufacturing is in Ontario’s north. Manufacturing here means bringing innovation, new intellectual property and adding high value jobs.” – Sally Daub and John Pomeroy, Co-Founders, Wrmth.
“One Red Maple is a new business that is giving independent retailers the tools to compete against large online corporations and big box stores. Our browser extension compares what you are looking at on a web page such as Amazon’s and looks for local matches and redirects you to the local store to make the purchase, while our mobile app allows you to search the local database of products. Local shopping has never been easier. Thanks to the funding available through NOHFC One Red Maple has now launched in North Bay, Sudbury, and Kingston as our test markets.” – Mark Sherry, President of One Red Maple.
“CUNA appreciates the support from the province with our ongoing growth strategy. We are using the funding in order to strengthen our asset base and in turn our position in our industry,” – Alex McCulloch, President – CUNA Railway Innovation Inc.
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 $578 million in 4,935 projects in Northern Ontario, leveraging more than $1.87 billion in investment and creating or sustaining over 7,870 jobs.
- In 2021, the Ontario government launched new and improved NOHFC programs that support more projects in rural northern communities and make it easier for more people and businesses to apply. The programs target existing and emerging markets, provide more work opportunities for Indigenous people and address the skilled labour shortage in the North.
- The NOHFC, Northern Development Offices and Small Business Enterprise Centres are available to support northern communities, businesses and other stakeholders in identifying economic development opportunities and assist in accessing government funding programs.
- The NOHFC’s Invest North Program is designed to boost economic growth and attract more investment by supporting business development, expansion and innovation.