News

$56,000 to Drive Economic Growth in North Bay

NORTH BAY – Vic Fedeli, MPP for Nipissing announced that the Ontario government is investing $56,000 in Rural Economic Development Program (RED) funding to the City of North Bay to support the attraction of entrepreneurship through their Newcomer Entrepreneur Program.

“Funding through the recent intake of the RED program supports projects that diversify and grow local economies, build community capacity and address barriers to economic development and labour force challenges,” said MPP Vic Fedeli. “The RED program is a demonstration of our government’s dedication to rural Ontario, as well as an example of how we are ensuring that the right tools and programming are in place to support continued growth and prosperity in rural, small towns and Indigenous communities.”

“This funding will help create an environment where newcomers to North Bay can succeed and thrive. Our Economic Development Department is pleased to be partnering with local organizations, including the North Bay & District Chamber of Commerce and Multicultural Centre along with The Business Centre Nipissing Parry Sound in developing Newcomer Entrepreneurship Programming,” said Mayor Peter Chirico. “I would like to thank MPP Fedeli and the Ontario government for their ongoing support through initiatives like the Rural Economic Development Program.” 

The RED program provides cost-share funding support towards activities that create strong rural communities. This includes funding assistance to build local capacity and improve job prospects. The program aligns with the government’s priorities of removing barriers to investment, opening doors to rural economic development, and creating good jobs across the province.

QUICK FACTS

• The latest intake of the RED program closed on February 21, 2024.
• Since 2019, the RED program has committed more than $27.4 million to fund 473 projects that are helping to attract investment, create jobs, and boost economic development in rural communities across the province.
• The Ontario government is holding public consultations that will ultimately inform the development of the new Rural Economic Development Strategy. Please visit our website to have your say.