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Minister says FedNor significantly stronger

Posted By news release

Posted 4 mins ago

FROM TONY CLEMENT, Minister of Industry, responsible for FedNor: I am writing today to share some good news. The recent federal budget is truly an Economic Action Plan, one that will immediately positively affect the lives of Northern residents.

I am pleased to tell you that FedNor’s presence has been significantly strengthened. As the key driver of economic development in Northern Ontario, our Government looks to FedNor to help us deliver a number of the economic stimulus initiatives announced in last week's Budget.

In particular, FedNor will administer the new Community Adjustment Fund in Northern Ontario. Across Canada, the fund will provide $1 billion over two years to promote the diversification of the local economies. This fund will greatly benefit Northern communities and will help those hardest hit by the recession get back on their feet.

Two of the key measures in Budget 2009 that will benefit Sault Ste. Marie are the Infrastructure Stimulus Fund and the Recreational Infrastructure Canada Initiative. The first will support rehabilitation projects, including bridges and roads, and the second will support construction of new community recreational facilities, and upgrades to existing facilities, including hockey arenas.

I was pleased to see that the $2 billion fund announced to repair and expand facilities at colleges and universities is being welcomed by Ron Common, president of Sault College. I understand that the college has already submitted a building project that would renew about half of its campus.

Taken together, these progressive measures form an Economic Action Plan that works. Our Government, through FedNor, is committed to making immediate, targeted investments that will not only strengthen Northern communities, but will promote long-term growth. Our Economic Action Plan will accomplish this for Sault Ste. Marie, for Northern Ontario and for Canada.