Ontario Construction News staff writer
The Ontario government is shifting the focus of the Northern Ontario Heritage Fund Corporation (NOHFC) to prioritize economic resilience in response to growing trade pressures and to better protect jobs and industries in the North.
Effective immediately, funding will be directed toward initiatives that promote innovation, job creation and economic development, particularly in communities affected by trade disruptions. The government said the NOHFC will prioritize rapid-response investments in key sectors, aiming to boost competitiveness and ensure Northern Ontario remains a central part of the provincial economy.
The retooled funding strategy, announced Thursday, will see the NOHFC support projects that help sectors and communities mitigate the impacts of U.S. tariffs, adapt to economic challenges, and seize new opportunities for long-term growth.
“To build an economy that is stronger, more competitive and self-reliant, our government is refocussing our investment priorities,” said George Pirie, Minister of Northern Economic Development and Growth. “The NOHFC’s new focus will help keep workers on the job and create more opportunities for businesses in Northern Ontario to thrive and grow in the face of U.S. tariffs.”
The policy shift builds on a recent funding increase, with the province committing an additional $30 million over three years. The NOHFC’s annual budget now stands at $110 million.
NOHFC also announced more than $1.6 million for projects in Timmins, Haileybury and Iroquois Falls, including:
- The Bucket Shop Inc. will receive $400,000 to purchase and upgrade equipment
- Superior Grading will receive $400,000 to purchase of a new building
- Kilmarnock Enterprise will receive $383,949 to redevelop a recently purchased facility, add new welding and machining equipment
- Caron Equipment Inc. will receive $343,825 fornew equipment to support mining activity
- The Town of Iroquois Falls will receive $125,916 to enhance Iroquois Falls Airport infrastructure