FedNor invests $422,500 to support Parry Sound-Muskoka, Ont. forestry initiatives
The federal government, through the Federal Economic Development Initiative for Northern Ontario (FedNor), has announced it is investing $422,500 to help two forestry initiatives.
As part of this funding, $400,000 will go to Muskoka Timber Mills Ltd., to purchase new equipment and upgrade its operations. Westwind Forest Stewardship will use the remaining $22,500 to decide how to utilize untapped forest resources in the Britt, Ont., region.
The funding will result in the creation of seven new jobs and help maintain seven others.
“We would like to thank the Government of Canada and FedNor for their tremendous support that has enabled our company to acquire innovative equipment and implement new technologies and processes that will set us on a course for growth, increased productivity and sales,” said Ric Singor, president and owner, Muskoka Timber Mills, in a statement.
“Thanks to FedNor support, we are excited about exploring identified opportunities associated with low-end wood fibre in our region that could lead to the development of potential niche businesses with area communities and First Nations. Ultimately, we are seeking to help diversify the regional economy and create jobs for local residents,” added Steve Munro, manager, Westwind Forest Stewardship.