Northern Ontario Heritage Fund Corporation (NOHFC) Holds Board Meeting In Thunder Bay
by Scott A. Sumner
www.thunderbaybusiness.ca
Thunder Bay was the site of a full board meeting of the Northern Ontario Heritage Board recetly where millions of dollars are awarded to up and coming companies. “ We meet every six weeks all across the North. This is Thunder Bay’s turn to have the Northern Ontario
Heritage meeting here. Our largest award today is the partnership with LU and a new company called Warnex the former Molecular World. They are doing some significant work in DNA and commercializing a product that has world wide interest,” said Minister Michael
Gravelle. “ We also announced 5 young entrepreneurs in Thunder Bay whom with out the benefit would probably not be able to open their businesses .
When you bundle it all together it is a lot of job creation. The results are clear, thousands of jobs are being created as a result of the Northern Ontario Heritage Fund. There is a very. very fair and straight forward application process. The applicant will come forward, put an application and then it goes to a sub committee who look at it before going to the board that has 14 or 15 members who all vote on the project. I am proud that the fund can move relatively
quickly. That can be a frustration in the private sector. We are nimble and creative looking at projects. The process has to be rigorous but fair and nimble.”
“ We have a variety of companies today and it is about job creation. We are we seeing more of companies related to the technology movement. Thunder Bay is becoming a world leader in terms of technology. They must have a good business plan and their own support as well. What excites me is seeing the different types of businesses in Northern Ontario as a result of the NOHFC that are moving forward and providing a transformed and new economy in
Northern Ontario.”
Dr Angelo and Carla Santin from Thunder Bay and Hamilton and went to the Canadian Chiropractic College. “ We opened our office on Algoma Street. This program gave us the edge in our start up with furniture equipment and so on. We started the application process 10 months ago. It was a really easy process. We started our careers here as a junior associate for a few years at another office. Most people have $150,000 to $175,000 spent at school so the program really helps. We are doing very well now. The city has been good to us. Our office is at a great location.It is really easy access on Memorial which become Algoma. We are with other professionals. The money has allowed us to start from scratch and pay for basic expenses. We shopped local and have hired 1 staff and will hire another soon as well as attracting a new Chiropractor.”
“ The NOHFC is one of our governments key tools in developing the North. I am proud of the work we have done to support private sector growth. Since 2003 we have 472 million dollars,” said Bill Mauro, MPP.“ This is a program we are very proud of creating jobs in the program with $80 million a year up from $60 million. We have the world class OPP Centre and now the DNA labs which can collaborate. We are happy about the diversification of the high technology market in Thunder Bay.”
McGuinty Government Supports Nine New Business Ventures
A DNA collection project for forensic testing is one of nine new business initiatives that will create jobs and strengthen the Thunder Bay economy.
With assistance from the Northern Ontario Heritage Fund Corporation (NOHFC), Lakehead University and Warnex PRO-DNA Services are developing the MitoNorth Database. The database will be used by law enforcement and legal professionals to prevent individuals from being falsely accused and help prosecute criminals.
The NOHFC is also helping three other businesses expand their operations:
• Cinevate Inc. is receiving $46,350 to add new products for the
digital photography and video market;
• Digital Coaching Systems is receiving $35,000 to expand its web- based digital coaching database tool for athletes, coaches and sports organizations;
• Ride Concepts Inc. is receiving $15,000 to develop a shock absorption system for motor cross motorcycles.
In addition, the NOHFC is providing $25,000 each to help five young
entrepreneurs launch the following new ventures:
• Radiant Being Wellness Centre is a business that provides yoga \classes, reiki massage, a sauna and chi machine treatments. The project will create one full time and two part time jobs;
• Santin Chiropractic is a new practice that will create three full time and one part time jobs;
• Renner-VFX is a business coordinating visual effects for films and commercials produced in the Thunder Bay area;
• Stellar Music Productions is a disc jockey business that will create five jobs;
• L.S.L. Construction is a general contracting company serving both residential and commercial clients. The project is creating one job immediately.
QUOTES
“Northern Ontario has a wealth of talented and resourceful people and our government is committed to supporting them as they take on the exciting challenges of transforming their knowledge and skills into viable businesses.”
- Michael Gravelle, Minister of Northern Development, Mines and
Forestry and Chair of the NOHFC
“Our investments are helping budding entrepreneurs build careers and families close to home while creating significant new job opportunities in the Thunder Bay area. These jobs also represent the continuing evolution and diversification of the Thunder Bay
economy."
- Bill Mauro, MPP for Thunder Bay-Atikokan.
QUICK FACTS
• The NOHFC is providing a total of $897,450 for these nine
projects, including $676,100 for the MitoNorth Database.
• Since 2003, the NOHFC has invested nearly $472 million in more
than 2,700 northern projects leveraging an additional $1.5 billion
from project partners.
• Since 2005, the NOHFC has invested more than $6.2 million to
help launch the businesses of nearly 280 young entrepreneurs in the
North.
LEARN MORE
• Read about the Emerging Technology Program, which helps develop
exciting and viable new technologies that will contribute to future
northern prosperity.
• Read about the Young Entrepreneur Program, which provides up to
$25,000 to northern residents aged 18 to 29 to start their own for-
profit business in the North.
