Province makes $2.3M investment in area economy
This Drillco truck will be used in West Africa. (Kortney Kenney, MyWestNipissingNow.com staff)
With a sizable portion of the population of West Nipissing commuting to work in North Bay, this funding announcement has an effect on local residents and their families.
The Ontario government has announced, through the Northern Ontario Heritage Fund, funding for some local North Bay businesses that will help strengthen their foothold on the world stage.
“This is making Ontario open for business, open for jobs.” Nipissing MPP Vic Fedeli stated. “The Northern Ontario Heritage Fund is doing exactly what it was supposed to do. It is helping these businesses, many of which would not be able to expand without this. We are creating 61 new jobs today, a 2.3 million dollar investment into the North Bay economy with half a dozen or more companies.”
The companies receiving the funding include Drillco, Premier Mining Products, Foraco Canada, Miller Technology, Epiroc Canada, FDM4 International, and Twiggs Distributing.
“These businesses have all applied (to the NOHFC), they’ve made a business case, and they’ve shown the province of Ontario that with this additional money to grow their business, they will be able to expand and hire people, and keep those people on permanently after the funding has helped them get started. We’re terribly proud of these companies,” Fedeli added.
“These North Bay companies have risen to the challenge. A vehicle from Miller is on its way to Australia, the vehicles from Drillco are on their way to Mexico and West Africa. This is exciting to see in North Bay. This is wonderfully exciting to see right here in North Bay. These products were designed here, built here, sourced all their parts here and now shipped worldwide.”
Here is the complete rundown of funding:
- $962,520 for Premier Mining Products Inc. to expand its manufacturing operation of diamond drilling components and diversify its market.
- $400,000 for Foraco Canada Ltd to purchase additional drilling equipment to expand its business.
- $347,238 for Twiggs Distribution (Twiggs Coffee Roasters) to expand its storage and processing space.
- $251,277 for Miller Technology Inc. to develop a battery electric vehicle (BEV) to replace the diesel vehicles currently used in most mines.
- $140,003 for Epiroc Canada to improve the resistance and performance of its mining equipment
- $41,830 for FDM4 International Inc., a business software solutions company that targets the fashion apparel industry, to expand its facilities.
- $250,000 for Drillco to develop a diamond core drilling rig that can drill in reverse circulation, resulting in potential cost savings for the mining industry.