A local program that has provided direct support and helped over 100 businesses in Nipissing-Timiskaming and Parry Sound-Muskoka create and maintain over 90 jobs is getting more funding.

MP Anthony Rota announced $460,000 from FedNor for phase three of Innovation Initiatives Ontario North’s Step Forward Entrepreneurs Program.

Rota says qualifying businesses will be provided with upwards of $10,000 dollars from the program.

“The funding goes to helping them determine who their market is, what they should concentrate within, how they should be hiring. What it does is allow them to grow faster and grow in a better direction,” he said.

Specifically, the money will be used to enhance and expand operations, commercialize new products, do market research and capitalize on export opportunities.

IION Executive Director Rob Deline says out of 17 regional innovation networks they’re probably the smallest in Ontario, but that’s certainly not indicative of the success of the program.

“We’re not the last in terms of our ability to work with companies that are creating jobs, we’re certainly in the middle range. We think we kick above our size and it’s only because we’re able to work with such outstanding companies.”

The initiative has also helped to create six new businesses and assisted another 25 firms with expansion or modernization.

Also at today’s announcement, Lofthouse Forging & Machining received this year’s IION Innovation Award.

IMG_4469