The Northern Ontario Heritage Fund Corporation (NOHFC) is adjusting its priorities to better serve northern Ontario.
The provincial government is making changes to the organization’s direction to prioritize investments that protect northern industries and jobs.
The hope is that this will lessen the impacts of trade disruptions and secure new opportunities for long-term growth.
This comes as a response to U.S tariffs and trade policies.
“To build an economy that is stronger, more competitive and self-reliant, our government is refocusing our investment priorities,” said the Minister of Northern Economic Development and Growth, George Pirie. “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.”
Moving forward, the NOHFC will be supporting projects that strengthen local economies and help sectors and communities respond to economic challenges caused by tariffs.
Funding will also focus on supporting economic growth and creating and maintaining jobs in the region long-term.
The NOHFC is also receiving an additional $30 million in funding over the next three years.
