The federal government is providing $1.7 million to help small and medium-sized enterprises in northern Ontario adapt to shifting global market conditions and new tariffs. Sault Ste. Marie–Algoma MP Terry Sheehan announced the funding for the Sault Ste. Marie Innovation Centre on Wednesday. The investment is designed to enhance digital advancement, technology adoption and competitiveness among local businesses. “Here in Sault Ste. Marie and across Algoma, we know how deeply global changes – like new tariffs – can affect local jobs and industries,” said Sheehan in a news release. The funding is sourced from FedNor’s Regional Economic Growth through Innovation program. Of the money, $953,000 is allocated to the local innovation centre’s Innovation Acceleration Program, which provides training and contributions for digital advancement. This will allow the centre to offer up to $25,000 for individual business projects and foster the entrepreneurial community through workshops and networking events. A further $754,000 is dedicated to boosting the competitiveness and productivity of small and medium enterprises through strategic artificial intelligence training and technology adoption. This program will guide companies to integrate AI to implement new efficiencies and augment routine tasks. Tariff response Sheehan also announced the launch of the Regional Tariff Response Initiative in the area, a national $1 billion program over three years that eligible businesses can apply to through FedNor. The initiative is part of the Government of Canada’s new suite of trade resilience measures. The initiative is designed to help boost productivity, diversify markets, strengthen supply chains and grow domestic trade. “The Regional Tariff Response Initiative is about giving our businesses the support they need to adapt, expand and keep people working right here at home,” Sheehan said. The announcement follows a separate federal commitment last month of up to $400 million for Algoma Steel through the Large Enterprise Tariff Loan facility, another tariff response measure. Local leaders welcome support Local officials welcomed the new funding, highlighting its importance for the regional economy amidst uncertainty. “Thanks to FedNor’s support, we are proud to say that we will continue supporting businesses in the Sault Ste. Marie area and across northern Ontario in innovating, adopting new technologies, and continuing to grow,” said Sandra Moore, the Sault Ste. Marie Innovation Centre’s executive director. Sault Mayor Matthew Shoemaker also expressed gratitude for the financial aid for the region. “The city is grateful for this support of the innovation centre as we continue to deal with the economic uncertainty resulting from the impact of the tariffs,” Shoemaker said. “Ongoing federal engagement will be critical as we work together to strengthen our economy and protect local jobs.” Federal government officials said these measures are intended to equip northern Ontario with the tools needed to build a stronger, more resilient economy. RELATED STORIES:
