Terry Sheehan, Member of Parliament for Sault Ste. Marie, and Parliamentary Secretary to the Minister of Labour and Seniors, today announced an unconditionally repayable FedNor investment of $47,752 in the Masters Fibre Mill and Alpaca Farm. The announcement was made on behalf of the Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor.
The funds will be used to acquire new machinery and hardware and to receive relevant training, and to upgrade facilities. Specifically, Masters Mill will purchase an automated 3D knitting machine, which will allow the business to expand product offerings, increase revenues, and reach new markets. The equipment will support the creation of products such as knit sweaters, toques, and mitts, making Masters Mill the only company in Canada producing those items using only Canadian fibre.
The FedNor funds announced today are provided through the Targeted Manufacturing Initiative for Northern Ontario (TMINO), which helps existing Northern Ontario manufacturers upgrade and improve capital equipment used in manufacturing processes, including information and communications technology, to improve their competitiveness and productivity.
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“St. Joseph Island is a highlight of Algoma region and attracts visitors from across Northern Ontario. By supporting Masters Mill, these FedNor funds are supporting a local small business, and small businesses support communities. This project will help create new opportunities while serving tourists and customers from near and far.”
-Terry Sheehan, Member of Parliament for Sault Ste. Marie, and Parliamentary secretary to the Minister of Labour and Seniors
“Small business like Masters Fibre Mill and Alpaca Farm in Northen Ontario are essential to the Canadian economy and critical to supporting communities across the country. By investing in small businesses like these, the Government of Canada is building a stronger economy that works for everyone.”
-The Honourable Patty Hajdu, Minister of Indigenous Services and Minister Responsible for FedNor
“The work we do at Masters Fibre Mill and Alpaca Farm is a labour of love. This project will allow us to create farm-to-fashion garments, which will help turn Canadian fibres into 100% designed and made-in-Canada finished products. We are proud to partner with FedNor in growing our business, and look forward to the future opportunities their investment will help create.”
-Lorna Masters, Owner, Masters Fibre Mill and Alpaca Farm
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