Small and medium-sized enterprises (SMEs) are the backbone of Canada’s economy. In a rapidly changing world, SMEs must grow, adapt, and lead. This is how we build a stronger, more resilient Canada and that work starts right here at home.
Today, Terry Sheehan, Member of Parliament for Sault Ste. Marie-Algoma, announced that the Sault Ste. Marie Innovation Centre would be receiving $953,000 from FedNor's Regional Economic Growth through Innovation program, toward the Innovation Acceleration Program, which provides training and contributions to regional businesses for digital advancement and technology adoption. This funding will allow the SSMIC to offer up to $25,000 for projects, and foster the entrepreneurial community through workshops, networking events, and leveraging their strong regional partnerships.
They also received a further $754,000 to boost competitiveness and productivity of small and medium enterprises through strategic artificial intelligence training and technology adoption. This program will allow companies to implement new efficiencies and augment routine tasks. Through hands-on training, dedicated mentorship, and direct funding, the SSMIC will guide companies to integrate AI, boosting productivity and global competitiveness.
Sheehan also announced the Regional Tariff Response Initiative, which eligible business can apply to through FedNor. The RTRI is a national investment of $1 billion over three years as part of the Government of Canada’s suite of trade resilience measures, which are designed to help businesses respond, adapt, and compete amid shifting market conditions. The RTRI will help boost productivity, diversify markets, strengthen supply chains, and grow domestic trade, helping businesses stay competitive and resilient.
Today’s announcement follows the announcement last month which saw Algoma Steel receive up to $400 million in federal assistance – through the federal Large Enterprise Tariff Loan facility, another tariff response measure – to continue operations, transition to a business model less reliant on the United States, and limit disruption to its workforce.
With economic uncertainty putting pressure on businesses and workers, Canada is acting now. These measures will equip Northern Ontario with the tools it needs to build Canada strong.
QUOTES
“Here in Sault Ste. Marie and across Algoma, we know how deeply global changes—like new tariffs—can affect local jobs and industries. 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. Partners like the Sault Ste. Marie Innovation Centre help local companies strengthen their roots, explore new markets, and build lasting partnerships. This helps our entire region grow—creating opportunity for our families, our workers, and our communities for years to come.”
—Terry Sheehan, Member of Parliament for Sault Ste. Marie-Algoma
“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. By helping to keep the region’s enterprises on the cutting edge, we are supporting entrepreneurs and innovators to not just succeed, but to continue reaching new markets with new products.”
— Sandra Moore, Executive Director, Sault Ste. Marie Innovation Centre
“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. Ongoing federal engagement will be critical as we work together to strengthen our economy and protect local jobs. Together, we can ensure that Sault Ste. Marie continues to move forward as a strong and competitive community.”
— Matthew Shoemaker, Mayor of Sault Ste. Marie
QUICK FACTS
- The FedNor funding announced today is provided through the Regional Economic Growth Through Innovation Fund (REGI), which supports the growth of Northern Ontario businesses, their expansion into new markets, and their adoption of new technologies and processes.
- The RTRI is part of a broad set of tariff support measures, including the Large Enterprise Tariff Loan Facility, the Business Development Bank of Canada’s Pivot to Grow initiative, and support for trade-exposed sectors through the Strategic Response Fund.
- The Regional Tariff Response Initiative will enable businesses to open doors to new markets, boost productivity, and strengthen domestic supply chains. Visit FedNor’s website to learn more.
- Delivered through Canada’s regional development agencies, the Regional Tariff Response Initiative is a national initiative that will enable businesses to offset the impacts of tariffs and adapt to longer-term trade volatility by opening doors to new markets, boosting productivity, reducing costs, and strengthening domestic supply chains.
- In Northern Ontario, FedNor is working closely with federal, provincial, and territorial partners to respond to the unique needs of the region and build one strong Canadian economy.
- The Government of Canada has a comprehensive plan to fight back against U.S. tariffs, while supporting Canada's interests, industries, and workers. Other measures backed by the Government in Canada to enhance trade resilience include:
- A reskilling package to train workers: The government will invest an additional $450 million over the next three years under the Labour Market Development Agreements. In partnership with provinces and territories, this investment will provide training programs for workers impacted by tariffs and global market shifts.
- Employment Insurance temporary measures: The Government will extend measures until April 11, 2026, to ensure income stability for workers, particularly those who are most vulnerable to income shocks. This includes:
- Waiving the one-week EI waiting period to support an additional 700,000 EI claimants.
- Investing $1.6B over five years to temporarily give 20 extra weeks of income support, up to a maximum of 65 weeks to support nearly 190,000 long-tenured workers (LTWs).
- Workforce Alliances and Sectoral Workforce Innovation Fund: The Government will invest $382 million over five years to tackle urgent labour market challenges, bring together government, employers, unions, and industry organizations to develop and implement tailored workforce development strategies, and drive growth.
- A new Buy Canadian Policy: The Government will introduce a new policy to ensure the federal government buys from Canadian suppliers, require local content when domestic suppliers are unavailable, extend this approach to all federal funding streams and Crown corporations, and provide a roadmap for provinces and municipalities to apply similar standards to their own procurement.
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