On the Water Designs gets $85,000 more in FedNor money – as ‘loan’
GRAVENHURST — A Kilworthy docking business has received more money from FedNor.
On the Water Designs has received $85,000 — a repayable loan.
It is at least the second time the company on Hwy. 11 at the south end of Gravenhurst has been the beneficiary of federal support.
MP Tony Clement, Member of Parliament for Parry Sound–Muskoka, on behalf of the Greg Rickford, Canada’s Minister of Natural Resources and Minister for the Federal Economic Development Initiative for Northern Ontario (FedNor), Friday announced an investment that will help a local small business innovate, grow and create jobs.
“A repayable FedNor contribution of $85,000 will assist On the Water Designs with product prototype design and related improvements to its manufacturing process to broaden its product offerings increase its productivity and help the Kilworthy-based business expand into new markets,” says a release from Clement’s office.
“Small business is the backbone of the Canadian economy and I am proud of our Government’s investment to support the research and development activities of a local manufacturer. This funding will enable the company to tap into new markets and access new distributors, creating and maintaining jobs here in Northern Ontario,” said Clement.
David MacDonald, president of On the Water Designs, said: “Thanks to the assistance of FedNor and the federal government, we are redesigning our manufacturing layout, developing new product lines and realizing efficiencies in our manufacturing process. We are excited about these changes that will position our company for future growth.”
Located in Kilworthy, On the Water Designs is a manufacturer, distributor and retailer of aluminum dock and docking solutions.
The Harper Government investment announced today is provided through FedNor’s Northern Ontario Development Program, which supports projects that promote sustainable community economic development, enhance business development and growth, and facilitate innovation throughout the region.
Since 2006, through FedNor’s Northern Ontario Development Program, the Harper Government has invested more than $308 million in support of 1,500 projects. These investments have created more than 15,000 jobs throughout Northern Ontario.
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