Province encourages companies to go global.

• Author: Ross, Ian
• Position: Brief Article

Funding pool set up to help small companies develop export marketing opportunities and attract investment

The Ontario government is investing in a three-way partnership to train and encourage eight Sudbury and area mining companies to go international.

In conjunction with the Sudbury Regional Development Corp. and the Canadian Association of Mining Equipment and Services For Export, the province is kicking in $65,000 from its Prosperity Demonstration Fund towards a $140,000 pool set up to allow eight small to medium-sized companies to develop export marketing opportunities and attract investment, says Ministry of Northern Development and Mines (MNDM) spokesperson Natalie Dumont.

"The whole point of the program is to enhance the companies' ability to attract investment and export goods using high-tech advantages such as the Internet and video conferencing, to teach them how to get into the 21st century with their business," Dumont says.

The MNDM has worked with local agencies to bring the project to fruition. The fund is administered by the Ministry of Economic Development and Trade (MEDT), the lead agency behind this initiative.

Only small to medium-sized companies will receive this training. These companies are then going to be able to train other companies, and "it's going to radiate throughout the North; it's not just going to be Sudbury that's going to benefit," Dumont says.

The program originated as a follow-up to the government's Road Map to Prosperity report where a variety of initiatives were considered and recommended to support new, local and innovative growth firms.

"The fund was set up to support local organizations that provide certain strategic goals towards the...