New focus of Northern Ontario Heritage Fund Corporation will protect jobs, companies
and communities in Northern Ontario from U.S. tariffs
News June 17, 2025
TIMMINS — The Ontario government recognizes the current turbulent landscape resulting
from U.S. tariffs and related U.S. trade policies, and the significant uncertainty for Northern
Ontario’s workers and businesses. To protect Northern Ontario’s economy today and into
the future, the government is refocusing the Northern Ontario Heritage Fund Corporation
(NOHFC) to prioritize investments that protect northern industries and jobs, mitigate the
impacts of trade disruptions and secure new opportunities for the long-term prosperity of
the northern economy.
“To build an economy that is stronger, more competitive and self-reliant, our government
is refocusing our investment priorities,” said George Pirie, Minister of Northern Economic
Development and Growth. “The NOHFC’s new focus will help keep workers on the job and
create more opportunities for businesses in Northern Ontario to thrive and grow in the face
of U.S. tariffs.”
Starting immediately, the NOHFC will support projects that strengthen the economy and
help sectors and communities respond to economic challenges in the face of U.S. tariffs.
This new direction for the NOHFC will include focusing investments on projects that
respond rapidly to emerging issues in sectors and communities impacted by U.S. tariffs.
Funding will also focus on supporting economic growth, innovation and creating and
maintaining jobs in Northern Ontario for the long-term.
These measures will help the NOHFC to further serve as a catalyst for growth and
development in Northern Ontario with a renewed focus on driving prosperity, boosting
competitiveness, securing new opportunities and ensuring the region remains a leader in
Ontario’s economy.
This new direction is in addition to the government’s recently announced investment of an
additional $30 million over the next three years, bringing the NOHFC’s annual budget to a
total of $110 million. Together, these initiatives will benefit communities of all sizes, both
rural and urban, including Indigenous communities.
Quick Facts
• Through its funding programs, the NOHFC offers support to public and private sector
economic development projects across Northern Ontario.
• Since June 2018, the NOHFC has invested more than $905 million in 7,309 projects in
Northern Ontario, leveraging more than $2.8 billion in investment and creating or sustaining
over 11,210 jobs.
•At the NOHFC Board of Directors meeting in Timmins on June 17, 2025, 79 projects were
approved to receive NOHFC funding support.
Additional Resources
• The NOHFC, Northern Development Offices and Small Business Enterprise Centres support
northern communities, businesses and other stakeholders in identifying economic development
opportunities and government funding programs.
Media Contact news.ontario.ca/MNEDG/en
Sam McCormick, Minister’s Office Disponible en français
Sam.McCormick@ontario.ca
Media Desk, Communications Branch
mediadesk.MNEDG@ontario.ca
