Ontario Gives More Funding Support to Elliot Lake’s Economic Recovery After Algo Centre Mall Collapse

On hand for the Ontario funding announcement were, from left: Joyce Cyr, President of the Elliot Lake Chamber of Commerce, William Elliott, General Manager of ELNOS, the Elliot Lake and North Shore Corporation for Business Development, Mayor Rick Hamilton, Northern Development and Mines Minister and NOHFC Chair Rick Bartolucci, and local NOHFC board member Marielle Brown.

This is an update to my previous blogs:

After Algo Centre Mall Collapse: Ontario Funds Recovery of Businesses Starting July 9, 2012

Elliot Lake’s Essential Services: To Be Maintained by All Governments July 2012

Rescue Efforts Enhanced Via Deployment of Extra Specialized Resources to Collapsed Algo Centre Mall

City of Toronto Sent Emergency HUSAR Task Force to Elliot Lake on June 23, 2012

After the tragic Algo Centre Mall Collapse in Elliot Lake, Ontario, Canada:

32 mall tenants were displaced by the collapse

the mall represented 60 per cent of all available retail space in Elliot Lake

In addition to the fund of $264,050 in a community adjustment agreement, Ontario is giving more funding support to the City of Elliot Lake to sustain local businesses and protect jobs for the residents via the following two types of funding:

Northern Ontario Heritage Fund Corporation (NOHFC):
- is a two-year, $2-million business continuity fund for the City of Elliot Lake, which will
  - help affected businesses re-open in temporary locations
  - put mall employees back to work as quickly as possible
  - also support priority economic development projects
  - help impacted businesses find permanent homes
- is supporting this initiative through its Infrastructure and Community Development Program
  - its funds will not support loss of business revenues or employment income
  - financial institutions, government and service agency offices are ineligible

The city and its economic development partners will also receive another $50,000 to:
- support mid- to long-term initiatives that will create jobs
- grow the business community
- strengthen the economy

Furthermore, Ontario is setting up a temporary provincial economic revitalization office in Elliot Lake:

Toward the goal of Elliot Lake’s economic recovery, staff from the Ministry of Northern Development and Mines will work closely with:
- other provincial ministries
- the municipality
- local businesses
- other stakeholders

The provincial economic revitalization office is located in the ServiceOntario Centre on Hillside Drive North.

Ontario, Canada: Newsroom

Economic Support on the Way for Elliot Lake

July 11, 2012

McGuinty Government Standing Behind Local Businesses and Families

Ontario is supporting Elliot Lake’s economic recovery to sustain local businesses and protect jobs for families.

Through the Northern Ontario Heritage Fund Corporation (NOHFC), the province has created a two-year, $2-million business continuity fund for the City of Elliot Lake. The fund will help affected businesses re-open in temporary locations and put mall employees back to work as quickly as possible. It will also support priority economic development projects and will help impacted businesses find permanent homes.

The city and its economic development partners will also receive another $50,000 to support mid- to long-term initiatives that will create jobs, grow the business community and strengthen the economy.

Ontario is also setting up a temporary provincial economic revitalization office in the community. Staff from the Ministry of Northern Development and Mines will work closely with other provincial ministries, the municipality, local businesses and other stakeholders toward economic recovery.

QUOTES

“The community of Elliot Lake is known for its resilience in the face of serious challenges and as part of the healing process, will focus on dealing with the economic impacts resulting from this heartbreaking event. I am pleased that the Northern Ontario Heritage Fund is able to act quickly to help address a number of pressing short-term issues that will help Elliot Lake residents move forward.”

– Rick Bartolucci
Minister of Northern Development and Mines and Chair of the NOHFC

“We are very pleased that this funding will help address some immediate concerns in our business community and we look forward to working with the province on many levels to help our entire community recover and heal from this tragedy.”

– Rick Hamilton
Mayor, City of Elliot Lake

QUICK FACTS

The NOHFC is supporting this initiative through its Infrastructure and Community Development Program. The funds will not support loss of business revenues or employment income. Financial institutions, government and service agency offices are ineligible.
A community adjustment agreement has also been signed with the City of Elliot Lake to help develop and implement a long-term recovery plan for local retailers, service employers and their workers.
32 mall tenants were displaced by the collapse. The mall represented 60 per cent of all available retail space in Elliot Lake.
The provincial economic revitalization office is located in the ServiceOntario Centre on Hillside Drive North.