Provincial funding will protect local jobs and support economic growth through the launch of Sault Ste. Marie’s Foreign Direct Investment Strategy, the government said
A half million dollars is being given to Sault Ste. Marie by the provincial government to assist in bringing new investment by companies that can tap into the existing steel and forestry sectors in the area.
In an announcement Monday morning at the Ronald A. Irwin Civic Centre, Ontario’s minister of Economic Development, Job Creation and Trade, Vic Fedeli, said the $500,000 is part of a broader $30-million investment by the government to offset the effects of tariffs.
“Sault St. Marie is one of the kinds of border communities that are most impacted by the tariffs. This $500,000 will allow the community, who had an excellent application, to be able to look for other markets, look for other kinds of products, in addition to what’s already being produced here to create new jobs,” said Fedeli to media.
Mayor Matthew Shoemaker said city staff have been in communication with companies from around the world to try to drum up investment in the city, particularly looking at what value-added opportunities are out there for companies that could take advantage of the local steel and forestry industries, among others.
“It’s really seeing what’s out there in terms of businesses that are interested in Sault Ste. Marie,” he said.
The funding announced today will go, in part, toward a foreign direct investment strategy, as well as future site visits to companies that wish to be located near those kinds of industries.
Although not formally part of the announcement, Shoemaker said the proposed Port of Sault Ste. Marie project could make the prospect of companies setting up shop in Sault Ste. Marie even more attractive.
“We see it as the foundational piece to helping companies have the infrastructure here that they need in order to be able to grow. It’s what’s been missing for a long time. We have highway access, we have rail access and there is private port access, but not a public port that is equally accessible to all,” said Shoemaker.
In response to media questions, Fedeli said the province understands what its role could be in the proposed port project, but that the federal government has to be the leader in a project of that magnitude.
“I think the Sault has always been important in the fabric of Canada, certainly to the strength of Ontario. I think we really need to have the tariff negotiations settled so we can get back to the strategic importance of steel, but in the meantime we have supported Algoma,” said Fedeli.
NEWS RELEASE
ONTARIO GOVERNMENT
*************************
The Ontario government is protecting tariff-impacted workers and industries in Sault Ste. Marie with an investment of $500,000 through the Trade-Impacted Communities Program (TICP).
The funding will support the development and implementation of the City’s $550,000 Foreign Direct Investment Strategy, a project dedicated to enhancing the region’s innovation ecosystem through investment attraction and diversification of partner markets. In the face of economic uncertainty, the $40 million TICP initiative is a tactical tool the government launched last year to protect good-paying jobs and build resilient, self-reliant communities across the province.
“Regional communities and local industries are essential to our province’s economic fabric, which is why our government will continue to ensure they have the tools needed to remain resilient in the present and competitive for the long term,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade.
“We look forward to seeing Sault Ste. Marie’s Foreign Direct Investment Strategy build on the region’s longstanding reputation as an industrial hub and support the diversification of their exports.”
Sault Ste. Marie has long supported the North American steel, fabrication and forestry industries, with the U.S. serving as the predominant market for finished goods exports.
In response to the disproportionate impact of U.S. tariffs on the local economy, the City is developing a Foreign Direct Investment (FDI) strategy dedicated to unlocking new export markets, attracting investment and expanding existing industrial strengths. The strategy will also focus on diversification of the domestic supply chain, including increasing the region’s engagement in Ontario’s defence, aerospace, critical minerals processing and advanced manufacturing sectors.
“This investment comes at a critical time for Sault Ste. Marie, with workers and the broader local economy continuing to feel the impacts of trade uncertainty,” said Matthew Shoemaker, Mayor of Sault Ste. Marie.
“With the province’s support, the City is advancing a Foreign Direct Investment Strategy that will strengthen our competitiveness, attract new investment and open the door to diversified markets. This is an important step toward building a more resilient, future-ready economy for our community.”
First announced as part of the province’s nearly $30 billion tariff relief and support plan, the TICP is dedicated to projects aimed at strengthening economic resilience and competitiveness across industries and communities disproportionately impacted by global trade disruptions. The program also supports the diversification of supply chains across Ontario’s priority sectors, while increasing export and investment opportunities to reduce reliance on U.S. markets.
As Ontario continues to navigate the impacts of U.S. tariffs and global economic uncertainty, the government remains focused on delivering critical funding, cutting red tape and positioning local economies to be more competitive, resilient and investment ready across priority sectors.
Quick Facts
• Trade-Impacted Communities Program is part of Ontario’s broader strategy to support tariff-impacted communities, which focuses on ensuring long-term economic stability and growth while reshoring and strengthening supply chains.
• Open to municipal governments, economic development organizations, sector and industry associations, business accelerators and incubators, TICP funds community level projects that build economic resilience, diversify supply chains and foster new trade partnerships in response to U.S. trade disruptions.
• The program works in tandem with the Ontario Together Trade Fund, the Protect Ontario Financing Program and the Ontario Made Manufacturing Investment Tax Credit.
• Since its launch, the government has received over 80 applications from communities across Ontario and is actively assessing projects for consideration.
• Applications for Stream 1 will be accepted on a continuous basis as long as funding is available. The application window for Stream 2 closed as of September 11, 2025.
• Ontario has taken decisive action to protect good-paying steel jobs in Sault Ste. Marie, including a joint $500 million investment with the federal government to support Algoma Steel in responding to the impacts of U.S. tariffs.
*************************
