Ontario Increasing Economic Opportunity in Cochrane

Ontario Increasing Economic Opportunity in Cochrane

$6.3 million provincial investment will promote regional prosperity

March 24, 2022

Northern Development, Mines, Natural Resources and Forestry

COCHRANE – The Ontario government is providing more than $6.3 million through the Northern Ontario Heritage Fund Corporation (NOHFC) to seven economic development projects in Cochrane. Ontario is investing in Cochrane’s prosperity and sustainability, while helping build a stronger Ontario by creating good-paying jobs, expanding business operations, supporting critical infrastructure and improving quality of life in the North.

“Cochrane is an important economic hub,” said Greg Rickford, Minister of Northern Development, Mines, Natural Resources and Forestry. “By investing in projects from varied sectors, our government is promoting a more diverse economy and supporting job creation in the community.”

Examples of projects receiving NOHFC funding include:

  • $3,585,603 for Rockshield Engineered Wood Products to renovate its facility and purchase equipment to improve mill productivity and efficiency
  • $1,000,000 for the Town of Cochrane to install municipal water and wastewater infrastructure along a section of Highway 11 South – a segment of the Trans-Canada Highway – to support further commercial development along the corridor.
  • $42,500 for the Town of Cochrane to develop a feasibility study to establish a research isolation facility at the Cochrane Polar Bear Habitat to enhance polar bear care and support research on climate change and sustainability of the polar bear population.

The NOHFC promotes economic prosperity across Northern Ontario by providing financial assistance to projects – big and small, rural and urban – that stimulate growth, job creation and skills development. Since June 2018, the NOHFC has invested more than $473 million in 4,244 projects in Northern Ontario, leveraging more than $1.5 billion in investment and creating or sustaining over 6,600 jobs.

Quick Facts

  • In 2021, the Ontario government launched new and improved NOHFC programs that support more projects in rural northern communities and make it easier for more people and businesses to apply. The programs target existing and emerging markets, provide more work opportunities for Indigenous people and address the skilled labour shortage in the North.


“Rebuilding a business is never easy and doing this in Northern Ontario the past few years has been very difficult. The 4’ Lathe project Rockshield Engineered Wood Products is undertaking is necessary for the long-term viability of the company. The Ontario government support Rockshield has received for this project is what has made it possible for this investment to move forward as it would not have been doable without it. On behalf of our customers, employees, and the ownership group, we are most grateful for the support received from NOHFC in this regard.”

– Tom Scott
President and CEO, Rockshield Engineered Wood Products

“With the funding from the Ontario government we were able to develop a key guiding document in our Habitat Design and Feasibility Study that is helping us re-brand and re-vitalize our top tourist destination in the community. By re-branding, we are able to expand our programming to help us become more financially sustainable and generate economic and fiscal benefits for the town and local residents.”

– Jason Boyer
Director of Community Services, Town of Cochrane

Additional Resources

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Business and Economy

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Rural and North

Information about the province’s Far North and rural communities. Get connected to business improvement organizations and learn more about funding and programs that support rural, northern and Indigenous communities. Learn more