News Release

Red Lake Prepares For New Economic Development

July 27, 2009

McGuinty Government Supports Commercial Development Study  

NEWS   

Ontario is helping the Municipality of Red Lake manage growth by supporting the development of commercial lots along Highway 105.

Through Northern Ontario Heritage Fund Corporation (NOHFC) assistance, Red Lake conducted an engineering study on the proposed development of a new commercial and industrial property, which could attract businesses and create jobs in the community.

The study was completed earlier this summer and site preparation has begun.

QUOTES

“The Red Lake area has experienced significant growth in recent years and needs more commercial space to accommodate this growth. This project will help bring new businesses to the region and improve the town’s investment readiness.”
-     Minister Michael Gravelle, Minister of Northern Development, Mines and Forestry and Chair of the NOHFC.  

QUICK FACTS

• The Municipality of Red Lake has a population of about 4,500 and is comprised of the towns of Red Lake, Balmertown, Cochenour, McKenzie Island, Starrat-Olsen and Madsen.  
• Red Lake is currently the best gold producing area in North America.  Over the past 75 years, more than 18 million ounces of gold have been mined in the district.
• In 2008, with support from the NOHFC, the Municipality of Red Lake began work on this project by developing a draft plan, site preparations, as well as water, sewer and drainage system drawings. This year, the NOHFC invested $31,120 to conduct the engineering study for the planned development.
  

LEARN MORE

• Visit the Town of Red Lake
• Learn more about the NOHFC’s programs

Anne-Marie Flanagan, Minister’s Office, 416-327-0655
Michel Lavoie, Communications Branch, 705-564-7125   

ontario.ca/north-news

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