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Federal budget good news for Timmins

The Timmins Chamber is calling yesterday’s federal budget announcement good news.

They say there are a bunch of opportunities for local businesses, with $65M going into supporting businesses and post-secondary institutions. There is also a proposed reduction of the Small Business Tax, down from 11% to 9% in the next four years.

There is also going to be $86M to expand the forestry industry.

Chamber President Al Thorne says staffing concerns are on top of mind for many local companies, and the feds putting a priority on improving hiring and training support is appreciated.

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Thorne says they are pleased to note the feds are putting a priority on improving hiring and training for small and medium businesses.

Budget highlights:

• $65 million to support businesses and post-secondary institutions with curriculum


• $4 million to create a one stop portal for labour market information;

• Reduction of the Small Business Tax from 11% to 9% by 2019;

• $5.8 billion in additional infrastructure spending;

• A two-year, $86-million investment in assisting innovation and export market development in

forestry operations; and

• Another one-year extension of the 15% Mineral Exploration Tax Credit for flow-

through share investors.

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