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With proposed investments in workforce training, infrastructure, and reduction of small business taxes, the 2015 federal budget holds p

The federal budget, offers several opportunities for Timmins businesses, including:romise for local businesses, according to the Timmins Chamber of Commerce.

• $65 million to support businesses and post-secondary institutions with curriculum development;
• $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-per-cent Mineral Exploration Tax Credit for flow-through share investors.

“By and large, the 2015 federal budget is a good one for small business, with several measures that stand to make a difference for all Timmins businesses,” said Timmins Chamber President Al Thorne.
“In particular, we’re pleased to note  the federal government continues to place a considerable priority on improving hiring and training support for small and medium-sized enterprises. Staffing concerns continue to be top of mind for many Timmins businesses, and initiatives to assist with the issue are certainly appreciated.”

Also benefiting the region is another one-year extension of the 15-per-cent Mineral Exploration Tax Credit. Timmins in particular stands to benefit, said Thorne, as junior mineral exploration firms can continue to see incentives for investing in the region. In support of another crucial resource sector, the federal government has also pledged an additional $86 million to assist with innovation and market expansion for forestry companies.