Nipissing Vic Fedeli is dismissing media reports that his removal as Finance Minister to become the new Minister of Economic Development, Job Creation and Trade is a demotion.

Fedeli says if anything, it’s an opportunity to bring more business to Ontario.

The MPP says the department will be proactive in attracting new business.

As a former businessman, Fedeli says he’s taking his “business acumen and will share it worldwide.”

Fedeli says one area he will target for new business in Ontario is the mining sector.

“We really haven’t seen any new mines open in Ontario,” he said.

“We were the number one mining jurisdiction in the world 15 years ago and today we’ve fallen to about 30th.”

As the new minister, Fedeli may introduce a concept that worked well for North Bay when he was the city’s Mayor.

Fedeli says the city employed a business, retention and expansion program and says “we need that in Ontario as well”.

He says an example of the expansion part of the program involved the Fabrene manufacturing plant when it wanted to expand.

But what held the company back was not having enough power.

Fedeli says the city was able to help out because it owned the power facility and was able to get power to the proposed expansion site.

“So this happened because we had the business, retention expansion program,” he said.

Fedeli says when he meets with businesses, foremost will be what’s preventing them from entering Ontario.

“Is there red tape in the way,” he said.

“Is red tape holding you up? If it is, tell us what you need and let us work with you to get that reduced.”

Asked about the move to economic development from finance, Fedeli said it was an evolution.

“My mission was to craft a budget that was going to present a path to balance (the budget) over five years and that happened,” he said.

“As we (Premier Doug Ford) chatted we knew the next role for me was out there selling.”

Fedeli says as the new Minister for Economic Development he will be spending more time outside of Ontario with the goal of producing more jobs for the province.