A $500 million new business growth fund announced by insurance CEO’s will have no effect for small business in Kapuskasing.

President of Kapuskasing’s District Chamber of Commerce Martin Proulx says the impact will not be felt in the local area.

Proulx says the main reason is that the boost is meant for companies in a certain income range.

He also says the majority of the impact will be felt by the manufacturing sector, which is still a positive, but there will be no help coming for small business in the area.