Financial support for five Saguenay businesses to support their growth and market development
Government of Canada awards more than $2.5 million to PCP Aluminium, Microbrasserie du Saguenay, Industries DODEC, Noriske and Formothane Saguenay
April 30, 2018 – Saguenay, Quebec – Canada Economic Development for Quebec Regions (CED)
Businesses need to be able to rely on adequate resources to create and commercialize innovative products. In 2017, the Government of Canada adopted an ambitious plan to support innovative Canadian enterprises. As a true economic driver, innovation is essential to Canada’s success in that it generates growth that benefits businesses and communities.
Five Saguenay businesses—PCP Aluminium (6482066 Qc Inc.), Microbrasserie du Saguenay (9216-3146 Qc Inc.) [website in French only], Industries DODEC Inc., Noriske [formerly known as Équipement Saguenay (1982) Ltée] and Formothane Saguenay Inc.—will be able to rely on financial assistance from the Government of Canada to improve their production capacity, implement commercialization strategies and acquire strategic equipment. These projects will generate total investments of more than $7.6 million and create 38 new jobs in the area.
The repayable contributions totalling $2,654,172 were announced today by the Honourable Diane Lebouthillier, Minister of National Revenue, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED.
The funding awarded by the Government of Canada through CED’s Quebec Economic Development Program will help the recipient businesses achieve their growth objectives.
“Quebec and Canadian entrepreneurs are key players in our economy. To ensure the growth of their enterprises and foster the creation of good, well-paying jobs, they have to be able to rely on the best equipment and easily access international markets. I am very pleased about the assistance granted today to five dynamic businesses that will be able to contribute to economic growth in their region and in Canada.”
The Honourable Diane Lebouthillier, Minister of National Revenue
“As the Minister of Innovation, Science and Economic Development, my goal is to help businesses grow and innovate so that they can become more competitive in the market and create good-quality jobs and wealth for Canadians. That is why we are supporting these five enterprises, whose successes benefit the region and the Canadian economy overall.”
The Honourable Navdeep Bains, Minister responsible for CED
CED is one of the six regional development agencies under the responsibility of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.
Budget 2018 proposes to provide an additional $511 million in funding over five years on a cash basis, starting in 2018–2019, for the regional development agencies to support the Innovation and Skills Plan across all regions of Canada.
Of the $511 million, $99 million will be allocated to CED, of which $22 million will go toward supporting the new Women Entrepreneurship Strategy.
Canada Economic Development for Quebec Regions
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