Financial support to help five Saguenay–Lac-Saint-Jean businesses grow

From: Canada Economic Development for Quebec Regions

News release

Government of Canada awards more than $700,000 to Technosoude, Dynamic Concept, Sublimart, Imago Structures and Distillerie du Fjord

May 25, 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 the key to Canada’s success in that it generates growth that benefits businesses and communities.

Five Saguenay businesses, Technosoude (website in French only), Dynamic Concept, Sublimart, Imago Structures and Distillerie du Fjord, will be able to rely on financial assistance from the Government of Canada to improve their production capacity and acquire strategic equipment. Their respective projects will generate total investments of more than $1.6M and create 18 new jobs in the region.

The Government of Canada’s repayable contributions totalling $723,225 were announced today by Richard Hébert, Member of Parliament for Lac-Saint-Jean, acting on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED.

The funding granted through CED’s Quebec Economic Development Program will help the recipient businesses achieve their growth objectives.

Quotes

“Quebec and Canadian entrepreneurs are key players in our economy. To ensure business growth and foster the creation of good, well-paying jobs, they need to be able to rely on the best equipment and improve their productivity to remain competitive. I am very pleased about the assistance awarded today to five dynamic businesses that are contributing to the region’s economic growth.”

Richard Hébert, Member of Parliament for Lac-Saint-Jean

“As Minister of Innovation, Science and Economic Development, my goal is to help businesses grow and innovate so that they can become more competitive and create high-quality jobs and wealth for Canadians. That is why we are supporting these five businesses, whose successes benefit the region and the Canadian economy overall.”

The Honourable Navdeep Bains, Minister responsible for CED

Quick facts

  • CED is one of the six regional development agencies under the responsibility of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.

  • This year marks the 50th anniversary of federal regional economic development in Quebec: half a century of concrete action dedicated to the development of the regions and local businesses.

  • For more information on CED and its priorities, consult the 2018-19 Departmental Plan or visit www.dec-ced.gc.ca.

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Contacts

Media Relations
Canada Economic Development for Quebec Regions
Tel.: 514-283-7443
Email: dec.media.ced@canada.ca

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