Almost $700,000 to support the expansion and enhance the productivity of two Saguenay businesses
News release
The Government of Canada supports projects by SCP 89 and OXO Fab.
October 12, 2018 – Saguenay, Quebec – Canada Economic Development for Quebec Regions (CED)
SCP 89 Inc. and OXO Fab Inc. (known under the trade name OXO Valve) will be able to count on financial assistance from the Government of Canada to improve their production capacity, acquire strategic equipment and support their growth. Their respective projects will generate a total investment of over $2.4 million and will result in the creation of 10 jobs in the Saguenay region.
The repayable contributions totalling $688,220 were announced by Richard Hébert, Member of Parliament for Lac-Saint-Jean and Parliamentary Secretary to the Honourable Mary Ng, Minister of Small Business and Export Promotion, acting on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED.
The funding granted by the Government of Canada under CED’s Quebec Economic Development Program will allow the recipient businesses to achieve their established objectives.
The Government of Canada is committed to establishing close partnerships with Quebec businesses to support their efforts to innovate and enhance their productivity and competitiveness, while contributing to the economic vitality of the regions, the creation of good-quality jobs and a better quality of life for citizens.
Quotes
“With the help of this support from the Government of Canada, two Saguenay businesses will continue to showcase regional expertise throughout the country. High-performing and forward-looking, these companies are contributing to economic growth in their region and in Canada.”
Richard Hébert, MP for Lac-Saint-Jean and Parliamentary Secretary to the Minister of Small Business and Export Promotion
“As Minister of Innovation, Science and Economic Development, my goal is to help businesses grow and innovate so they can increase their competitiveness and create good-quality jobs and wealth for Canadians. This is why we are supporting these two businesses, whose success reflects on the region and on the Canadian economy as a whole.”
The Honorable Navdeep Bains, Minister responsible for CED
Quick facts
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CED is one of the six regional development agencies under the responsibility of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.
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The year 2018 marks the 50th anniversary of federal regional economic development in Quebec: half a century of concrete action targeting the growth of Quebec’s regions and businesses.
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To find out more about CED and its priorities, see the 2018–2019 Departmental Plan or visit www.dec-ced.gc.ca.
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Contacts
Media Relations
Canada Economic Development for Quebec Regions
514-283-7443
dec.media.ced@canada.ca
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