Backgrounder – Details regarding contributions awarded to two Bas-Saint-Laurent businesses

March 26, 2019 – Trois-Pistoles, Quebec – Canada Economic Development for Quebec Regions (CED)

OrganicOcean and GO Usinage will be able to continue to grow by receiving a total of $497,042 in repayable contributions from Canada Economic Development for Quebec Regions. With that financial assistance, the two businesses were able to purchase specialized equipment to better meet demand.

Rémi Massé, Member of Parliament for Avignon–La Mitis–Matane–Matapédia and Parliamentary Secretary to the Minister of Innovation, Science and Economic Development, made the announcement today. The funding, awarded by the Government of Canada under CED’s Quebec Economic Development Program, will enable the recipient businesses to achieve the objectives that they have set for themselves. By carrying out their respective projects, they will generate total investments of more than $2 million and create 12 jobs in the Bas‑Saint‑Laurent region.

OrganicOcean Inc.

Repayable contribution of $377,980 out of a total investment of $1,716,103

Founded in 2009, OrganicOcean specializes in developing and manufacturing innovative and sustainable plant nutrition technologies. The company has developed a unique line of biostimulants to complement fertilizers and protection products intended for the agricultural, horticultural and turf segments. OrganicOcean integrates sustainable harvesting of fresh seaweed into proprietary processing and formulation processes. OrganicOcean contributes to building a sustainable economy by developing high‑value‑added green technologies.

The investments enabled the company to purchase new processing equipment, upgrade the production infrastructure of the Trois‑Pistoles plant and increase the production capacity of its seaweed extract and by‑products. CED’s contribution is for purchasing processing equipment.

The project will consolidate the existing 8 full‑time and 12 seasonal jobs, in addition to creating 10 jobs by 2020.

GO Usinage Inc.

Repayable contribution of $119,062 out of total investment of $287,157 

Incorporated in 2015, GO Usinage is a company specializing in the design, manufacture, modification and assembly of high‑quality equipment parts intended primarily for manufacturing customers in a number of areas, including transportation, mining and forestry. The products manufactured by the SME are made of various types of ferrous and non-ferrous metal, and plastics.

The project aims to make the company more competitive by increasing its production capacity and productivity through the purchase of digital production equipment and the development of management capabilities. CED’s contribution served for purchasing and installing a digitally controlled machining lathe and toolroom lathe.

The project helped maintain four existing full-time jobs and one part-time job, and resulted in the creation of two new jobs.

Summary

• Number of projects: 2
• Number of jobs created: 12
• CED contributions: $497,042
• Total investments generated by these projects: $2,003,260