Drummondville economic development: The Government of Canada supports projects by three SMEs and one organization in the Centre-du-Québec region
Scott Bader ATC, Soucy Plastiques and Chrome Drummond, as well as CAE Drummond, will share over $3.1 million
August 9, 2019 – Drummondville, Quebec – Canada Economic Development for Quebec Regions (CED)
Scott Bader ATC, Soucy Plastiques and Chrome Drummond, three highly innovative companies that employ over 150 people in the Centre-du-Québec region, will be able to pursue their growth with the help of a total of $1,350,000 in repayable contributions from Canada Economic Development for Quebec Regions. In addition, the Fonds de développement économique Laprade-Drummond (CAE Drummond) has been awarded a non-repayable contribution of $1,779,109 over five years (2019–2024) to provide coaching services and funding for small businesses and young entrepreneurs and to carry out local economic development activities in the area it serves.
The funding was announced today by the Honourable François-Philippe Champagne, Member of Parliament for Saint‑Maurice–Champlain and Minister of Infrastructure and Communities. This Government of Canada assistance will spur economic development in the Centre-du-Québec region and foster the creation of good‑quality jobs for the middle class.
A driving force of the economy, innovation is key to success because it generates growth that benefits both businesses and communities. This is why the Government of Canada aims to ensure that businesses are able to rely on adequate resources to create and market innovative products.
The Government of Canada is also committed to creating close partnerships with Quebec businesses and organizations to support their efforts to innovate and increase their productivity and competitiveness, and to contribute to the economic vitality of the regions and the improvement of citizens’ quality of life.
“The Government of Canada is determined to support the economic growth of Quebec and its regions. By investing in the growth of businesses and organizations like those targeted by today’s announcement, we are helping to make our regions more prosperous. Our government stands by its commitment to foster expansion and innovation and grow exports. I applaud the hard work of the Centre-du-Québec entrepreneurs who are contributing to our country’s economic success.”
The Honourable François-Philippe Champagne, Minister of Infrastructure and Communities
“As Minister of Innovation, Science and Economic Development, my goal is to help businesses grow and innovate so that they can enhance their competitiveness and make a name for themselves in new markets, thus creating good-quality jobs and wealth for Canadians. The funding awarded today provides tangible evidence of this commitment through support for businesses and organizations whose success and vitality reflects on the region and on the Canadian economy as a whole.”
The Honourable Navdeep Bains, Minister responsible for CED
Today’s announcement was made on behalf of the Honourable Navdeep Bains, Minister responsible for the Innovation, Science and Economic Development portfolio, which is made up of 17 federal departments and agencies, including CED and the other five regional development agencies.
The funding awarded to Scott Bader ATC, Soucy Plastiques and Chrome Drummond was provided under CED’s Regional Economic Growth through Innovation program. This program targets entrepreneurs who leverage innovation to grow their businesses and make them more competitive, and regional economic stakeholders who help create an entrepreneurial environment conducive to innovation and inclusive growth in all regions.
The financial support for CAE Drummond was awarded under the Community Futures Program (CFP). This program funds the operations of Canada’s 269 Community Futures Development Corporations (CFDCs) and Business Development Corporations (BDCs). The CFP recognizes the expertise of local decision-makers and the autonomy of decision-making, with a view to encouraging communities to become involved in taking charge of their futures. CED is responsible for implementing the CFP in Quebec.
Canada Economic Development for Quebec Regions
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