COVID-19: Up to another $44M to support Quebec businesses
The Government of Canada wishes to support the Réseau des SADC et CAE, PME MTL and eight regional organizations to help SMEs hit by the economic impacts of the health crisis.
Montréal, Quebec, March 18, 2021 – Canada Economic Development for Quebec Regions (CED)
For a year now, Quebec entrepreneurs have demonstrated great resilience and ingenuity in adapting to the crisis and pursuing their activities. The Government of Canada made a commitment to support them and is renewing its assistance today.
The Honourable Mélanie Joly, Minister of Economic Development and Official Languages, is announcing the Government of Canada’s intention to grant financial contributions totalling up to $43,765,000. This support will be given to the Réseau des SADC et CAE, PME MTL and eight regional organizations to ensure funding and technical assistance services are offered up to the end of June to businesses in need.
CED pursues collaboration with key partners for a strong recovery
To ensure sustainable economic development in communities, CED can count on its partners to support businesses across Quebec. New assistance, granted under the Regional Relief and Recovery Fund (RRRF), will enable close to 1930 businesses to make it through the crisis while maintaining 7095 jobs and playing a key role in the economic recovery.
With this in mind, the Réseau des Sociétés d’aide au développement des collectivités (SADC) et Centres d’aide aux entreprises (CAE) is receiving two additional contributions totalling $28.4 million to continue to bolster businesses and organizations in Quebec’s rural communities.
In addition, the Chambre de commerce du Montréal Métropolitain, Québec International, Promotion Saguenay, Investissement et Développement Gatineau, Développement PME Chaudière‑Appalaches, Pro-Gestion Estrie, Développement économique de l’agglomération de Longueuil and the Chambre de commerce et d’industrie de Laval will share support totalling close to $3.3 million. Thanks to this renewed assistance, they will be able to continue to offer their technical support services to businesses and NPOs in their sector.
Finally, CED also intends to renew its support for PME MTL. The planned $12 million contribution will enable the support network for Montréal businesses to maintain its targeted emergency assistance for local SMEs.
Additional information on the support being granted is available in a related backgrounder.
“It is a priority of the Government of Canada to assist Quebec’s small and medium‑sized businesses so they can rebound vigorously after the health crisis. And we will continue to support them as long as this crisis lasts: Our SMEs are the engine of our communities and the backbone of our economy. They create and maintain good local jobs and guarantee regional vitality. The government is committed to accompanying them so that our economy can come back even stronger than before.”
The Honourable Mélanie Joly, Member of Parliament for Ahuntsic-Cartierville, Minister of Economic Development and Official Languages and Minister responsible for CED
- The Honourable Mélanie Joly is the minister responsible for the six regional development agencies (RDAs), including CED.
- The Government of Canada launched the RRRF, which is administered by Canada’s six RDAs. This fund aims to support businesses affected by the COVID-19 pandemic that cannot benefit from other existing federal measures.
- CED is a key federal partner in Quebec’s regional economic development. With its 12 regional business offices, CED accompanies businesses, supporting organizations and all regions across Quebec into tomorrow’s economy.
- Regional Relief and Recovery Fund (RRRF)
- Coronavirus disease (COVID-19)
- Canada’s COVID-19 Economic Response Plan
Canada Economic Development for Quebec Regions
Office of the Minister of Economic Development and Official Languages
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