Gatineau, Quebec, September 21, 2004 - The Honourable Jacques Saada, Minister of Canada Economic Development and Minister responsible for the Francophonie, today announced that the Government of Canada is awarding $580,000 in financial assistance to the Gatineau firm Optima to enable the manufacturer of large scale digital printing to pursue its productivity enhancement plans. "Carrying out this project will enable the company to improve its productivity and enhance its competitive position. With this financial support, Optima will increase its sales force and step up efforts to identify new foreign markets. In the short term, the firm intends to create three new jobs to support this new sales activity," explained Minister Saada. This second phase of the company's productivity enhancement plan, which began in 2002, will require the acquisition and installation of new specialized equipment as well as the reorganization of production areas. Optima then intends to hire a computer graphics technician, a designer and an estimator. "The creation of internationally-competitive enterprises is a key priority for the Government of Canada," noted the Minister. Canada Economic Development will contribute $100,000 in the form of a repayable contribution under the Innovation and Productivity component of its IDEA-SME program. The project meets two of the key priorities set out by the Agency's Outaouais business office: to support the competitiveness of enterprises and increase the number of exporting firms. The Business Development Bank of Canada will provide the remainder of the financing, or $480,000, for the acquisition of equipment and software and the refurbishing of the production, sales and service facilities. These funds will enable the company to offer a new range of products in the region and increase product quality, while reducing overall production costs. This financing is awarded in the form of an interest-bearing term loan with a three-month freeze on the capital. Canada Economic Development's mandate is to promote the economic development of the regions of Quebec. Primarily through financial assistance programs, the Agency elicits and supports the implementation of economic development projects. The two priorities the Agency has set itself are to foster innovation and the knowledge economy in each region of Quebec, and to help communities that are having difficulty adjusting to the new economy. In this way, the Agency contributes to the attainment of the Government of Canada's objective of building the 21st Century economy. The Business Development Bank of Canada (www.bdc.ca) is a financial institution wholly owned by the Government of Canada. BDC plays a leadership role in delivering financial and consulting services to Canadian small business, with a particular focus on technology and exporting. Funding for this initiative was provided for in the March 2004 federal budget. - 30 - Sources: François Bélisle Communications Canada Economic Development (819) 825-5260 ext. 235 Louise Descôteaux Director Business Development Bank of Canada Outaouais Region (819) 997-6992 Jean-François Del Torchio Press Secretary Office of the Honourable Jacques Saada (514) 496-1282
