Orford, Quebec, June 17, 2005 - While passing through the region today, the Honourable Jacques Saada, Minister of Canada Economic Development and Minister responsible for the Francophonie, announced the awarding of a non-repayable contribution of $95,400 to the Centre d'aide aux entreprises (CAE) de Memphrémagog to conduct a regional diagnosis and prepare an action plan focussing on the manufacturing and the propulsive service industries. In this day of disappearing trade borders, Quebec's businesses are faced with the challenge of fiercer international competition. The prevailing situation in the MRC de Memphrémagog ¿the regional county municipality (RCM)¿ demands that the community reassess its future prospects and opportunities for prosperity within a framework of cooperation and involvement by the various regional economic stakeholders. This diagnosis, carried out with the involvement of Canada Economic Development, the CAE and the community's various economic players, aims to, among other things, identify high value-added niches that show promise for enterprises and generate collective wealth. "This exercise will allow us to draw up an instructive portrait of the situation. The resulting concerted action plan will serve to guide our future activities and maximize our efforts to support the MRC de Memphrémagog. The Agency will at the same time continue to back projects emerging from the MRC and provide its full cooperation to representatives of the community and the Government of Quebec," explained the Minister. Mr. Saada took this opportunity to reiterate his commitment to supporting the regions in their economic diversification efforts, citing the example of the ongoing support provided by the Agency's Estrie regional office to the MRC d'Asbestos from the very onset of economic hardships in the region. Canada Economic Development favours a proactive approach to regional assistance. "I would like to salute the vision expressed by the leaders of the MRC du Granit, which is currently in the process of conducting a similar diagnosis, and by those of the MRC du Haut Saint-François and the MRC du Val-Saint-François, which will likely be following suite as a preventive measure," concluded the Minister. 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. - 30 - Sources: Lyne MontpellierCommunicationsCanada Economic DevelopmentTel.: 800 567-8637E?mail: lyne.montpellier@dec-ced.gc.ca Daniel DezaindePress SecretaryOffice of the Honourable Jacques SaadaCanada Economic DevelopmentTel.: 514 496-1282
