Canada Economic Development commits $750,000 to support economic development in the MRC de Memphrémagog

News Release

Magog, Quebec, October 3, 2005 -- The Honourable Jacques Saada, Minister of Canada Economic Development and Minister responsible for the Francophonie, today announced that the MRC de Memphrémagog - the regional county municipality (RCM) - will receive a budget allocation of $750,000 to carry out business development and job creation projects within its territory.

"This commitment is yet another step in Canada Economic Development's plan to assist the MRC de Memphrémagog in revitalizing and stimulating its manufacturing sector," stated Minister Saada.
Based on the results of the regional diagnosis and action plan currently being prepared by the Centre d'aide aux entreprises (CAE) de Memphrémagog, Canada Economic Development could supplement this funding to ensure the implementation of recommendations arising from the various consultations.
This particular assistance is in alignment with Canada Economic Development's mandate, one of the key priorities of which is to contribute toward the implementation of measures to foster the economic diversification of Quebec regions and to support communities that, like the MRC de Memphrémagog, are facing difficult economic situations.

Canada Economic Development's regular programs also ensure the Agency is able to continue supporting projects emanating from the RCM and, through its Estrie business office, keep working in collaboration with regional stakeholders and the Government of Quebec.
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.
Funding for this initiative was provided for in the February 2005 federal budget and is therefore built into the existing fiscal framework.
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Sources:
Lyne Montpellier
Communications
Canada Economic Development
Tel.: 1 800 567-8637
E-mail:
lyne.montpellier@dec-ced.gc.ca

Daniel DezaindePress SecretaryOffice of the
Honourable Jacques SaadaCanada Economic Development
Tel.: (514) 496-1282

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Canada Economic Development commits $750,000 to support economic development in the MRC de Memphrémagog

News Release

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