Government of Canada invests in growth with support for Samonix's pre-startup phase

MRC de Pontiac business receives $99,998 in financial assistance from CED.

LITCHFIELD, QC, Aug. 19, 2024 /CNW/ - Canada Economic Development for Quebec Regions (CED)

Supporting inclusive growth and business diversification contributes to economic development in Quebec's regions. That is why Sophie Chatel, Member of Parliament for Pontiac, today announced, on behalf of the Honourable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for CED, a repayable contribution of $99,998 for Samonix Inc. This CED assistance, provided under the new tailored funding approach for Quebec's economically vulnerable regional county municipalities (RCMs), will enable the business to conduct preliminary studies in support of its pre‑startup phase.

Founded in 2020, Samonix aims to specialize in the land-based aquaculture of Atlantic salmon. Since 2022, the business has been in possession of land in Litchfield to be used for a land-based aquaculture plant along the shores of the Ottawa River. This facility will provide a yearly supply of fresh salmon for major markets in Quebec and Ontario, with the potential for exports to the U.S.

CED's support will focus on the fees of external professionals and enable the business to mobilize various stakeholders to support the pre-startup of its plant. In addition, to help implement this project, Samonix established a strategic partnership in December 2023 with Norwegian and Swiss stakeholders who will contribute the appropriate experience and expertise.

The Government of Canada recognizes and supports businesses and organizations that are a source of pride in their communities. Quebec's economic growth relies on organizations with strong roots in the regional economy; they are key assets in building a sustainable, inclusive economy. Since Quebec's regions do not all have the same assets or face the same challenges, this must be taken into account when supporting their economic development.

Quotes

"Promoting innovation and economic growth in all regions across the country is a priority for our government. In this spirit, we support promising projects by businesses such as Samonix, located in one of Quebec's economically vulnerable RCMs. By assisting a business such as Samonix in its pre‑startup phase, we are helping ensure more inclusive economic growth to the benefit of the Pontiac community."

Sophie Chatel, Member of Parliament for Pontiac

"Our government has a mission to guide the country's businesses and regions into tomorrow's economy. That is why CED is going further in its approach by paying particular attention to the most economically vulnerable RCMs in Quebec. Thanks to CED's support, Samonix will be able to conduct the necessary studies to establish a cutting-edge facility dedicated to the responsible cultivation of Atlantic salmon. This type of aquaculture activity makes it possible to farm salmon without endangering our fragile oceans and ecosystems."

The Honourable Soraya Martinez Ferrada, Member of Parliament for Hochelaga, Minister of Tourism and Minister responsible for CED

"Samonix is very pleased to be able to count on CED's generous contribution. With this assistance, the business is launching an ambitious initiative to produce higher-quality salmon with fewer environmental impacts. We thank CED for supporting Samonix in developing an innovation hub for salmon farming in the Outaouais region. We are first aiming to produce locally for all regional markets, but we also hope to become a world leader in this type of production."

Mathieu Farley, Founding President, Samonix Inc.

Quick facts

• The funds have been granted under CED's Quebec Economic Development Program. This program aims to help communities seize economic development and diversification opportunities that are promising for the future.
  
  
• Under the flexible conditions provided to economically vulnerable RCMs, CED's repayable contribution would become non-repayable if the project to launch a plant is not successful.
  
  
• CED already adapts its support based on the growth potential of each region by providing flexible conditions to the 75 RCMs in Quebec with low growth potential.
  
  
• To go even further in its mandate, CED is now providing the eight most economically vulnerable RCMs, which figure among the 75 RCMs with low growth potential, additional flexibility to expand the types of assistance available and projects supported.
  
  
• These eight RCMS are the Kativik Regional Government, MRC Avignon, MRC de La Haute-Gaspésie, MRC La Tuque, MRC de La Vallée-de-la-Gatineau, MRC du Golfe-du-Saint-Laurent, MRC du Rocher-Percé and MRC de Pontiac.
  
  
• CED is the 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.

Associated links

• Samonix
• CED funding initiatives and programs
• New tailored funding approach for Quebec's economically vulnerable RCMs - Canada.ca
• Targeted support for Quebec's economically vulnerable RCMs

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SOURCE Canada Economic Development for Quebec Regions

Information: Media Relations: Canada Economic Development for Quebec Regions, [email protected]; Marie-Justine Torres, Press Secretary, Office of the Minister of Tourism and Minister responsible for Canada Economic Development for Quebec Regions, Cell: 613-327-5918, [email protected]