The Government of Canada awards $150,000 in funding to the Sainte-Thérèse company
SAINT-THÉRÈSE, QC, Sept. 6, 2019 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
Absolunet is a highly innovative IT-sector business that specializes in the development and implementation of eCommerce solutions. To allow it to develop new markets in the U.S., the company will receive a $150,000 repayable contribution from Canada Economic Development for Quebec Regions.
The funding was announced today by Ramez Ayoub, Member of Parliament for Thérèse-de-Blainville. Specifically, this Government of Canada assistance will allow Absolunet to implement its marketing strategy and set up a new office in the southern U.S. The expansion project will lead to the creation of 100 good-quality jobs. The company had used a previous contribution to open its first office in the U.S., specifically in Kansas City.
Founded in 1999, Absolunet is fast-growing company that employs 238 people in its two offices located in Sainte-Thérèse and Montréal. Through its affiliation with Magento and Adobe, the company is expected to continue to expand in the U.S. market, and believes that setting up its new office in the United States will allow it to grow its revenues.
The Government of Canada is committed to supporting innovative Canadian businesses. A driving force of the economy, innovation is key to success because it generates growth that benefits both businesses and communities, which is why the Government is committed to ensuring that businesses are able to rely on adequate resources to create and market innovative products.
"The Government of Canada has implemented an ambitious approach to support businesses that invest in new market development. The financial assistance awarded to Absolunet is intended to provide concrete support for a company that has been demonstrating its know-how since its creation. This funding will help grow foreign exports, and will result in the creation of well-paid, sustainable jobs for our region. Initiatives like this have a real impact on our community, and I am very proud of it."
Ramez Ayoub, MP for Thérèse-de-Blainville
"Our government is giving Canadians the means to become more competitive and to thrive in the global economy. The funding announced for Absolunet is in line with Canada's competitive advantages generated through the organization's marketing activities, and will boost economic growth. It will also create good jobs for middle-class Canadians."
The Honourable Navdeep Bains, Minister responsible for CED
- Today's announcement was made on behalf of the Honourable Navdeep Bains, Minister responsible for the Innovation, Science and Economic Development portfolio, which is made up of 17 federal departments and agencies, including CED and the other five regional development agencies.
- The funding was provided under CED's Regional Economic Growth through Innovation program. This program targets entrepreneurs who leverage innovation to grow their businesses and make them more competitive, and regional economic stakeholders who help create an entrepreneurial environment conducive to innovation and inclusive growth in all regions.
- To find out more about CED and its priorities, see the 2019–2020 Departmental Plan or visit www.dec-ced.gc.ca.
SOURCE Canada Economic Development for Quebec Regions
For further information: Media Relations, Canada Economic Development Quebec Regions, 514-283-7443, [email protected]