The Government of Canada awards $600,000 in funding to the organization that supports the Quebec aluminum industry ecosystem
MONTRÉAL, March 25, 2019 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
AluQuébec, the Quebec aluminum industrial cluster, is a non-profit organization whose mission is to foster synergies between clients-users at the national and international levels and aluminum industry stakeholders in Quebec, in a concerted manner with all partners and regions of Quebec. AluQuébec will receive a $600,000 non-repayable contribution, over a three-year period, from Canada Economic Development for Quebec Regions in order to pursue its various activities in the Quebec aluminum industry ecosystem. The funding will allow the organization to focus on its objective of increasing the volume of aluminum processing by 2025, and ensuring the industry's growth.
Richard Hébert, Member of Parliament for Lac-Saint-Jean and Parliamentary Secretary to the Minister of Small Business and Export Promotion took advantage of his meeting with representatives of the cluster to announce this funding. Specifically, the Government of Canada's financial assistance will allow AluQuébec to implement its action plan, which is based on four broad initiatives: 1) Support for processors and equipment manufacturers; 2) Implementation of growth-generating projects; 3) Industry outreach; and 4) Industry consultation.
Created in 2013, AluQuébec is an industrial cluster that aims to boost the competitiveness and growth of the aluminum processing sector by engaging the various stakeholders and offering services that foster the realization of projects involving marketing, innovation, productivity and access to financing and skilled labour.
The Government of Canada is committed to supporting innovative Canadian businesses. A driving force of the economy, innovation is the key to success because it generates growth that benefits both businesses and communities. This is why we make sure that businesses are able to rely on adequate resources to create and market innovative products. The AluQuébec project is in line with two of the four priorities of the Federal Strategy on Innovation and Growth for the Quebec Regions, namely innovation and clean tech, and growth and exports.
"SMEs are true drivers of economic development in our regions. I am therefore thrilled with this support for AluQuébec, which will be able to pursue its activities aimed at helping SMEs enhance their competitiveness, commercialize new products and develop markets by integrating into global value chains."
Richard Hébert, MP for Lac-Saint-Jean and Parliamentary Secretary to the Minister of Small Business and Export Promotion
"The aluminum transformation industry in Quebec consists of more than 1,400 processing companies that reported a turnover of $6.7 billion in 2017, and 17,000 jobs. The aluminum industry in Quebec is the second largest export sector after aerospace. Although the industry is growing, it is facing a number of challenges. Our investment will help businesses innovate in order to boost their productivity, develop and expand into new markets, thus creating good jobs for the middle class."
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 (REGI) program. To find out more about CED and its priorities, see the 2018–2019 Departmental Plan or visit www.dec-ced.gc.ca.
- The Regional Economic Growth through Innovation (REGI) 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.
- On March 11, 2019, the Government of Canada launched the REGI Steel and Aluminum Initiative, a national initiative involving a $100-million Canada-wide investment by the Government of Canada, including $26 million through CED, to support SMEs in the steel and aluminum sectors.
- For 50 years now, the Government of Canada has been actively involved in regional economic development in Quebec: half a century of concrete action targeting the growth of Quebec's regions and businesses.
SOURCE Canada Economic Development for Quebec Regions
For further information: Media Relations, Canada Economic Development for Quebec Regions, Tel.: 514-283-7443, Email: email@example.com