An SME in Montérégie will be able to enhance its productivity with the help of funding from Canada Economic Development for Quebec Regions Français
Over $812,000 in Government of Canada assistance for innovative investments by Normandin
SAINT-VALÉRIEN-DE-MILTON, QC, July 23, 2019 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
Steel and aluminum companies are major players in our economy and supply chains because they provide good jobs for thousands of middle-class Canadians.
Today, the Honourable Ginette Petitpas Taylor, Member of Parliament for Moncton–Riverview–Dieppe and Minister of Health, announced the awarding of a non-repayable contribution of $812,250 to Normandin Inc., a Montérégie company.
With this support from the Government of Canada, Normandin will be able to increase its productivity and production capacity by acquiring latest-generation technological equipment, including a robotic cell, which will increase bending capacity and help the company acquire new market shares.
This funding is awarded under the Steel and Aluminum Initiative of the Regional Economic Growth through Innovation (REGI) program, announced in March 2019.
Administered by the regional development agencies (RDAs), this initiative provides targeted support to Canada's small- and medium-sized enterprises in the steel and aluminum sectors. Non-repayable contributions will enable these SMEs to adopt innovative technologies for increasing their productivity or competitiveness and create highly skilled jobs.
Quotes
"Through its strategy aimed at supporting companies in the steel and aluminum sectors, the Government of Canada has chosen to assist innovative Canadian companies that come up with new ways of creating value, and which are seeking to penetrate new markets. The funding awarded to Normandin is intended to provide concrete support for a company that has demonstrated its expertise and its willingness to ensure its growth and create well-paying jobs for the middle class."
The Honourable Ginette Petitpas Taylor, Member of Parliament for Moncton–Riverview–Dieppe and Minister of Health
"Our government supports Canadian workers in the steel and aluminum sectors, as well as companies that play an important role in Canada's regional economies. Our investments support Canadian SMEs that produce or use these metals and help them innovate in order to increase their productivity, expand, enter new markets and create good middle-class jobs."
The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED
Quick facts
- Today's announcement is made on behalf of the Honourable Navdeep Bains, Minister responsible for the Innovation, Science and Economic Development portfolio, which comprises 17 federal departments and agencies, including CED and the other five RDAs.
- The RDAs help support Canadian innovation, along with the Industrial Research Assistance Program, the Strategic Innovation Fund and the Canadian Trade Commissioner Service.
- The REGI program builds on the objectives of the Innovation and Skills Plan by providing regionally tailored, nationally consistent support for business productivity and scale-up and by helping enhance regional technology clusters and innovation ecosystems.
- In 2018, Canada's steel and aluminum industries employed more than 33,500 Canadians and contributed $8.9 billion to Canada's gross domestic product.
- To find out more about CED and its priorities, see the 2019–2020 Departmental Plan or visit www.dec-ced.gc.ca.
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SOURCE Canada Economic Development for Quebec Regions
Dani Keenan, Press Secretary, Office of the Minister of Innovation, Science and Economic Development, 343-291-1710; Media Relations, Canada Economic Development for Quebec Regions, 514-283-7443, [email protected]
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