$800,000 in Government of Canada funding for an innovative project by Usimax
SAINT-GEORGES, QC, Aug. 15, 2019 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
Steel and aluminum companies are key players in our economy and our supply chains, providing good jobs for thousands of middle-class Canadians.
Today, the Honourable Diane Lebouthillier, Member of Parliament for Gaspésie–Les Îles-de-la-Madeleine and Minister of National Revenue, announced the awarding of an $800,000 non-repayable contribution to Usimax Inc., a business in Saint-Georges (Beauce) in the Chaudière-Appalaches region.
This financial support from the Government of Canada will allow Usimax to increase its productivity by acquiring and implementing specialized CNC (numerical control) machinery. Usimax will also be able to manufacture ultra–high precision ground gears for heavy power transmission applications.
Usimax designs, manufactures and assembles a wide range of speed reducers and specialized gears. The company also offers customized machining based on client requirements. Its products can be found in a number of fields: aerospace, defence and the rail and agriculture sectors, as well as in medical devices and various types of vehicles.
The funding was awarded under the Regional Economic Growth through Innovation (REGI) Steel and Aluminum Initiative announced in March 2019.
Administered by the regional development agencies (RDAs), this initiative provides targeted support for Canada's small and medium-sized businesses (SMEs) in the steel and aluminum sectors. Non-repayable contributions will allow these SMEs to adopt innovative technologies in order to enhance their productivity or competitiveness and create highly skilled jobs.
"By introducing a strategy to support businesses in the steel and aluminum sectors, our government has chosen to support innovative Canadian businesses that are creating value and looking to capture new markets. The financial assistance awarded to Usimax aims to provide concrete support for a company that has demonstrated its know-how and its commitment to growth, and is creating well-paid jobs for the middle class."
The Honourable Diane Lebouthillier, MP for Gaspésie‒Les Îles-de-la-Madeleine and Minister of National Revenue
"Our government supports Canadian workers in the steel and aluminum sector, as well as businesses that play a key role in regional economies. Our funding assists Canadian SMEs that produce or use these metals, and helps them innovate so they can increase their productivity, grow, capture new markets and create good jobs for the middle class."
The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and 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 RDAs.
- The RDAs help support Canadian innovation, as do 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 industry 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.
SOURCE Canada Economic Development for Quebec Regions
For further information: 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@example.com