The Government of Canada awards $220,000 in financial assistance to this Longueuil business
Longueuil, Qc, April 15, 2019 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
Foodarom is a highly innovative company dedicated to the creation of custom food flavours. To continue its operations more effectively, it received a repayable contribution of $220,000 from Canada Economic Development for Quebec Regions. With this financial assistance, the fast-growing agri-food company has been able to develop new markets.
The funding was announced today by Sherry Romanado, Member of Parliament for Longueuil—Charles-LeMoyne and Parliamentary Secretary to the Minister of Seniors. More specifically, the Government of Canada's assistance has helped Foodarom finance a portion of its marketing activities and hire a resource dedicated to developing the brand in Europe.
Established in 2006, Foodarom Group Inc. develops, manufactures and markets a range of food flavours to crease the "signature taste" of products on the market. Its products are intended for use in all industrial and commercial food, nutraceutical and pharmaceutical market segments. Today, the company has over 135 employees working at its various sites, including 95 at its Longueuil site.
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 are committed to ensuring that businesses are able to rely on adequate resources to create and market innovative products.
"The Government of Canada has implemented a broad-based approach to supporting businesses that invest in the development of new markets. The financial assistance awarded to Foodarom is intended to provide tangible support for this company, which has demonstrated its know-how and, furthermore, is ready to explore new markets."
Sherry Romanado, Member of Parliament for Longueuil—Charles-LeMoyne and Parliamentary Secretary to the Minister of Seniors
"By supporting investment in improving productivity, creating businesses, developing products and seeking out new markets, the Government of Canada is meeting its commitments to drive expansion, innovation and exports. I commend Foodarom's ambition and the quality of its cutting-edge products."
The Honourable Navdeep Bains, Minister responsible for CED
"The financial initiatives introduced by the Government of Canada allow companies like Foodarom to develop new markets and, in doing so, promote the know-how of the local population internationally."
Pierre Miclette, President and CEO, Foodarom Group
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.
For 50 years now, the Government of Canada has been actively participating in regional economic development in Quebec: half a century of concrete action dedicated to the development of the regions and local 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