Government of Canada commits to the transformation of Montréal's East End with new investments Français
MONTRÉAL, Nov. 13, 2023 /CNW/ - Canada Economic Development for Quebec Regions (CED)
Supporting the development of Montréal's East End is important for the Government of Canada. This area of Montréal where stakeholders are collectively engaged has significant potential, and its revitalization will contribute to the economic vitality of the entire metropolis. It is in this context that CED has supported engagement efforts by the Chambre de commerce de l'Est de Montréal (CCEM)—including the organization of the Sommet de l'Est being held today at the Olympic Stadium.
Today, the Honourable Soraya Martinez Ferrada, Member of Parliament for Hochelaga, Minister of Tourism and Minister responsible for CED, took advantage of her participation in the Sommet de l'Est to announce significant investments in Montréal's East End: funding for eight Montréal organizations and a dedicated envelope for projects that will have economic spin-offs in the East End.
First, the Minister announced Government of Canada financial contributions totalling $11.2 million for eight Montréal organizations whose projects will produce tangible benefits in the region: Les Laboratoires MZL Inc., Collège de Maisonneuve's ITEGA, Les Aliments Merjex Inc., Aliments Ouimet-Cordon Bleu Inc., Catelli Montreal Inc. (a Barilla Group company), Unicor Industries Inc., the Centre for Commercialization of Cancer Immunotherapy (C3i), and Kotmo Inc. Additional information on the eight projects can be found in the related backgrounder.
In addition to the announced investments, Minister Martinez Ferrada also revealed that CED commits to invest $30 million in the coming years in projects that will generate economic benefits for Montréal's East End. The spending will be spread out over the life of the revitalization projects, which could take several years to complete.
The sustainable, inclusive revitalization of Montréal's East End requires the engagement and cooperation of all socio-economic players. The Government of Canada is committed to pursuing its collaboration with the Government of Quebec and the Ville de Montréal by offering its support with a view to ensuring complementarity and sustainability. Capitalizing on the unique assets of the various regions of Quebec—including those here in Montréal's East End—helps foster the country's economic growth and build a sustainable, inclusive economy.
"Today, the federal government is making a further dedicated commitment to the transformation of Montréal's East End, since we recognize its incredible potential. These investments by CED are a central component of our work to transform the East End and ensure that this part of the metropolis takes its place in tomorrow's economy. The very first Sommet de l'Est marks an important moment and, having grown up in the East End, I am proud to have contributed to its realization."
The Honourable Soraya Martinez Ferrada, Member of Parliament for Hochelaga, Minister of Tourism and Minister responsible for CED
- Since 2015, through its regular programs and special initiatives, CED has supported 98 projects with a total of $59.2 million in funding that has generated direct investments of over $231 million in Montréal's East End.
- CED is the key federal partner in Quebec's regional economic development. With its 12 regional business offices, CED accompanies businesses, supporting organizations and all regions across Quebec into tomorrow's economy.
- Government of Canada supports initiative to develop East End of Montréal's economy – Canada.ca
- D'est en Est – The East End of Montréal is taking action! (destenest.ca)
- Sommet de l'Est – Chambre de Commerce de l'Est de Montréal (ccemontreal.ca)
- CED funding initiatives and programs
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SOURCE Canada Economic Development for Quebec Regions
Media Relations, Canada Economic Development for Quebec Regions, [email protected]; Marie-Justine Torres, Press Secretary, Office of the Minister of Tourism and Minister responsible for Canada Economic Development for Quebec Regions, Cell: 613-327-5918, [email protected]
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