Lachute business receives $105,000 in financial assistance from CED.
LACHUTE, QC, Oct. 14, 2022 /CNW/ - Canada Economic Development for Quebec Regions (CED)
Supporting manufacturers contributes to economic development in Quebec's regions. That is why Stéphane Lauzon, Member of Parliament for Argenteuil–La Petite‑Nation and Parliamentary Secretary to the Minister of Rural Economic Development, today announced, on behalf of the Honourable Pascale St‑Onge, Minister of Sport and Minister responsible for CED, a repayable contribution of $105,000 for Titan Spas. This CED support will enable the Lachute SME to increase its productivity and production capacity in manufacturing spa covers.
Founded in 2018, family business Titan Spas began in the area of refurbishing used spas. Today, its plant includes three units, including one for the manufacture of new spas, another for the reconditioning of used spas, and a third for the manufacture of spa covers to protect the tank and insulate it against temperature variations.
CED's contribution has enabled the business to acquire and install production equipment, including an automated vinyl cutter and sewing machines for assembly. In addition, this project will lead to the creation of 10 jobs.
The Government of Canada recognizes and supports businesses and organizations that are a source of pride in their communities. Quebec's economic recovery relies on a manufacturing sector with organizations that have strong roots in the regional economy. The players in this industry are major contributors to growth, as well as key assets in rebuilding a stronger, more resilient, greener, and more just economy for all.
"Today's announcement is proof once again of the Government of Canada's commitment to Lachute's manufacturers, in line with our economic recovery plan. By helping them pursue their operations and by stimulating their growth, the government is helping to ensure Quebec's manufacturing industry plays a major role in Canada's economic recovery."
Stéphane Lauzon, Member of Parliament for Argenteuil–La Petite‑Nation and Parliamentary Secretary to the Minister of Rural Economic Development
"The manufacturing industry is a pillar of our economy, which is why our government is committed to investing to ensure our SMEs remain competitive and innovative. Thanks to CED's support, Titan Spas will increase its capacity to produce spa covers by purchasing automated equipment. The success and spin-offs of this project will boost the economic vitality of Lachute and the entire Laurentides region. Congratulations!"
The Honourable Pascale St‑Onge, Member of Parliament for Brome–Missisquoi, Minister of Sport and Minister responsible for CED
"We are very pleased today to be able to attest to the benefits of the financial assistance CED has granted us. In fact, this support has enabled us to implement a project we have spent a great deal of effort on since 2017. Thanks to this assistance, we have been able to bring all our spa cover production back home to Canada. Local production is of enormous benefit to Canadians, at the level of jobs and product quality, something we are very proud of. That is why we would like to thank CED for its commitment and its contribution."
Maxime Soucis, Executive Director, Titan Spas
Quick facts
- The funds have been granted under CED's Regional Economic Growth through Innovation program. This program targets entrepreneurs leveraging innovation to grow their businesses and enhance their competitiveness, as well as regional economic stakeholders helping to create an entrepreneurial environment conducive to innovation and growth for all, across all regions.
- SMEs represent 99.7% of Quebec businesses and contribute to 50% of the province's GDP.
- CED is a 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.
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SOURCE Canada Economic Development for Quebec Regions
Media Relations, Canada Economic Development for Quebec Regions, [email protected]; Ariane Joazard-Bélizaire, Press Secretary, Office of the Minister of Sport and Minister responsible for Canada Economic Development for Quebec Regions, [email protected]
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