Boisbriand business to receive $750,000 in financial assistance from CED to help Quebec's economy make the green transition.
BOISBRIAND, QC, Feb. 9, 2024 /CNW/ - Canada Economic Development for Quebec Regions (CED)
SMEs have a key role to play in ensuring Quebec's economy makes the environmental transition. They seek to innovate and grow by becoming more competitive in a greener world. That is why the Honourable Marie‑Claude Bibeau, Minister of National Revenue, on behalf of the Honourable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for CED, today announced a repayable contribution of $750,000 for Damotech. This CED support will enable the business to improve its productivity and competitiveness by acquiring automated digital equipment.
Damotech is an innovative business that has been specializing in the manufacture of safety solutions to repair and protect industrial storage systems for over 30 years. Committed to an eco‑friendly approach for many years now, it has a LEED‑certified plant, and the very nature of its activities helps to prolong the service life of its clientele's facilities. To be able to meet the growing demand for its products and double its production capacity by 2026, the business must enhance its productivity and acquire new digital machining components. CED's funding covers the acquisition of a laser cutter and automated assembly cells, including the necessary accessories and peripheral equipment.
A sustainable, just, and more inclusive economic growth relies, among other things, on businesses making the green shift. The Government of Canada supports SMEs by fostering sustainable development across all Quebec regions. Adapted programs and services are available to accelerate the implementation of innovative projects, the adoption of clean technologies, and the development of greener products. In this way, CED is providing concrete assistance for Quebec's businesses, entrepreneurs, and workers to better position themselves and seize opportunities arising out of an economy in transition.
"Businesses such as Damotech recognize the importance of developing cutting‑edge technologies that are more adapted to the new environmental realities of today and create the jobs of the future. That is why our government is supporting Damotech in this project, which will enable it to robotize and automate part of its production, while also improving the quality of its products. Congratulations to the entire Damotech team. You are an example to us all!"
The Honourable Marie‑Claude Bibeau, Minister of National Revenue
"Manufacturing businesses are essential to the green transition and for economic development in Quebec. That is why our government is proud to support them through CED so they can remain competitive and innovative in the economy of tomorrow. Congratulations to Damotech on this wonderful project and thank you for taking part in Quebec's economic growth."
The Honourable Soraya Martinez Ferrada, the Minister of Tourism and Minister responsible for CED
"At Damotech, we are proud of our commitment to a sustainable economy, long expressed through our LEED‑certified building and eco-friendly operations. CED's support propels us into the future, enabling us to strengthen our competitiveness and productivity by integrating specialized automated equipment. Thanks to this assistance, we will be able to accelerate our growth, while also making an active contribution to Quebec's green transition and the creation of additional jobs in the province. Together, we will build a sustainable future."
Eric Naaman, President, Damotech
- According to a 2022 survey by Canadian Manufacturers & Exporters, 90% of Canadian manufacturing SMEs have not begun their transition to net‑zero emissions. Yet, SMEs generate approximately 30% of Canada's total GHG emissions.
- 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.
- The funding announced today has been granted under the Jobs and Growth Fund (JGF) program. This program targets businesses and economic organizations to help them prepare local economies for long‑term growth. It involves strategic investments in projects aimed at reducing Canada's environmental impact and fostering a green, resilient economy.
- Damotech
- CED funding initiatives and programs
- 2022 Canadian Manufacturers & Exporters survey
- Canada's 2030 Emissions Reduction Plan
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SOURCE Canada Economic Development for Quebec Regions
Information: 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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