Canada Economic Development for Quebec Regions invests to help businesses in the aluminum industry to grow and create jobs.
CHICOUTIMI, QC, Aug. 19, 2020 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
The aluminum industry is essential for our regional economies, playing an important role in our supply chains. The sector offers good jobs to thousands of Canadians, with over 60% of workers located in Quebec.
In accordance with the agreement outlined in CUSMA and to guarantee the sourcing and origin of aluminum used by our businesses, the sums announced today will enable the industry to ensure better traceability from foundry to border.
Ensuring the future of Canadian aluminum
The future of Canadian aluminum relies, among other things, on our ability to clearly identify the source of the aluminum. With this in mind, in partnership with the Aluminium Association of Canada (AAC), which will manage CED's investment, the Minister of Economic Development and Official Languages, the Honourable Mélanie Joly, is announcing a non-repayable contribution of close to $5 million.
The project aims to boost the commercialization of Canadian aluminum products by equipping the industry with a traceability system that makes it possible to authenticate and document the origin of products throughout the value chain. This financial assistance will benefit many businesses operating across Quebec and Canada and will help to maintain favourable conditions for the development of the aluminum industry.
In addition to this support for the AAC, Saguenay businesses Canmec and Staca are receiving, respectively, repayable contributions of $500,000 and $133,470 for their projects, enabling them to promote economic growth by adopting innovative technologies and processes. This financial assistance from CED boosts the businesses as they enhance their productivity, particularly by acquiring digital and automated equipment, diversifying their offering and modernizing their facilities.
Today's announcement is further proof of the Government of Canada's commitment to the aluminum industry. By supporting it in the pursuit of its activities, the Government is helping Quebec businesses in the sector to play a major role in Canada's economic recovery.
"In this time of uncertainty, we are here for the aluminum sector and to support all of the jobs it represents. That is what today's announcement illustrates: by supporting the Aluminium Association of Canada, Canmec and Staca, we are continuing to boost the industry in its efforts around innovation and traceability. Together, we can make a difference for the economy and people of Saguenay—Lac-Saint-Jean, Quebec and all of Canada."
The Honourable Mélanie Joly, Member of Parliament for Ahuntsic-Cartierville, Minister of Economic Development and Official Languages and Minister responsible for CED
- In 2019, the aluminum production sector was the second largest export sector in Quebec, after aerospace. Exports in the sector accounted for over 7% of Quebec's total exports (compared to 12% for aerospace).
- The AAC is an NPO with a mission to represent the Canadian primary aluminum industry among the public, users, public authorities and key stakeholders in the economic and environmental worlds.
- The Honourable Mélanie Joly is the minister responsible for the six regional development agencies (RDAs), including CED.
- Funds are being granted under CED's Regional Economic Growth through Innovation program.
- CED is a key federal partner in Quebec's regional economic development. With its 12 regional business offices, CED is accompanying businesses, supporting organizations and all regions across Quebec into tomorrow's economy.
- The six RDAs ensure that Canada's regions are heard in Ottawa and that local economies and businesses receive the support they need to grow and prosper.
SOURCE Canada Economic Development for Quebec Regions
For further information: Media Relations, Canada Economic Development for Quebec Regions, [email protected]; Alexander Cohen, Press Secretary, Office of the Minister of Economic Development and Official Languages, [email protected]