More support for the social economy - CED grants close to $1M for social economy projects in Quebec

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Canada Economic Development for Quebec Regions

Nov 29, 2024, 12:30 ET

MONTRÉAL, Nov. 29, 2024 /CNW/ - Canada Economic Development for Quebec Regions (CED)

For decades, the social economy has been part of Quebec's DNA. Solutions to complex problems are found when all community players work together. The Honourable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for CED, is announcing close to $1 million to support social economy projects in Quebec:

  • Groupe TAQ (Ateliers T.A.Q. inc.): Two repayable contributions, one in the amount of $181,721 and one in the amount of $113,624, to develop a food room and to acquire new equipment for the plant in Amqui in the Bas-Saint-Laurent region.
  • ADDERE Service-conseil: A non‍-‍repayable contribution of $500,000 to guide businesses and organizations in the Estrie region in their journey towards eco‍-‍responsibility.
  • Groupe RCM: A repayable contribution of $154,666 to support recycling in the Mauricie region and to promote sustainable development.

The aim of these investments is to strengthen these organizations' competitiveness and sustainability. As part of their mission, they are committed to integrating social and environmental impacts into economic development.

Recognized for its key role in fostering a dynamic economy and innovation in Quebec, CED intends to focus more on the social economy in order to respond even more and more effectively to the needs of businesses and communities in all regions across Quebec. To this end, Minister Martinez Ferrada announced funding on November 28, 2024, totalling $5 million for social economy mutualization projects. This is in addition to a call for social innovation projects with a budget of $1 million for Montréal's East End, and $2.3 million provided for the Chantier de l'économie sociale for strategic business mentoring.

Building the economy of tomorrow and ensuring the long-term prosperity of SMEs and communities requires more inclusive and sustainable growth. The Government of Canada recognizes the diversity and potential of the different economic stakeholders in Quebec and the key role the social economy plays in a dynamic economy in its regions.

Quote

"The social economy is key to economic development in Quebec and represents an important lever in the regions. It tackles increasingly complex economic and social challenges. The aim of this new economic approach is to deliver benefits to communities and protect the common good by responding directly to the needs and aspirations of our communities. By supporting these organizations, we are encouraging economic development and inclusive growth."

The Honourable Soraya Martinez Ferrada, Member of Parliament for Hochelaga, Minister of Tourism and Minister responsible for CED

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.
  • 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.

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SOURCE Canada Economic Development for Quebec Regions

Information: Media Relations, Canada Economic Development for Quebec Regions, [email protected]; Jean-Christophe Armstrong, Press Secretary, Office of the Minister of Tourism and Minister responsible for Canada Economic Development for Quebec Regions, Cell: 343-543-7313, Email: [email protected]

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Canada Economic Development for Quebec Regions

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Government of Canada