Government of Canada awards nearly $500,000 to two Bas‑Saint‑Laurent businesses
TROIS-PISTOLES, QC, March 26, 2019 /CNW/ - Canada Economic Development for Quebec Regions (CED)
OrganicOcean and GO Usinage will be able to continue to grow by receiving a total of $497,042 in repayable contributions from Canada Economic Development for Quebec Regions. With that financial assistance, the two businesses were able to purchase specialized equipment to better meet demand.
Rémi Massé, Member of Parliament for Avignon–La Mitis–Matane–Matapédia and Parliamentary Secretary to the Minister of Innovation, Science and Economic Development, made the announcement today. The funding, awarded by the Government of Canada under CED's Quebec Economic Development Program, will enable the recipient businesses to achieve the objectives that they have set for themselves. By carrying out their respective projects, they will generate total investments of more than $2 million and create 12 jobs in the Bas‑Saint‑Laurent region.
The Government of Canada is committed to establishing close partnerships with Quebec businesses to support their efforts to innovate and increase their productivity and competitiveness, while contributing to the economic vitality of the regions, job creation and a better quality of life for citizens.
"I am delighted with the Government of Canada's financial support for these businesses in our beautiful Bas-Saint-Laurent region, known for their drive, boldness and innovative spirit. These contributions will enable them to continue to develop and generate benefits for the entire community."
Rémi Massé, Member of Parliament for Avignon–La Mitis–Matane–Matapédia and Parliamentary Secretary to the Minister of Innovation, Science and Economic Development
"In line with our commitment to foster growth for the Canadian economy, the Government of Canada's goal is to provide better support for businesses that are making investments to improve their productivity and ensure their growth and that of the Canadian economy."
The Honourable Navdeep Bains, Minister responsible for CED
"Agriculture has undergone major changes in recent decades, and the routine use of biostimulants in crop management is the next big shift in the global agricultural industry. CED's financial assistance will enable OrganicOcean to increase its productivity and competitiveness in international markets."
Martin Poirier, President, OrganicOcean Inc.
"I am pleased that CED is participating in our steadily growing projects in the machining market. With a partner such as CED, we can continue to innovate and improve our production—and I can create and maintain quality jobs in our region."
Michel Ouellet, President, Go Usinage
- Today's announcement is made on behalf of the Honourable Navdeep Bains, Minister responsible for the Innovation, Science and Economic Development portfolio, which is comprised of 17 federal departments and agencies, including CED and the other five regional development agencies.
- For more information on CED and its priorities, consult the 2018-2019 Departmental Plan or visit www.dec-ced.gc.ca.
- For 50 years now, the Government of Canada has been actively participating in regional economic development in Quebec: half a century of concrete action targeting the growth of Quebec's regions and businesses.
For more details on the projects, please see the attached backgrounder.
Contribution — Investments – Project Description
Repayable contribution of $377,980 out of a total investment of $1,716,103
Founded in 2009, OrganicOcean specializes in developing and manufacturing innovative and sustainable plant nutrition technologies. The company has developed a unique line of biostimulants to complement fertilizers and protection products intended for the agricultural, horticultural and turf segments. OrganicOcean integrates sustainable harvesting of fresh seaweed into proprietary processing and formulation processes. OrganicOcean contributes to building a sustainable economy by developing high‑value‑added green technologies.
The investments enabled the company to purchase new processing equipment, upgrade the production infrastructure of the Trois‑Pistoles plant and increase the production capacity of its seaweed extract and by‑products. CED's contribution is for purchasing processing equipment.
The project will consolidate the existing 8 full‑time and 12 seasonal jobs, in addition to creating 10 jobs by 2020.
Repayable contribution of $119,062 out of total investment of $287,157
Incorporated in 2015, GO Usinage is a company specializing in the design, manufacture, modification and assembly of high‑quality equipment parts intended primarily for manufacturing customers in a number of areas, including transportation, mining and forestry. The products manufactured by the SME are made of various types of ferrous and non-ferrous metal, and plastics.
The project aims to make the company more competitive by increasing its production capacity and productivity through the purchase of digital production equipment and the development of management capabilities. CED's contribution served for purchasing and installing a digitally controlled machining lathe and toolroom lathe.
The project helped maintain four existing full-time jobs and one part-time job, and resulted in the creation of two new jobs.
SOURCE Canada Economic Development for Quebec Regions
For further information: Media Relations, Canada Economic Development for Quebec Regions, Phone: 514-283-7443, Email: [email protected]