SOLIDE, a key partner for job creation

    VERCHERES, QC, Aug. 23 /CNW Telbec/ - SOLIDEQ, a limited partnership and
partner of the Solidarity Fund QFL (the "Fund") and the Fédération Québécoise
des Municipalités, today announced the creation of a Société locale
d'investissement dans le développement de l'emploi (SOLIDE) in the RCM of
    The announcement was made today by Jean-René Laforest, General Manager of
SOLIDEQ, René Roy, Secretary of the Solidarity Fund QFL Board of Directors and
Secretary General of the QFL, Suzanne Dansereau, President of the Lajemmerais
Centre local de développement (CLD) and Mayor of Contrecoeur, Claude Fradet,
President of the SOLIDE and Mayor of Verchères, Bernard Généreux, President of
the Fédération Québécoise des Municipalités (FQM) and Nicole Ménard,
Parliamentary Assistant to the Minister of Economic Development, Innovation
and Export and Minister of Tourism.
    Various parties contributed to the creation of this investment fund,
including the Ministère du Développement économique, de l'Innovation et de
l'Exportation ($100,000), the Caisses Desjardins of Grand Coteau, Varennes,
Verchères and Contrecoeur ($100,000), and the CLD of Lajemmerais ($50,000).
    These financial contributions made it possible to secure $250,000 from
SOLIDEQ, a company through which the Fund helps fund the SOLIDEs. A means of
ensuring economic development and job creation, the SOLIDE will provide
financial assistance in the region to encourage business start-ups and
    Mr. Laforest also took the opportunity of this announcement to unveil the
SOLIDE results for Québec as a whole. As at March 31, 2007, the 87 SOLIDEs
made 1,912 investments in as many partner companies, which helped create and
maintain 18,420 jobs with over $60 million invested and projects totalling
$731 million. These results clearly show that the SOLIDE investments, which
range from $5,000 to $50,000, have an impact across Québec.
    With assets of $7.2 billion, the Solidarity Fund QFL is present
throughout Québec by way of its 16 regional funds and 87 SOLIDEs. The Fund
also has specialty funds in various sectors of activity that contribute to
Québec's economic growth.

    Like the other SOLIDEs, the Lajemmerais SOLIDE is a not-for-profit
corporation that will manage a development capital fund. It will be run by a
board of directors comprised of individuals from the Lajemmerais RCM. The
board defines the mission and orientations, makes investment decisions and
tracks projects. As such, it is quite autonomous and can easily adapt its
interventions to meet the socio-economic needs of the RCM. The Lajemmerais CLD
was involved every step of the way in the creation of the SOLIDE and will
continue to work with its directors to offer valuable support as a fund
    The SOLIDE network was conceived and created in 1991 by the Solidarity
Fund QFL and the Fédération Québécoise des Municipalités (FQM) to help local
businesses in the regions. This network is overseen by SOLIDEQ, a company in
which the Fund has injected $30 million.

For further information:

For further information: Jean-René Laforest, General Manager, SOLIDEQ,
Limited Partnership, (418) 624-1634, Fax: (418) 624-0462,

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890