Government of Canada grants over $740,000 to Brownsburg Electronik, Cristini North America and the Fonds d'Emprunt Communautaire Féminin
MONTRÉAL, Feb. 22, 2018 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
Regardless of the size of their projects, entrepreneurs help communities strategically diversify their economies and develop regional competitive advantages. They are also a sure source of employment in communities across Quebec. Supporting community transition and diversification is a priority for the Government of Canada.
Acting on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED, Stéphane Lauzon, Member of Parliament for Argenteuil–La Petite-Nation and Parliamentary Secretary for Sport and Persons with Disabilities, announced that Brownsburg Electronik Inc. and Cristini North America, together with the Fonds d'Emprunt Communautaire Féminin (FECF), also known as the Fonds d'emprunt des Laurentides, will share a total of $744,000 in financial assistance.
The two Lachute companies will receive repayable contributions through CED's Quebec Economic Development Program, helping them implement their expansion projects by increasing their production capacity and market shares. These projects will also create 13 quality jobs for middle-class Canadians.
A non-repayable contribution has been granted to FECF under the Official Languages Economic Development Initiative (EDI) so that it can offer business start-up support services to the anglophone community in the Laurentides RCM.
"The Government of Canada seeks to foster a creative, inclusive entrepreneurial society. I am pleased with the financial assistance awarded to the Fonds d'Emprunt Communautaire Féminin for English-speaking entrepreneurs in our region, as well as with the support for two Lachute businesses that are known for their dynamism, boldness and capacity for innovation. These contributions will help them continue to develop and to generate economic growth and quality jobs."
Stéphane Lauzon, Member of Parliament for Argenteuil–La Petite-Nation and Parliamentary Secretary for Sport and Persons with Disabilities
"We have made a commitment to invest in growing our economy, strengthening the middle class and helping those working hard to join it. That is why we support entrepreneurs, small business owners and organizations that are essential for the economic growth of communities in Canada."
The Honourable Navdeep Bains, Minister responsible for CED
- CED is responsible for implementing the Official Languages Economic Development Initiative (EDI) in Quebec.
- The EDI is a component of the Roadmap for Canada's Official Languages 2013-2018 and aims to foster the economic development of official language minority communities (OLMCs) through a range of activities including innovation, entrepreneurship, partnerships and economic diversification.
- CED is one of the six regional development organizations under the responsibility of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.
- For more information on CED's key directions until 2021, consult Strategic Plan 2021 or visit www.dec-ced.gc.ca.
- For more information on these three projects, please refer to the related backgrounder.
Contribution – Investment – Project description
Fonds d'Emprunt Communautaire Féminin (also known as the Fonds d'emprunt des Laurentides)
Non-repayable contribution of $204,000 out of a total investment of $960,904
This three-year project offers business start-up support for the anglophone community in the Laurentides region. Activities are personalized according to needs and pathway of future entrepreneurs and include training, microcredit, networking, canvassing and promotion activities. Funding provided by CED covers the salaries of three employees and promotion of the organization's services.
Repayable contribution of $400,000 out of a total investment of $1,480,560
Repayable contribution of $140,000 out of a total investment of $450,000
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SOURCE Canada Economic Development for Quebec Regions
For further information: Media Relations, Canada Economic Development for Quebec Regions, 514-283-7443, email@example.com