Two Laval organizations receive a total of $1.5M in financial assistance from CED.
LAVAL, QC, Feb. 28, 2025 /CNW/ - Canada Economic Development for Quebec Regions (CED)
In an increasingly competitive global economy, Quebec businesses must improve their capacity to export in order to enhance their competitiveness and productivity. The regional export promotion organizations (ORPEX organizations) are valuable allies for entrepreneurs who wish to launch into foreign markets and must adapt to ever‑changing markets. Support is also needed to grow businesses that contribute to economic development in Quebec's regions.
That is why Annie Koutrakis, Member of Parliament for Vimy and Parliamentary Secretary to the Minister of Tourism and Minister responsible for CED, today announced a total of $1,500,000 in contributions for Plastitel Products Inc. (Plastitel) and Laval économique.
Details on the financial assistance are as follows:
- Plastitel specializes in contract thermoforming of strategic plastics for the medical, transportation and water treatment industries, with expertise in complex moulding processes such as twin-sheet moulding. The business will be able to count on a repayable contribution of up to $900,000 from CED to acquire and install state-of-the-art digital production equipment. This equipment will enable Plastitel to improve its production capacity and competitiveness.
- As part of its mission as an ORPEX organization, Laval économique can count on a non-repayable contribution of $600,000 spread over three years (April 1, 2024, to March 31, 2027). The aim of CED's assistance is to offer advisory services and guidance to businesses in the Laval region to support their efforts to develop and diversify export markets. This funding is that much more important in the current context, as it will be possible to help businesses that want to export, innovate and diversify their markets to pursue their growth.
The Government of Canada recognizes and supports businesses and organizations that are a source of pride in their communities. Quebec's economic growth relies on organizations with strong roots in the regional economy; they are key assets in building a sustainable, inclusive economy.
Quotes
"Helping businesses in all regions across the country to soar is essential to build an innovative, strong, diverse economy. That is why our government is proud to support projects such as those by Plastitel and Laval économique. These investments will make it possible for Laval businesses to grow and be more competitive, as well as dynamize the region. I am delighted with this excellent news for the Laval economy."
Annie Koutrakis, Member of Parliament for Vimy and Parliamentary Secretary to the Minister of Tourism and Minister responsible for CED
"SMEs are at the core of innovation and economic growth in our communities, and our government wants to actively participate in their development. Thanks to CED's support, Plastitel will be able to improve its growth and productivity, while Laval économique will be able to assist Laval businesses with their export activities. Their contribution to the Laval region's economic vitality is important, and our entire economy will benefit from the success and spin-offs of these wonderful projects."
The Honourable Pascale St-Onge, Minister of Tourism and Minister responsible for CED
"The Ville de Laval, through Laval économique, supports Laval's exporting businesses by assessing their level of preparation, analyzing market opportunities, and helping them in their activities abroad. Thanks to CED's funding, this guidance will be reinforced to face the increase in customs tariffs and assist our businesses so they can further diversify."
Stéphane Boyer, Mayor of Laval
"This financial support enables us to accelerate our adoption of new automated technologies that will transform our production. Thanks to this equipment, we are improving our competitiveness by reducing manufacturing times, optimizing the quality of our products and decreasing the physical effort required from our employees. In addition, these innovations enable us to reduce our energy consumption and environmental footprint, which aligns perfectly with our vision of sustainable, high-performance growth."
Sabrina Bolduc, General Manager, Plastitel Products Inc.
Quick facts
- Funding has been provided 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.
- SMEs represent 99.7% of Quebec businesses and contribute to 50% of the province's GDP.
- The funding for Laval économique (Ville de Laval) was included in an announcement on January 30, 2025, on an investment of over $19M to pour support the ORPEX organizations.
- CED works complementarily with the Government of Quebec to support the regional export promotion organizations (ORPEX organizations), which guide SMEs in their commercialization activities abroad.
- CED is a 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.
Associated links
Stay connected
Follow CED on social media
Consult CED's news
SOURCE Canada Economic Development for Quebec Regions
Information: Media Relations, Canada Economic Development for Quebec Regions, [email protected]; Mohammad Hussain, Director of Communications, Office of the Minister of Tourism and Minister responsible for Canada Economic Development for Quebec Regions, Email: [email protected]
Share this article