Almost $2 million in Government of Canada assistance for innovative investments by L.S. Bilodeau and PJB Industries
SAINT-MARTIN, QC, June 7, 2019 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
Canada's steel and aluminum sectors are key contributors to the Canadian economy, providing well‑paying jobs in regions across Canada.
Today, Rémi Massé, Member of Parliament for Avignon–La Mitis–Matane–Matapédia and Parliamentary Secretary to the Minister of Innovation, Science and Economic Development, announced the awarding of a total of $1,980,100 in non-repayable contributions to L.S. Bilodeau and PJB Industries, two Beauce-region companies.
This funding is being provided under the Regional Economic Growth through Innovation (REGI) Steel and Aluminum Initiative, announced in March 2019. Delivered by Canada's regional development agencies, the funding provides targeted support to Canadian small and medium-sized businesses in the steel and aluminum sectors through non-repayable contributions for projects to enhance productivity, increase competitiveness by adopting innovative technologies, and create more highly skilled jobs.
With the help of $1 million in financial support, L.S. Bilodeau Inc. will be able to enhance its productivity and increase its production capacity through the acquisition of state-of-the-art technological equipment that will allow for the development and manufacture of complex products that meet higher quality standards.
Government of Canada funding of $980,100 for PJB Industries Inc. will support the acquisition of numerically controlled equipment. The project will foster the growth of the company by improving its productivity and competitiveness, as well as creating eight well-paid jobs for the middle class by the end of 2020.
Canada's steel and aluminum companies are important contributors to our economy and to our manufacturing supply chains, providing thousands of Canadians with good middle-class jobs. This funding initiative provides small and medium-sized businesses with consistent support across all regions of Canada, while allowing for support to be tailored to meet regional needs.
"Through its strategy aimed at supporting companies in the steel and aluminum sectors, the Government of Canada has chosen to assist innovative Canadian companies that come up with new ways of creating value, and which are seeking to penetrate new markets. The funding awarded to L.S. Bilodeau and PJB Industries is intended to provide concrete support for companies that have demonstrated their know-how and are committed to ensuring their growth, as well as creating well-paid jobs for the middle class."
Rémi Massé, MP for Avignon–La Mitis–Matane–Matapédia and Parliamentary Secretary to the Minister of Innovation, Science and Economic Development
"Our government supports the hard-working steel and aluminum workers and companies that are important to regional economies across Canada. Our investments to support small and medium-sized producers and users of steel and aluminum will help these businesses innovate to drive productivity, scale up and expand into new markets to create good middle-class jobs."
The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED
Today's announcement is made on behalf of the Honourable Navdeep Bains, Minister responsible for the Innovation, Science and Economic Development portfolio, which comprises 17 federal departments and agencies, including CED and the other five regional development agencies.
Regional development agencies are one of Canada's four flagship platforms supporting innovation, along with the Industrial Research Assistance Program, the Strategic Innovation Fund and the Canadian Trade Commissioner Service.
The REGI program builds on the objectives of the Innovation and Skills Plan by providing regionally tailored, nationally consistent support for business productivity and scale-up and by helping enhance regional technology clusters and innovation ecosystems.
In 2018, Canada's steel and aluminum industries employed more than 33,500 Canadians and contributed $8.9 billion to Canada's gross domestic product.
SOURCE Canada Economic Development for Quebec Regions
For further information: Dani Keenan, Press Secretary, Office of the Minister of Innovation, Science and Economic Development, Tel.: 343-291-1710; Media Relations, Canada Economic Development for Quebec Regions, Tel.: 514-283-7443, Email: firstname.lastname@example.org