The Government of Canada awards more than $460,000 to STC Manufacturier and to Distillerie du Fjord
SAGUENAY, QC, Oct. 12, 2018 /CNW/ - Canada Economic Development for Quebec Regions (CED)
STC Manufacturier and Distillerie du Fjord will be able to count on financial assistance from the Government of Canada to purchase state-of-the-art equipment to improve their productivity and increase their production capacity. Completion of their respective projects will generate total investments of close to $1.4 million.
Richard Hébert, Member of Parliament for Lac-Saint-Jean and Parliamentary Secretary to the Honourable Mary Ng, Minister of Small Business and Export Promotion, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED, announced the repayable contributions, which total $462,500.
The funding, granted through CED's Quebec Economic Development Program, will enable the recipient businesses to achieve the growth objectives they have set for themselves.
Companies must be able to rely on adequate resources in order to create and market innovative products. As such, the Government of Canada is committed to supporting innovative Canadian companies. Innovation, as true economic driver, is the key to success because it generates the growth that businesses and communities benefit from.
"STC Manufacturier and Distillerie du Fjord are two SMEs that actively contribute to the region's economic vitality. I am pleased with the support received from the Government of Canada, which is choosing to focus on innovative, dynamic small businesses that share the same desire to grow. Their success means growth for the Canadian economy."
Richard Hébert, Member of Parliament for Lac-Saint-Jean and Parliamentary Secretary to the Minister of Small Business and Export Promotion
"By helping STC Manufacturier and Distillerie du Fjord invest in equipment that will make them more productive, the Government of Canada is remaining true to its commitments of stimulating expansion, innovation and exporting."
The Honourable Navdeep Bains, Minister responsible for CED
- CED is one of the six regional development agencies under the responsibility of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.
- This year marks the 50th anniversary for federal regional economic development in Quebec: half a century of concrete action dedicated to the development of the regions and local businesses.
- For more information on CED and its priorities, consult the 2018-2019 Departmental Plan or visit https://www.dec-ced.gc.ca.
- For further details on these projects, read the associated backgrounder.
Contribution — Investments – Project Description
Repayable contribution of $95,000 out of a total investment of $190,000
A project aimed at improving STC Manufacturier's productivity and increasing its production capacity was carried out through a contribution from CED used to purchase digitally controlled equipment.
Repayable contribution of $152,500 out of a total investment of $305,000
A previous project was also carried out to improve the company's productivity and to increase its production capacity. The activities carried out under this project and funded by CED involved purchasing and installing digital equipment.
STC Manufacturier is a company that specializes in manufacturing steel doors and frames for the industrial, institutional and commercial sectors. This SME stands apart through its non-standard-oriented production and rapid manufacturing times. Founded in 1993, the company manufactures steel frames and doors for office buildings, institutions (prisons, courthouses, hospitals) and the commercial sector.
Repayable contribution of $215,000 out of a total investment of $882,500
The project aims to ensure the growth of Distillerie du Fjord by increasing its production capacity and improving its productivity. Planned activities include purchasing production equipment, automating processes, putting up a building including professional fees and increasing the working capital.
CED's contribution will go toward the purchase and installation of the new manufacturing equipment such as stills and tanks, the process automating and a portion of cost to put up the building pertaining to product manufacturing and storage.
Distillerie du Fjord is an innovative family business, founded in 2016 by a team of three entrepreneurs motivated by passion, thoroughness and a taste for innovation. Their mission is to master the art of distilling in order to create both classic and innovative alcohol products that will give spirit-lovers an experience of pleasure and taste.
SOURCE Canada Economic Development for Quebec Regions
For further information: Media Relations, Canada Economic Development for Quebec Régions, 514-283-7443, email@example.com