Question Period Note: CED support for inclusive growth

CED support for inclusive growth

• Canada Economic Development for Quebec Regions is investing to build a more prosperous and inclusive economy.
• Canada Economic Development for Quebec Regions contributes to the Government’s efforts to increase the participation of under-represented groups by supporting business owners from cultural communities and minority groups.
• Canada Economic Development for Quebec Regions is actively involved with groups that have been disproportionately affected by the pandemic, such as women, Indigenous people and members of cultural communities.
  Supplementary response
• Since November 2015, CED has assisted the following client groups:
  * $50.8 million for Indigenous projects
  * $85.5 million for women entrepreneurship projects
  * $11.8 million for projects that promote the economic development of official language minority communities (OLMCs)
  * $24.6 million under the Black Entrepreneurship Program (BEP) for projects spearheaded by entrepreneurs from Black communities
• CED’s direct support has helped maintain or create nearly 1,700 jobs in businesses owned by individuals from the target groups, or in the organizations that assist them.

• Having had a disproportionate impact on certain groups and having exacerbated income disparities, the COVID-19 pandemic has highlighted the need for more inclusive growth.
• CED helps under-represented groups participate in the transition to a cleaner, more sustainable economy, and prioritizes projects by businesses or organizations that contribute to this objective. This includes both projects submitted under its regular programs and those covered under targeted initiatives such as the Women Entrepreneurship Strategy (WES), the Economic Development Initiative – Official Languages (EDI) and the Black Entrepreneurship Program (BEP).
• CED promotes the participation of Indigenous peoples in economic growth in Quebec by supporting projects from Indigenous-owned NPOs and SMEs. To facilitate access to its programs, CED has introduced more flexible intervention parameters (e.g., advantageous assistance rates) and priorities that reflect the economic reality of Indigenous peoples. In addition to its regular programs and the above-mentioned special initiatives, CED has reached out to this client group through the Regional Relief and Recovery Fund (RRRF), the Canadian Seafood Stabilization Fund (CSSF) and the Regional Air Transportation Initiative (RATI).
• CED is responsible for implementing the Women Entrepreneurship Strategy (WES)in Quebec, a national initiative to help women entrepreneurs overcome barriers to the growth of their businesses. This initiative has an annual budget of $23.5 million.
• CED is responsible for implementing the Economic Development Initiative – Official Languages (EDI) in Quebec, a national program that supports official language minority communities (OLMCs). For CED’s purposes, the program targets English-speaking communities. This initiative has an annual budget of $1.8 million.
• CED is responsible for implementing the Black Entrepreneurship Program (BEP) in Quebec, the goal of which is to encourage Black business owners and entrepreneurs in Canada to participate in the economy of their region by helping them grow their businesses. This funding program has a budget of $24.6 million for Quebec.
  Examples of projects funded by CED
• Women Entrepreneurship Strategy (WES): In 2019, CED provided Evol (Femmessor) with $5,735,823 in funding for the implementation, over a three-year period, of a project aimed at increasing the number of businesses led and owned, fully or partially, by women, and promoting the growth. CED provided Evol (Femmessor) with an additional $1,250,000 in funding to help the organization better meet an urgent and growing demand from women entrepreneurs facing the economic challenges of a pandemic.
• Economic Development Initiative – Official Languages and Indigenous project: In 2019, CED awarded a $162,744 non-repayable contribution to the Bande indienne des Micmacs de Listuguj for the development and planning of tourism-related initiatives for the Listuguj Indigenous community to support economic development on the reserve.
• Black Entrepreneurship Program (BEP): CED funds the Fonds afro-entrepreneurs in order to provide entrepreneurs from Black communities in Quebec with support services tailored to their business’s specific phase of development (start-up, growth, upscaling, structuring, etc.). The $2,995,600 non repayable contribution approved in 2021 covers a four-year period.

CED helps under-represented groups participate in the transition to a more inclusive economy, and prioritizes projects by businesses or organizations that contribute to this objective, both through its regular programs and via its targeted initiatives. Certain groups have been disproportionately affected by the pandemic, such as women, Indigenous peoples and members of Black communities.