Question Period Note: Achievements in terms of economic development in Quebec

Achievements in terms of economic development in Quebec

• Canada Economic Development for Quebec Regions is the key federal partner for regional economic development in Quebec.
• Since November 2015, Canada Economic Development for Quebec Regions has approved over 4,900 projects, amounting to a total of more than 2.4 billion dollars in funding that has generated nearly 10.9 billion dollars in investments and helped create or maintain nearly 100,000 jobs.
• Through its 12 community-focused business offices located across Quebec, CED assists businesses and the regions with a view to boosting the prosperity of our economy and our communities by supporting projects that generate long-term economic benefits.
• CED contributes to the Government of Canada’s efforts to increase the participation of under-represented groups in the economy, including women, Indigenous peoples and persons from minority groups.
• CED acts as an accelerator of economic growth: its interventions support regional innovation, the growth of SMEs and the vitality of Quebec communities.
• Since November 2015 CED’s interventions are aligned with Government of Canada priorities:
  • $1 billion for innovation projects
  • $303.5 million for clean tech projects
  • $316.4 million for tourism projects
  • $68.3 million for Indigenous projects
  • $95.2 million for women entrepreneurship projects

• CED’s mission is to promote the long-term economic development of the regions of Quebec by giving special attention to those where slow economic growth is prevalent or where opportunities for productive employment are inadequate. It also supports the transition and diversification of communities that remain dependent on a limited number of sectors, or that have been affected by an economic shock.
• CED supports businesses—mainly SMEs and the non-profit organizations (NPOs) that assist them—by making strategic investments that have a positive impact on the growth and prosperity of these businesses, thus contributing to the economic vitality of all regions of Quebec by leveraging their competitive regional advantages.
• Through its regular programs and various initiatives, CED has played a key role in the delivery of federal COVID-19 emergency response measures and is actively involved in efforts to ensure that businesses are able to invest in their recovery and long-term prosperity and contribute to community revitalization.

Examples of projects funded by CED:

• Innovation: In December 2021, CED authorized a repayable contribution of $1,000,000 to Groupe Vif Inc. a manufacturing SME in Saint-Hyacinthe that is primarily involved in the manufacture and marketing of above-ground swimming pools. The project is designed to support the company's growth through the acquisition of production equipment, including a robotic cell, automated presses, computer systems and a camera system using artificial intelligence.
• Clean tech: In January 2022, CED authorized a repayable contribution of $190,000 to FTEX Inc. an innovative Montreal-based company that designs and manufactures an intelligent motor controller that improves the performance of motors used by a wide range of electric vehicles. CED's support will be used to acquire digital equipment that will enable the firm to increase its productivity and production capacity.
• Tourism: In February 2022, CED authorized a non-repayable contribution of $100,000 to Corporation Ski & Golf Mont-Orford under the Tourism Assistance Fund (TAF), which will be used primarily for the modernization of the ski lift on Mont Alfred-Desrochers.
• Indigenous peoples: In July 2021, CED authorized a non-repayable contribution of $1,487,195 to the Chisasibi Airport, an infrastructure operated and owned by the Cree Nation of Chisasibi. The assistance provided under the Regional Air Transportation Initiative (RATI) will be used to acquire new equipment to ensure proper maintenance of the airport facilities as well as to carry out the plans and specifications for the expansion of the terminal and its components.
• Women entrepreneurship: The $500,000 repayable contribution from CED authorized to Maison et roulotte Usitech Inc. in August 2021 has enabled this manufacturer of construction trailers and housing units to acquire production equipment and expand its facilities. With these investments, the Mont-Laurier company, co-owned by a woman, will be able to increase its productivity and production capacity.
• Cultural communities: In January 2022, CED authorized a non-repayable contribution of $73,750 to Divers profils recrutement inc. a start-up company in Chibougamau that used to offer recruitment assistance services. The assistance authorized under the Tourism Assistance Fund (TAF) will allow the business to reorient its activities to offer a tourist and cultural accommodation service to visitors.

With its 12 business offices located across Quebec, CED is the key federal partner for regional economic development in Quebec. Through its regular and temporary programs CED supports regional innovation, the growth of SMEs and the vitality of Quebec communities.