Question Period Note: Major Festivals and Events Support Initiative (MFESI)

Major Festivals and Events Support Initiative (MFESI)

• Canada Economic Development for Quebec Regions is implementing several federal relief measures targeting organizations affected by the economic impacts of the pandemic to assist them in their recovery; one such measure is the Major Festivals and Events Support Initiative.
• The initiative helps major festivals and events in Quebec affected by COVID-19 pursue their activities and adapt them to the constraints of the pandemic, as they position themselves going forward.
• Since the launch of the initiative, Canada Economic Development for Quebec Regions has supported eight projects, for a total of over 57 million dollars, generating investments of over 69 million dollars.
• Through its regular programs and specific initiatives, CED helps businesses and organizations invest in their long-term recovery and prosperity, thus contributing to the revitalization of our communities.
• CED’s activities provide support for the tourism sector—a driver of economic development throughout Quebec.

• With a national budget of $200 million over two years, $100 million has been allocated to CED to implement the IAGFE in Quebec. The expected end date of the initiative is March 31, 2023.
• The initiative supports liquidity needs in order to help businesses pursue their activities or adapt them to the new realities and requirements of the pandemic and enhance their products and experiences so they can better position themselves in the new economy.
• This initiative is in addition to a complementary investment of $200 million by Canadian Heritage to support festivals, cultural gatherings, outdoor theatre, heritage celebrations, local museum exhibits, amateur sports events and more across Canada.

Projects funded by CED:

• The goal of the $10,000,000 project is to adapt and enhance the products and experiences associated with the Montréal National Bank Open to better position the tournament in the current context by upgrading and greening the various facilities.
• The goal of the $9,480,000 project is to adapt and enhance the products and experiences associated with the Festival d’été de Québec through a series of measures and activities aimed at positioning the event in a post-pandemic reality and improving the client experience.

The initiative aims to help recurring festivals and events with over $10 million in revenue that have been hard hit by the economic impact of COVID-19 adapt and upgrade their activities as part of the economic recovery. The MFESI complements initiatives put in place by Canadian Heritage. Major festivals and events are key levers of economic activity in communities. They attract international tourists, position Canada and its regions as destinations of choice, encourage investment in Canadian tourism assets, and create jobs.