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 supported nearly 5,200 projects, for total assistance of 2.6 billion dollars that generated 11.9 billion dollars in investments.
• Through its 12 community-focused business offices located across Quebec, Canada Economic Development for Quebec Regions assists businesses and the regions in order to sustain the prosperity of our economy and our communities by promoting projects that generate long-term economic benefits.
• Aligned with Government of Canada priorities, CED’s interventions contributes to increasing the participation of under-represented groups in the economy, such as women, Indigenous peoples and persons from minority groups.
• CED is an accelerator of economic growth: through its interventions, CED support regional innovation, the growth of SMEs and the vitality of Quebec communities.

• 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 their growth and prosperity. Thereby, CED contributes to the economic vitality of all Quebec regions by building on their regional competitive 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 June 2022, CED authorized a repayable contribution of $375,000 to Talaria, laboratoire d'orthèses plantaires, S.A., a start-up manufacturing SME in Saint-Hyacinthe that works in the field of innovative foot orthotics. The project aims to support the company's growth through the acquisition and installation of new automated production equipment, the acquisition of technological tools and the redesign of the website.
• 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 March 2022, CED authorized a non-repayable contribution of $500,000 to the Abitibiwinni First Nation Council, an Indigenous organization that manages services for this community located near the town of Amos. The funding from the Tourism Relief Fund (TRF) will be used to strengthen this micro-tourism destination with the addition of a teepee that will provide visitors with an immersive sound and light experience that focuses on Indigenous values.
• Women entrepreneurship: CED's repayable contribution of $95,000 authorized to Alcyon Sel de Mer Inc. in March 2022 enabled this innovative food processing start-up to acquire production equipment and make the necessary improvements to the building. With these investments, the company, led by two young women, will be able to launch its production in the Magdalen Islands of natural sea salt produced from the water of the Gulf of St. Lawrence.
• Cultural communities: As part of the Black Entrepreneurship Program (BEP), CED is funding Fonds Afro-Entrepreneurs 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 August 2021 covers a four-year period.

With its 12 business offices located across Quebec, Canada Economic Development for Quebec Regions (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.