Question Period Note: Economic recovery in Quebec following the COVID-19 pandemic

Economic recovery in Quebec following the COVID-19 pandemic

• Canada Economic Development for Quebec Regions is actively involved in the Government of Canada’s efforts to support businesses in their recovery and long-term prosperity.

• In addition to its regular programs, Canada Economic Development for Quebec Regions is implementing 5 temporary initiatives, representing potential investments of more than 542 million dollars, to help Quebec businesses come out of the pandemic stronger than ever.

• Canada Economic Development for Quebec Regions supports sectors that have been hard hit by the pandemic, such as aerospace, tourism and major festival sectors.

• CED supports communities across Quebec who wish to enhance their vitality and contribute to social and economic cohesion.

• Through both its temporary initiatives and regular programs, CED is contributing to a greener, more inclusive recovery, and thus to rebuild better following this pandemic.

Recovery initiatives announced in Budget 2021 and implemented by CED:

Canada Community Revitalization Fund (CCRF)

• A pan-Canadian initiative to assist communities with community infrastructure projects and enhancements to existing infrastructure in order to recover from the effects of the pandemic.

• A grants and contributions budget of $101.7 million is dedicated to Quebec until March 31, 2024.

Tourism Relief Fund (TRF)

• A pan-Canadian initiative to help businesses and organizations in this sector overcome the impacts of the pandemic and position themselves for the future.

• A grants and contributions budget of $115.1 million is dedicated for Quebec until March 31, 2023.

Major Festivals and Events Support Initiative (MFESI)

• A pan-Canadian initiative to help major festivals and events with revenues of more than $10 million in 2017, 2018 or 2019, overcome the impacts of the pandemic and position themselves for the future.

• An initial grants and contributions budget of $100 million is dedicated for Quebec until March 31, 2024. The budget could be revised to $80 million in order to take into account of the eight recipients that have submitted projects.

Festivals and events that are eligible for the MFESI are:

• Osheaga

• Carnaval de Québec

• FrancoFolies de Montréal

• Festival Western de Ste-Tite

• Festival d’été international de Québec

• Montreal International Jazz Festival

• Just for Laughs

• ComediHa! Fest-Québec

• National Bank Open (Rogers Cup Montreal – Tennis Canada)

Jobs and Growth Fund (JGF)

• A pan-Canadian initiative to help businesses and the organizations that support them build resilience and grow.

• A grants and contributions budget of $135.8 million is dedicated for Quebec until March 31, 2024.

Aerospace Regional Recovery Initiative (ARRI)

• A pan-Canadian initiative to help the Canadian aerospace industry, and more specifically SMEs, emerge from the pandemic by strengthening its ability to compete on the world stage.

• A grants and contributions budget of $89.7 million is dedicated to Quebec until March 31, 2024.

Examples of a project supported by the recovery initiatives:

• CCRF: The non-refundable assistance of $73,712 authorized in March 2022 will allow the Jardin communautaire écologique Les Coccinelles de Bromont to expand and improve the gardening spaces by carrying out redevelopment work and making garden plots, some of which will be adapted for people with disabilities or reduced mobility.

• TRF: The project aims to develop the tourism offer of [ÈST] éco-cabines inc. which is a business located in Nouvelle in Gaspésie and which offers "glamping" type tourist accommodation. The $100,000 grant authorized in March 2022 allowed for the construction and development of a spa and relaxation areas.

• MFESI: The non-refundable assistance of $3,934,620, authorized in December 2021, is aimed at adapting and improving the Festival Western de St-Tite's product and experience offering, which includes a series of measures and activities designed to position the event in a post-pandemic reality and improve the customer experience.

• JGF: In June 2022, CED authorized a non-repayable contribution of $2,803,872 to Collectes Coderr, a social economy enterprise located in Alma that conducts collection, dismantling and recovery of residual materials. The CED assistance will be used to finance the expansion of the building and the addition of a disassembly line with digital equipment. Thus, this value chain based on the principles of the circular economy will be improved and its capacity to recycle and recover waste will be increased.

• ARRI: Located in Saint-Bruno in the Montreal area, Flight Test Centre of Excellence Inc. is the first independent certification center in North America serving the aerospace industry. It specializes in flight testing, research, development and certification of aircraft. As an early partner, CED authorized a repayable contribution of $2.5 million to the company in December 2022 to acquire the equipment needed to test and certify new hybrid or electric propulsion systems.

Canada Economic Development for Quebec Regions (CED) is actively contributing to the economic recovery in Quebec following the COVID-19 pandemic. Through recovery initiatives announced in Budget 2021, CED supports non-profit businesses and organizations, with a specific focus on the hardest hit sectors, such as tourism.