Question Period Note: CED support for potential projects

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About

Reference number:
DEC-2023-QP-00049
Date received:
Sep 13, 2023
Organization:
Canada Economic Development for Quebec Regions
Name of Minister:
Martinez Ferrada, Soraya (Hon.)
Title of Minister:
Minister responsible for the Economic Development Agency of Canada for the Regions of Quebec

Issue/Question:

CED support for potential projects

Suggested Response:

  • With its 12 community-focused business offices, Canada Economic Development for Quebec Regions is present throughout Quebec.

  • Proponents wishing to apply for funding are invited to contact the business office responsible for their area.

  • Canada Economic Development for Quebec Regions assesses each application on the basis of priorities, programs, budgets and the potential economic benefits in Quebec.

CED ensures that the projects receiving funding contribute to the achievement of government priorities while also being tailored to regional realities.

CED does not comment on its clients’ files because of the confidential nature of some of the information.

CED ensures the sound management of public funds.

Background:

  • CED will not disclose whether a funding application has been submitted for a particular project until the project has been approved.
  • CED’s mission is to promote the long-term economic development of the regions of Quebec. Some of the projects submitted to CED may be ineligible, may not be prioritized, or may not be able to obtain the full amount of funding requested by the client because of program criteria or budget availability.
  • Furthermore, all projects must contribute to the achievement of government and CED priorities, and must take regional perspectives into account, i.e., anchor sectors and actual needs on the ground.
  • Finally, the analysis of the application may reveal some risks related to the project or the proponent. This could include the client’s repayment capacity, the management team’s experience, the viability of the funding package, etc., and the client may be asked to provide appropriate mitigation measures.

Additional Information:

Canada Economic Development for Quebec Regions (CED) may be asked whether it would agree to fund a project even though a formal application has not yet been submitted. Although CED does not comment on the files of its potential clients, proponents wishing to apply for funding are invited to contact the business office in their region to receive the necessary assistance.