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, aimed at helping Quebec businesses emerge stronger from the pandemic. CED has been involved in more than 700 projects, providing assistance totalling close to $500 million.

• Through these one-off initiatives, combined with its regular programming, Canada Economic Development for Quebec Regions is contributing to a greener, more inclusive recovery.

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

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

• 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.
• CED has supported close to 300 projects, for a total of over $1 million.
• The initiative ends on 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.
• CED has supported close to 300 projects, for a total of over $1 million.
• The initiative ends on March 31, 2024.

Major Festivals and Events Support Initiative (MFESI)
* Initiative pancanadienne visant à aider les grands festivals et événements ayant des revenus de plus de 10 M$ en 2017, 2018 ou 2019, à surmonter les impacts de la pandémie et à se positionner pour le futur.
* CED has supported 8 projects, for a total of over $67 million.
* The initiative ends on March 31, 2024.

Jobs and Growth Fund (JGF)
* A pan-Canadian initiative to help businesses and the organizations that support them build resilience and
grow.
* CED has supported 104 projects, for a total of over $130 million.
* The initiative ends on 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.
* CED has supported 29 projects, for a total of over $80 million.

Examples of a project supported by the recovery initiatives:

• Canada Community Revitalization Fund (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.
  • Tourism Relief Fund (TRF): Founded by the Conseil des Innus de Pessamit and the Manicouagan Uapishka
  World Biosphere Reserve, Station Uapishka SENC operates in the field of indigenous accommodation and
  tourism. The $100k non-repayable contribution offered by CED in February 2023 will enable this joint
  venture, located in Pessamit, to modernize its tourism offering, notably through the construction of a
  utility building, the addition of a floating dock and the acquisition of utility vehicles for recreational
  tourism use.
  • Major Festivals and Events Support Initiative (MFESI): Carnaval de Québec inc. is a non-profit
  organization responsible for organizing this world-renowned winter celebration. CED has authorized a
  non-refundable contribution of $3 million, notably for the acquisition of a heated stage installed under a
  new dome, and the development of immersive experiences, including a multi-sensory winter village
  where visitors can experience Carnival in the middle of summer, encouraging them to return in winter for
  the real thrills.
  • Jobs and Growth Fund (JGF): Innoltek Inc. is a company based in Saint-Jean-sur-Richelieu that manufactures
  biodiesel and biodegradable lubricants from cooking oils, agricultural raw materials and animal fats. In
  October 2022, CED authorized a repayable contribution of $500,000 for the acquisition and installation of
  equipment to make the company's operations more environmentally friendly, as well as to adopt
  environmentally sustainable practices and improve productivity.
  • Aerospace Regional Recovery Initiative (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.