Question Period Note: CED support for inclusive growth

CED support for inclusive growth

• Canada Economic Development for Quebec Regions is investing to build a more prosperous and inclusive economy.
• Canada Economic Development for Quebec Regions supports business owners and executives from under-represented groups and contributes to the Government’s efforts to increase the economic participation.
• Since November 2015, Canada Economic Development for Quebec Regions has backed more than 750 projects in support of entrepreneurship by under-represented groups for authorized assistance of over $386.8 million, generating total investments of over $1.2 billion.

CED promotes the participation of Indigenous peoples in economic growth in Quebec by supporting projects from Indigenous-owned NPOs and SMEs and has introduced more flexible intervention parameters that reflect their economic reality.

CED helps under-represented groups participate in the transition to a cleaner, more sustainable economy, and prioritizes projects by businesses or organizations that contribute to this objective. This includes both projects submitted under its regular programs and those covered under targeted initiatives such as the Economic Development Initiative – Official Languages (EDI) and the Black Entrepreneurship Program (BEP).

• CED promotes the participation of Indigenous peoples in economic growth in Quebec by supporting projects from Indigenous-owned NPOs and SMEs. To facilitate access to its programs, CED has introduced more flexible intervention parameters (e.g., advantageous assistance rates) and priorities that reflect the economic reality of Indigenous peoples.
• CED is responsible for implementing the Economic Development Initiative – Official Languages (EDI) in Quebec, a national program that supports official language minority communities (OLMCs). For CED’s purposes, the program targets English-speaking communities. This initiative has an annual budget of $1.8 million.
• CED is responsible for implementing the Black Entrepreneurship Program (BEP) in Quebec, the goal of which is to encourage Black business owners and entrepreneurs in Canada to participate in the economy of their region by helping them grow their businesses. This funding program has a budget of $24.6 million for Quebec. The planned end date of the initiative is March 31, 2025.
• Since November 2015, CED has assisted the following client groups:
o $134.6 million for Indigenous projects;
o $17.4 million for projects that promote the economic development of OLMCs;
o $24.5 million under the BEP for projects spearheaded by entrepreneurs from Black communities.
o $210.4 million for women entrepreneurship projects;

Project examples funded by CED:
• Regional Economic Growth through Innovation Program (REGI) – Aboriginal entrepreneurship: An integral part of the value chain of major mining contractors, Forages Avataa-Rouillier inc. is an Aboriginal-controlled joint-stock company based in Kuujjuaq that provides drilling solutions and services for mining and mineral exploration companies in Nunavik, a territory teeming with nickel, one of the critical minerals of the future. The $99,999 in non-repayable assistance authorized in June 2023, enabled the company to acquire equipment to improve its productivity. (Announced June 13, 2024)

• Economic Development Initiative – Official Languages (EDI): In July 2023, CED supported Accès Microcrédit Gaspésie-Îles-de-la-Madeleine (AMCGÎM), a non-profit organization that offers technical support, coaching and microcredit to people with limited access to conventional resources, so that they can realize their business projects and participate in the economic development of their community. The $252,152 non-repayable grant is designed to provide coaching and technical support to the region's English-speaking entrepreneurs, mainly young people, women and First Nations people.

• Black Entrepreneurship Program (BEP): In 2021, CED authorized Audace au Féminin a non-refundable contribution of $610,000 to set up a comprehensive coaching service over a four-year period (2021-2025). The project is designed to compensate for the limited range of services available to women entrepreneurs from Quebec's Black communities.

• Women Entrepreneurship: In October 2023, DEC supported J.L. Leclerc & Fils, a company specializing in the design, manufacture and assembly of mechanically welded products mainly for the energy and transportation industries. A strategic supplier to a number of major clients in sectors including electric power transmission and hydroelectricity, the Saint-Antoine-de-Tilly-based company, whose vice-president is a woman, can count on a repayable contribution of $1 million from CED to acquire and commission a digital machining center and robotized production equipment to boost its productivity. (Announced March 8, 2024)

Canada Economic Development for Quebec Regions (CED) helps under-represented groups participate fully in the economy to make it more inclusive. To this end, CED pays particular attention to projects from businesses or organizations contributing to achievement of this objective.