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 April 2020, Canada Economic Development for Quebec Regions has supported more than 2,700 projects, for total assistance of 2.0 billion dollars that generated 9,6 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 through projects that generate long-term economic benefits.

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 pays particular attention to regions experiencing slow economic growth, or those lacking sufficient opportunities for productive employment. CED adapts its intervention approach to the challenges faced by communities, in order to foster the emergence and success of promising projects for economic development.

DEC currently manages a portfolio of active projects worth over $3 billion.

• 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.
• CED has a number of intervention tools within its regular programs that enable it to support Quebec regions facing particular challenges. By doing more than financing promising projects, Canada Economic Development for Quebec Regions is a facilitator that helps bring the right partners together around a given project.
• Quebec's small businesses and future entrepreneurs can count on CED as a one-stop shop to guide them, accompany them and refer them to the right resources, including its programs in support of their development projects, in collaboration with ecosystem players. In 2024-2025, over 6,000 requests for strategic information, referrals and market information were answered.
• Canada Economic Development's 2025-2026 grants and contributions budget for Quebec regions is $252.4 million.
• CED analyzes each funding request according to government priorities, program criteria and available budgets.

Examples of projects funded by CED
• Innovation: In February 2023, CED authorized a repayable contribution of $300,000 to Stathera Inc. an innovative Montreal-based company specializing in deep semiconductor technologies. The assistance will be used to purchase test equipment to accelerate the commercialization of the products it is developing (Announced August 21, 2024).
• Indigenous peoples: Integrated into the value chain of major mining contractors, Forages Avataa-Rouillier inc. is an Aboriginal-controlled 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 assistance authorized in June 2023, enabled the company to acquire equipment to improve its productivity. (Announced June 13, 2024).
• Cultural communities: Owned by people from the Black community, Les Aliments Merjex Inc. produces and markets organic Tempeh, a plant-based protein that is part of a sustainable diet. The authorized $50,000 in repayable assistance has enabled this Montreal East business to acquire equipment that will enable it to increase its production capacity and promote circularity in its operations. (Announced in November 2023 at the Sommet de l'Est).
• Quantum: In June 2023, CED authorized a non-repayable contribution to Numana, a technology innovation catalyst organization that facilitates and enhances technology transfers within the information and communication technology (ICT) ecosystem. The $3.6 million grant will be used to set up a test bed for a world-class quantum communications network between Montreal, Sherbrooke and Quebec City. This will enable dozens of companies to test and demonstrate their new technological innovations. This network will place Quebec among the world leaders in quantum communications. (Announced October 23, 2023).

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.