Canada invests CAD $7.3m to boost Quebec business growth

The Government of Canada has announced investments of over CAD $7.3 million in eight projects aiming to bolster local business growth in Quebec's Outaouais and Laurentides regions.

The Honourable Soraya Martinez Ferrada, Member of Parliament for Hochelaga and Minister responsible for Canada Economic Development for Quebec Regions (CED), together with Stéphane Lauzon, Member of Parliament for Argenteuil‒La Petite-Nation, revealed the funding allocation. The investment is set to aid businesses in acquiring new equipment, improving performance, and enhancing their profiles.

The recipients of the funding include the Bureau du cinéma et de la télévision des Laurentides, Camping Ange-Gardien, Fab Structures, Lauzon-Distinctive Hardwood Flooring, Mountain Granite, Montebello Sport Culture, Restaurant le Bistro (Les produits Bistro Montebello), and Top Glaciers. These enterprises are expected to utilise the funds to contribute to the development and diversification of their local economies.

Minister Martinez Ferrada stated, "My vision for economic development in Quebec is based on strong relationships with businesses in all regions across our province. By supporting entrepreneurs and organizations, we are giving each region the tools they need to prosper and adapt to the challenges of a modern economy. These investments will strengthen the competitiveness of our businesses in the Outaouais and Laurentides regions."

Stéphane Lauzon highlighted the importance of regional economic development, saying, "Boosting business development in all regions across the country is essential to build a strong, inclusive economy. With this objective in mind, we are investing in innovative, promising initiatives such as those supported by CED today. Thanks to the synergy among local businesses, economic partners and communities, we are fostering sustainable development to the benefit of all."

These investments align with the Government of Canada's recognition of small and medium-sized enterprises (SMEs) as critical to Quebec's economy. SMEs account for 99.7% of the province's businesses and contribute 50% to its GDP.

CED plays a pivotal role as the federal partner in Quebec's regional economic initiatives. It operates through 12 regional business offices to support enterprises and organisations in adapting to economic challenges and leveraging future opportunities.