Minister Mélanie Joly announces close to $2.5M in Government of Canada support for Laval businesses and organizations to advance technological development.
Quebec’s future and economic recovery depend on the vigour of homegrown businesses and organizations. For several years now, the Government of Canada has set itself the mandate to support them, ultimately to benefit of citizens.
The Minister of Economic Development and Official Languages, the Honourable Mélanie Joly, today announced financial assistance totalling $2,444,286. This support will enable the entrepreneurial ecosystem to grow and recipients to effectively kickstart their activities despite the impacts the health crisis may have had on them.
Support for Chambre de commerce et d’industrie de Laval in accompanying SMEs affected by COVID-19
The repercussions the health crisis is having on the Laval economy are significant, and some regional organizations need assistance to structure their operations, manage cashflow and adapt to the COVID-19 situation to pursue their activities.
That is why CED is granting a non-repayable contribution of $544,660 to the Chambre de commerce et d’industrie de Laval. This will enable the organization to offer technical assistance services to businesses and NPOs affected by the economic impacts of COVID-19 so they can benefit from the expertise and accompaniment of specialized resources. This will ensure they are better positioned for the economic recovery.
Fostering innovation to strengthen Greater Montréal economy
The Greater Montréal region is home to thousands of entrepreneurs with innovative ideas and dynamic organizations helping to boost the vitality of their community by creating quality jobs and enhancing the regional economic fabric.
It is with this in mind that CED is working in synergy with Quebec’s business incubators and accelerators to leverage innovation to grow the Quebec economy. These incubators and accelerators offer critical support for young innovative businesses with strong growth potential (start-ups) at all stages of their existence and are hot beds for talent and innovation. This is especially the case with the Centre québécois d’innovation en biotechnologie (CBIQ) and the Campus des technologies de la santé (CTS), which are receiving a non-repayable contribution of $1.5 million. The CBIQ and CTS will establish the MEDx program to support and accelerate the development of start-ups in the field of health care technologies.
CED is also supporting Laval businesses Group Elite Communications and SynergX Technologies with up to $399,626 to enable them to enhance their productivity and market their innovative solutions internationally.
“Homegrown businesses, regardless of their size, are key to kick-starting our economy. Helping them innovate so they can enhance their competitiveness and create jobs for Quebecers is thus at the heart of our priorities. With today’s announcement, our message is clear: we are here for Quebec with concrete measures and we are working with homegrown businesses to create jobs for Quebecers and rebuild a stronger economy.”
The Honourable Mélanie Joly, Member of Parliament for Ahuntsic-Cartierville, Minister of Economic Development and Official Languages and Minister responsible for CED
“While the current pandemic is having major repercussions at various levels, we will fight fiercely, including for the Laval region’s economic development, so that our residents can continue to work and ensure their family’s financial security.”
Fayçal El-Khoury, Member of Parliament for Laval—Les Îles
“The economy is recovering, and we are supporting our homegrown entrepreneurs as they demonstrate dynamism, innovation and resilience. In this way, we are helping them kick-start our local economy now more than ever, thereby fostering the economic development of our community as well as the prosperity of Laval residents.”
Angelo Iacono, Member of Parliament for Alfred-Pellan
“As Member of Parliament for Vimy, I would like to thank Minister Joly for her commitment to Laval’s economic development. I am proud to play a part and to see businesses in our region take flight.”
Annie Koutrakis, Member of Parliament for Vimy
“Since being elected in 2015, I have been proud to advance the economic development of my region, and I reiterate my support for our government, which is offering essential assistance and a more prosperous future for Laval businesses.”
Yves Robillard, Member of Parliament for Marc-Aurèle-Fortin
Quick facts
The Honourable Mélanie Joly is the minister responsible for the six regional development agencies (RDAs), including CED.
CED is a key federal partner in Quebec’s regional economic development. With its 12 regional business offices, CED is accompanying businesses, supporting organizations and all regions across Quebec into tomorrow’s economy.
The repayable contributions for the two SMEs and the non-repayable contribution for the Centre québécois d’innovation en biotechnologie are being granted under the Regional Economic Growth through Innovation (REGI) program, which aims to help Quebec SMEs to develop through innovation, among other things.
The non-repayable contribution for the Chambre de commerce et d’industrie de Laval is being granted through the Regional Relief and Recovery Fund (RRRF). With a total budget of close to $1 billion, the RRRF will dedicate $211 million to supporting Quebec businesses and NPOs. Through this initiative, emergency funds to cover cashflow needs as well as technical assistance are being offered to Quebec businesses and NPOs.
SOURCE Canada Economic Development for Quebec Regions
For further information: Media Relations, Canada Economic Development for Quebec Regions, [email protected]; Alexander Cohen, Press Secretary, Office of the Minister of Economic Development and Official Languages, [email protected]
OTTAWA – Statistics Canada says the country’s merchandise trade deficit narrowed to $1.3 billion in September as imports fell more than exports.
The result compared with a revised deficit of $1.5 billion for August. The initial estimate for August released last month had shown a deficit of $1.1 billion.
Statistics Canada says the results for September came as total exports edged down 0.1 per cent to $63.9 billion.
Exports of metal and non-metallic mineral products fell 5.4 per cent as exports of unwrought gold, silver, and platinum group metals, and their alloys, decreased 15.4 per cent. Exports of energy products dropped 2.6 per cent as lower prices weighed on crude oil exports.
Meanwhile, imports for September fell 0.4 per cent to $65.1 billion as imports of metal and non-metallic mineral products dropped 12.7 per cent.
In volume terms, total exports rose 1.4 per cent in September while total imports were essentially unchanged in September.
This report by The Canadian Press was first published Nov. 5, 2024.
