Minister Mélanie Joly announces more than $1.5M in support from Canada Economic Development for Quebec Regions for an organization and a group of businesses based in Gatineau.
Quebec’s future and economic recovery depend on the strength of its businesses and organizations. For many years now, the Government of Canada has been committed to supporting these businesses and organizations for the ultimate benefit of Quebecers.
The Honourable Mélanie Joly, Minister of Economic Development and Official Languages, visited the Outaouais region today to announce a total of $1,553,448 in financial assistance. This funding will help expand the entrepreneurial ecosystem and allow recipients to continue operating despite the impact of the health crisis.
Five forward–looking projects to strengthen the local economy
The Outaouais region is home to hundreds of dynamic entrepreneurs and organizations with innovative ideas, which help stimulate their communities by creating high–quality jobs and boosting the local economy.
With this in mind, CED is providing $1,263,448 in support to five projects related to business start–up and growth and international marketing.
The health crisis has had a major impact on the Outaouais economy, and a number of the region’s organizations need help to structure their operations, manage their cash flow and adapt to COVID–19 in order to continue operating.
CED is therefore providing $290,000 to ID Gatineau so that from now until March 31, 2021, it can offer technical assistance to businesses and NPOs affected by the economic fallout of COVID–19 located in the Gatineau, Hull and Aylmer areas. These businesses and organizations will be able to draw on the expertise and support of specialized resources to better prepare for the economic recovery.
Quotes
“Across the country, local businesses are contributing to the recovery of our economy. We therefore consider it a top priority to help them innovate to increase their competitiveness and create jobs for Quebecers. With today’s announcement, our message is clear: we are taking concrete action to support Quebec and are working with local businesses to create jobs for Quebecers and relaunch our economy.”
The Honourable Mélanie Joly, MP for Ahuntsic-Cartierville, Minister of Economic Development and Official Languages and Minister responsible for CED
“Gatineau is home to an outstanding business community whose dynamic nature is not only a source of pride, but also a source of vitality and development for our community. The Government of Canada is determined to support innovation and growth, help local businesses export their products, and encourage the creation of high–quality jobs in the Outaouais region.”
Steven MacKinnon, MP for Gatineau and Parliamentary Secretary to the Minister of Public Services and Procurement
“Today, more than ever, the government is here to help the Canadian economy recover during these difficult times. We must support our businesses, our urban and rural regions and our communities. It is now also important to buy local to help our business communities boost our economy.”
Stéphane Lauzon, MP for Argenteuil–La Petite-Nation and Parliamentary Secretary to the Minister of Seniors
“Since the pandemic began, the government has acknowledged that our businesses are faced with unique situations and challenges arising from COVID–19. This new funding will help businesses keep the Outaouais region strong as the economy recovers.”
William Amos, MP for Pontiac and Parliamentary Secretary to the Minister of Innovation, Science and Industry (Science)
“The government is investing in organizations like ID Gatineau and Foko to help relaunch our economy here in the Outaouais region. The pandemic has certainly been tough, but our community and its entrepreneurs are tougher.”
Greg Fergus, MP for Hull–Aylmer and Parliamentary Secretary to the President of the Treasury Board and to the Minister of Digital Government
Quick facts
The Honourable Mélanie Joly is the Minister responsible for the six regional development agencies (RDAs), including CED.
CED is the key federal partner for regional economic development in Quebec. With 12 regional business offices, CED helps businesses, support organizations and the regions of Quebec to prepare for the economy of tomorrow.
The repayable contributions made to the five SMEs were awarded under the Regional Economic Growth through Innovation (REGI) program, which aims to help Quebec’s SMEs expand through innovation.
The non–repayable contribution made to ID Gatineau was awarded through the Regional Relief and Recovery Fund (RRRF). With a total budget of almost $1 billion, the RRRF will provide $211 million in support to Quebec businesses and NPOs. Under this initiative, emergency working capital funding and technical assistance will be provided to the province’s 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 – The parliamentary budget officer says the federal government likely failed to keep its deficit below its promised $40 billion cap in the last fiscal year.
However the PBO also projects in its latest economic and fiscal outlook today that weak economic growth this year will begin to rebound in 2025.
The budget watchdog estimates in its report that the federal government posted a $46.8 billion deficit for the 2023-24 fiscal year.
Finance Minister Chrystia Freeland pledged a year ago to keep the deficit capped at $40 billion and in her spring budget said the deficit for 2023-24 stayed in line with that promise.
The final tally of the last year’s deficit will be confirmed when the government publishes its annual public accounts report this fall.
The PBO says economic growth will remain tepid this year but will rebound in 2025 as the Bank of Canada’s interest rate cuts stimulate spending and business investment.
This report by The Canadian Press was first published Oct. 17, 2024.
OTTAWA – Statistics Canada says the level of food insecurity increased in 2022 as inflation hit peak levels.
In a report using data from the Canadian community health survey, the agency says 15.6 per cent of households experienced some level of food insecurity in 2022 after being relatively stable from 2017 to 2021.
The reading was up from 9.6 per cent in 2017 and 11.6 per cent in 2018.
Statistics Canada says the prevalence of household food insecurity was slightly lower and stable during the pandemic years as it fell to 8.5 per cent in the fall of 2020 and 9.1 per cent in 2021.
In addition to an increase in the prevalence of food insecurity in 2022, the agency says there was an increase in the severity as more households reported moderate or severe food insecurity.
It also noted an increase in the number of Canadians living in moderately or severely food insecure households was also seen in the Canadian income survey data collected in the first half of 2023.
This report by The Canadian Press was first published Oct 16, 2024.
OTTAWA – Statistics Canada says manufacturing sales in August fell to their lowest level since January 2022 as sales in the primary metal and petroleum and coal product subsectors fell.
The agency says manufacturing sales fell 1.3 per cent to $69.4 billion in August, after rising 1.1 per cent in July.
The drop came as sales in the primary metal subsector dropped 6.4 per cent to $5.3 billion in August, on lower prices and lower volumes.
Sales in the petroleum and coal product subsector fell 3.7 per cent to $7.8 billion in August on lower prices.
Meanwhile, sales of aerospace products and parts rose 7.3 per cent to $2.7 billion in August and wood product sales increased 3.8 per cent to $3.1 billion.
Overall manufacturing sales in constant dollars fell 0.8 per cent in August.
This report by The Canadian Press was first published Oct. 16, 2024.
