Val-d'Or business receives $288,086 in financial assistance from CED.
VAL-D'OR, QC, May 10, 2022 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
Supporting business automation contributes to economic development in Quebec's regions. That is why the Honourable Pascale St-Onge, Minister of Sport and Minister responsible for CED, today announced a repayable contribution of $288,086 for Usinage Marcotte. This CED support will enable the business to enhance its performance to better meet the demand in its market.
Usinage Marcotte develops and manufactures steel parts for the forestry and mining sectors. With an abundance of orders on the books, the business wants to increase its productivity and shorten production lead times. CED's support will enable it to automate its operations by acquiring and installing digital equipment such as a laser cutting table and related components.
The Government of Canada recognizes and supports businesses and organizations that are a source of pride in their communities. Quebec's economic recovery relies on organizations with strong roots in the regional economy. They are major contributors to growth, as well as key assets in rebuilding a stronger, more resilient, greener, and more just economy for all.
"SMEs are at the core of community development and are part of our government's economic recovery plan. We are determined to help them become more competitive and productive. That is why I am delighted with our government's support for Usinage Marcotte's automation project, which will enable the business to better meet the demand in its market. This SME's contribution to Val‑d'Or's economic vitality is undeniable and, without a doubt, this project will generate concrete spinoffs not only for the region, but also for all of Quebec."
The Honourable Pascale St-Onge, Member of Parliament for Brome–Missisquoi, Minister of Sport and Minister responsible for CED
"In business now for 30 years, Usinage Marcotte has never stopped innovating to offer its industrial clients cutting-edge, quality products. This CED contribution will enable us, once again, to raise our standards for the benefit of mining and forestry businesses."
Hugues Marcotte, President, Usinage Marcotte
- The funds have been granted under CED's Regional Economic Growth through Innovation program. This program targets entrepreneurs leveraging innovation to grow their businesses and enhance their competitiveness, as well as regional economic stakeholders helping to create an entrepreneurial environment conducive to innovation and growth for all, across all regions.
- SMEs represent 99.7% of Quebec businesses and contribute to 50% of the province's GDP.
- CED is a key federal partner in Quebec's regional economic development. With its 12 regional business offices, CED accompanies businesses, supporting organizations and all regions across Quebec into tomorrow's economy.
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SOURCE Canada Economic Development for Quebec Regions
Media Relations, Canada Economic Development for Quebec Regions, [email protected]; Ariane Joazard-Bélizaire, Press Secretary, Office of the Minister of Sport and Minister responsible for Canada Economic Development for Quebec Regions, [email protected]
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