More than $800,000 to support growth and innovation in mining enterprises

Government of Canada supports the projects of a business and an organization in Abitibi-Témiscamingue

ROUYN-NORANDA, QC, July 5, 2018 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)

Acting on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED, the Honourable François‑Philippe Champagne, Member of Parliament for Saint-Maurice–Champlain and Minister of International Trade, was in the region and took the opportunity to announce a total of $801,375 in financial assistance for Technosub and Groupe MISA (Mines, Innovations, Solutions et Applications) [website in French only], in Rouyn‑Noranda.

The Government of Canada is committed to creating close partnerships with Quebec businesses to support their efforts to innovate and to increase productivity and competitiveness in export markets, while contributing to the economic vitality of the regions, creating good-quality jobs in Rouyn-Noranda and helping improve citizens' quality of life.

First, $201,375 in financial assistance has been awarded to Technosub, in the form of a repayable contribution, through the Quebec Economic Development Program (QEDP), and will help the company improve its productivity and increase its production capacity with the acquisition of new specialized equipment.

Second, a non-repayable contribution of $600,000 has been granted to Groupe MISA, also through the QEDP, which will accelerate the development of innovative mining businesses by helping cover costs related to 10 mining innovation projects over a 24-month period. Two jobs will be created through these projects.

Quotes

"I am very pleased about the financial support from the Government of Canada, which is building on the desire of Canadian companies to expand and on a community's ability to revitalize the development and diversification of its economy. Technosub and MISA are bold examples of the know-how and entrepreneurial spirit that characterize our region, and I encourage them to continue on the same path." 

The Honourable François-Philippe Champagne, Member of Parliament for Saint-Maurice–Champlain and Minister of International Trade

"By providing financial support for these projects, the Government of Canada is reaffirming its commitment to help communities diversify and strengthen their economies and pursue promising economic development opportunities. Innovation plays a key role in diversifying the economic fabric and growing businesses. That is why we are pleased to support the development of Technosub and Groupe MISA."

The Honourable Navdeep Bains, Minister responsible for CED

Quick facts

• CED is one of the six regional development agencies under the responsibility of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.
• This year marks the 50th anniversary of federal regional economic development in Quebec: half a century of concrete action dedicated to the development of the regions and local businesses.
• For more information on CED and its priorities, consult the 2018–19 Departmental Plan or visit www.dec-ced.gc.ca.

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SOURCE Canada Economic Development for Quebec Regions

Media Relations, Canada Economic Development for Quebec Regions, Tel.: [phone], Email: [email protected]