Government of Canada has awarded $1.5M in financial assistance to Mégalak Finition and Lesters Foods
LAVAL, QC, May 14, 2018 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
Businesses need to be able to rely on adequate resources to create and commercialize innovative products. In 2017, the Government of Canada unveiled an ambitious plan to support innovative Canadian businesses. As a true economic driver, innovation is the key to Canada's success in that it generates growth that benefits businesses and communities.
Two Laval businesses have improved their production capacity and expanded thanks to financial assistance supporting projects that will generate total investments of more than $18.8M and create 76 new jobs in the region.
The Government of Canada's repayable contributions totalling $1.5M were announced today by Eva Nassif, Member of Parliament for Vimy, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED.
Mégalak Finition and Lesters Foods Limited (Lesters) were both granted contributions of $750,000 to acquire state-of-the-art production equipment. They will now be able to diversify their markets and meet growing demand for their products and services.
The funding awarded through CED's Quebec Economic Development Program will help the recipient businesses reach their growth objectives.
Quotes
"Mégalak Finition and Lesters Foods are two very successful companies. The fact that they never hesitate to adjust to new market realities to maintain their competitive edge and continue to develop new markets is undoubtedly key to their success. I am proud to support the growth of these SMEs, which combine know-how and technology."
Eva Nassif, Member of Parliament for Vimy
"As the Minister of Innovation, Science and Economic Development, my goal is to help businesses grow and innovate so that they can create good-quality jobs and wealth for Canadians. That is why we are supporting companies like Mégalak Finition and Lesters Foods, whose successes benefit the region and the Canadian economy overall."
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.
- For more information on CED's key directions until 2021, consult Strategic Plan 2021 or visit www.dec-ced.gc.ca.
- Budget 2018 proposes to provide an additional $511M in funding over five years on a cash basis, starting in 2018–2019, for the regional development agencies to support the Innovation and Skills Plan across all regions of Canada.
- Of the $511M, $99M will be allocated to CED, of which $22M will go toward supporting the new Women Entrepreneurship Strategy.
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- Follow Lesters Foods on Facebook and Instagram
SOURCE Canada Economic Development for Quebec Regions
Media Relations, Canada Economic Development for Quebec Regions, Tel.: 514-283-7443, Email:[email protected]
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