Support for the development of five businesses in the Centre du Québec region
Quebec and Ottawa are granting over $9 million to five businesses in the Victoriaville region to support their expansion
Victoriaville, January 15, 2019 – The Governments of Québec and Canada are granting $9,086,460 in financial assistance to Victoriaville & Co. Inc., Groupe A.B.L. inc., Métallomax inc., Vic Store Fixtures Inc. and G.G. Telecom. These contributions will help these Victoriaville and Warwick businesses to grow their markets and increase their productivity, notably by acquiring new technological equipment and improving their facilities. The total investment generated by these projects is estimated at nearly $14 million.
The Honourable François-Philippe Champagne, Member of Parliament for Saint-Maurice—Champlain and Minister of Infrastructure and Communities, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Canada Economic Development for Quebec Regions (CED), and National Assembly of Québec Member for Arthabaska and Chief Government Whip, Eric Lefebvre, on behalf of Pierre Fitzgibbon, Minister of Economy and Innovation and Minister Responsible for the Lanaudière Region, made the announcement today.
The Government of Québec and Investissement Québec (IQ) are granting nearly $7.5 million in financial aid to these manufacturing businesses to support their plans for growth, specialized equipment procurement or product development. This financial support includes loans totalling $3,745,500 from the Ministère de l’Économie et de l’Innovation’s ESSOR program, in addition to loans totalling $3,745,500 granted from IQ’s own funds.
The Government of Canada is providing a total of $1,595,460 in financial assistance. The funding was awarded under CED’s Quebec Economic Development Program in the form of repayable contributions. These projects will create about 10 jobs in the Centre-du-Québec region.
“I am very pleased about this support from the Government of Canada, which has decided to build on the innovation capacity and commitment to progress of these organizations and businesses that are setting themselves apart in a constantly changing market. Their drive, boldness and innovative spirit are an inspiration to us all and are contributing to the region’s economic vitality.”
The Honourable François-Philippe Champagne, Member of Parliament for Saint-Maurice—Champlain and Minister of Infrastructure and Communities
“We have enterprising and dynamic manufacturers in the Centre‑du‑Québec region that are committed to carrying out projects that stimulate the growth of the regional economy. Thanks to the initiatives announced today, we will also be able to strengthen the manufacturing sector, which is among the most significant sectors in terms of the vitality of our region and all of Quebec, propelling it even further.”
Eric Lefebvre, National Assembly of Québec Member for Arthabaska and Chief Government Whip
“The vitality of the economy hinges especially on innovation, the creation of added-value products, and the development of efficient processes. I am proud of the contributions from Victoriaville & Co. Inc., Groupe A.B.L. inc., Métallomax inc., Vic Store Fixtures Inc. and G.G. Telecom to the entrepreneurial dynamism found here in the Centre-du-Québec region.”
The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED
“The manufacturing industry plays a crucial role in wealth creation. We have made this a strategic priority at Investissement Québec, and we will continue to encourage our businesses to invest in going digital. We are proud to support these businesses and to contribute to economic growth in the regions.”
Pierre Gabriel Côté, President and CEO of Investissement Québec
“We are very grateful to CED and the MEI for their support in our ongoing efforts to improve productivity, automate our manufacturing processes and integrate new, innovative technologies. As an entrepreneur, it is reassuring to see that both levels of government recognize the issues faced by most manufacturers and that their concerted efforts can help us to perform better and be more innovative provincially, nationally and internationally.”
Alain Dumont, President, Victoriaville & Co. Inc.
“Our plans to acquire production equipment, notably a flying laser system, were made possible thanks to the aid announced today, and this has helped us to improve our productivity, create jobs and develop new markets.”
Alain Laroche, President, Groupe A.B.L. inc.
“Significant business partners like CED and the MEI will help our business to move past the obstacles of today’s market. Automating our equipment and expanding our factory will be important tools in alleviating the shortage of specialized labour and in facing market growth.”
Pascal Picard, Owner and CEO, Métallomax inc.
“The MEI’s and CED’s contribution have helped launch us towards our 4.0 industry target. By acquiring cutting-edge technology and automating our processes, we have been able to considerably improve productivity.”
Fabrice Canin, President, Vic Store Fixtures Inc.
“The assistance provided by CED and the MEI has contributed to the phenomenal expansion the company is currently experiencing. We have seen a marked increase in our exports, which has resulted in the creation of many jobs.”
Yan Gagnon, Chief Executive Officer, G.G. Telecom
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