U.S. markets closed
  • S&P 500

    4,134.98
    -38.44 (-0.92%)
     
  • Dow 30

    33,815.90
    -321.41 (-0.94%)
     
  • Nasdaq

    13,818.41
    -131.81 (-0.94%)
     
  • Russell 2000

    2,232.61
    -7.01 (-0.31%)
     
  • Crude Oil

    61.66
    +0.31 (+0.51%)
     
  • Gold

    1,784.00
    -9.10 (-0.51%)
     
  • Silver

    26.19
    -0.38 (-1.41%)
     
  • EUR/USD

    1.2018
    -0.0022 (-0.18%)
     
  • 10-Yr Bond

    1.5540
    -0.0100 (-0.64%)
     
  • GBP/USD

    1.3844
    -0.0088 (-0.63%)
     
  • USD/JPY

    107.9470
    -0.0960 (-0.09%)
     
  • BTC-USD

    51,480.31
    -3,504.52 (-6.37%)
     
  • CMC Crypto 200

    1,192.21
    -50.84 (-4.09%)
     
  • FTSE 100

    6,938.24
    +42.95 (+0.62%)
     
  • Nikkei 225

    29,188.17
    +679.62 (+2.38%)
     

Innovative Montérégie manufacturers: Key players in planning economic recovery

  • Oops!
    Something went wrong.
    Please try again later.
·4 min read
  • Oops!
    Something went wrong.
    Please try again later.

Canada Economic Development for Quebec Regions grants $1.6 million to help three manufacturing businesses to innovate.

LONGUEUIL, QC, Feb. 10, 2021 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)

The manufacturing industry will play a major role in the economic recovery. It is an important sector of activity to help maintain and stimulate the economy. However, for several years now, manufacturing businesses have had to demonstrate adaptability and creativity to transform how they operate.

Today, they must also be resilient to overcome the challenges caused by COVID-19. The investments required in monetary, material and human resources to begin the technology shift are often considerable. Whether it be to establish an intelligent factory, to automate or to robotize, the Government of Canada is signalling its presence in supporting businesses in their modernization projects to create quality jobs for Canadians.

Boosting manufacturing SMEs in their modernization efforts

With this in mind, the Honourable David Lametti, Member of Parliament for LaSalle–Émard–Verdun, Minister of Justice and Attorney General of Canada, on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages, today announced financial support for Supermax Medical Inc., Cyrell AMP Inc. and Corflex Inc.

Details on the assistance provided under the Regional Economic Growth through Innovation program are as follows:

  • Supermax Medical, $750,000. CED's assistance will enable the business to acquire automated production equipment to manufacture masks. This project, aimed at starting up a business specializing in the production of surgical masks mainly for the health sector, will lead to the creation of at least seven jobs.

  • Cyrell AMP, $700,000. CED's assistance will enable the business to acquire production equipment and install an integrated logistics system to process steel and aluminum sheet. This project, aimed at improving productivity and expanding the business, will lead to the creation of five jobs.

  • Corflex, $150,000. CED's assistance will enable the business to acquire production equipment and install an integrated computer system (ERP, CRM, project management and accounting). The project, aimed at improving production capacity and marketing the business's new high–end glass walls in Canada and the U.S., will lead to the creation of two jobs.

The manufacturing industry is a major contributor to Quebec's economic growth, providing many jobs. It represents a key link in regional economic development. With this support, the Government of Canada is attesting to its commitment to prepare the way for after the pandemic to rebuild a stronger, more resilient and more just economy for all.

Quotes

"Today's announcement is proof once again of the Government of Canada's commitment to the Montérégie region's manufacturing businesses. By stimulating their growth, the government is working to ensure Quebec's manufacturing industry plays a major role in Canada's economic recovery."

The Honourable David Lametti, Member of Parliament for LaSalle–Émard–Verdun, Minister of Justice and Attorney General of Canada

"We are continuing to work with innovative manufacturers to give them the tools they need to develop innovative technologies and processes, to the benefit of Quebec's workers and regions. Thanks to the Government of Canada's support, they can leverage innovation, a veritable economic engine and pillar of growth, to stimulate the local economy and create good jobs in their region. As such, our manufacturing businesses are in a better position to prepare for the post-COVID-19 recovery."

The Honourable Mélanie Joly, Member of Parliament for Ahuntsic-Cartierville, Minister of Economic Development and Official Languages and Minister responsible for CED

Quick facts

  • In Quebec, the manufacturing sector includes 13,700 businesses that employ 447,750 workers, with sales totalling C$169 billion per year. It generates 14% of Quebec's gross domestic product and 82% of its exports.

  • The Honourable Mélanie Joly, Minister of Economic Development and Official Languages, is also the minister responsible for the six regional development agencies (RDAs), including CED.

  • 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.

Associated links

Stay connected

Follow CED on social media
Consult CED's news

SOURCE Canada Economic Development for Quebec Regions

Cision
Cision

View original content: http://www.newswire.ca/en/releases/archive/February2021/10/c0996.html