The Government of Canada awards $169M in financial assistance to these organizations throughout Quebec
Lévis, Quebec – Canada Economic Development for Quebec Regions (CED) - Quebec’s 57 Community Futures Development Corporations (CFDCs), 10 Business Development Centres (BDCs), Réseau des SADC et CAE and Capital Réseau SADC et CAE play a key role in the local economic development of the province’s rural communities.
To continue their mission with rural communities, these organizations will receive a non-repayable contribution of $169M from the Government of Canada for the next five years.
The funding was announced today by Rémi Massé, Member of Parliament for Avignon–La Mitis–Matane–Matapédia and Parliamentary Secretary to the Minister of Innovation, Science and Economic Development.
This financial assistance will provide the CFDCs and BDCs with the flexibility and means to fulfill their mission to foster the development of local economies, support start-ups and assist SMEs with their growth strategies, while paying particular attention to devitalized areas.
In addition, the Maskoutains and Caniapiscau regional county municipalities (RCMs), as well as a portion of the Vaudreuil-Soulanges RCM, will have CFDC/BDC service coverage for the first time.
The Government of Canada is committed to investing in job development, a key element of economic growth in the country and prosperity for Canadians. Rural communities must foster a diversification strategy and build on innovation to develop sustainable regional competitive advantages. To this end, support for the transition and diversification of rural communities is a priority of the Government of Canada.
In Quebec, approximately 10,000 businesses benefit from the services of CFDCs and BDCs each year, resulting in an average annual investment of $70 million in Quebec communities. In addition, CFDCs are involved in more than 1,250 economic development projects annually.
Source : Government of Canada