Canada Economic Development

Canada Economic Development

November 12, 2010 16:42 ET

$30 Million Awarded to Date for Quebec, More Than $1.6 Million of it for Nord-du-Quebec

Temporary Initiative for the Strengthening of Quebec's Forest Economies

CHIBOUGAMAU, QUEBEC--(Marketwire - Nov. 12, 2010) - The Honourable Denis Lebel, Minister of State for Canada Economic Development, today gave a first progress report on the financial assistance that has been awarded under the Temporary Initiative for the Strengthening of Quebec's Forest Economies (TISQFE). To date, $30 million has been invested in Quebec as a whole. In the Nord-du-Québec region, $1,639,674 in federal funding has been granted to two projects under this initiative. These projects will generate investments of $11,041,138 and their proponents expect that 86 jobs will be created and maintained.

"The report I am presenting today illustrates the Government of Canada's determination to support our industries, create jobs and spur regional economic growth. In fact, I encourage Nord-du-Québec enterprises and organizations to submit projects," said the Minister of State.

In effect since June 2010, the TISQFE is aimed at assisting communities affected by the forestry crisis in diversifying their economies to sustain their growth and creating and maintaining jobs. "Its goal is also to support small and medium-sized enterprises in these communities in their efforts to ensure their survival and sustainable development," Mr. Lebel concluded.

The $30 million will serve to carry out 79 projects across Quebec. These projects will generate investments of close to $115 million in the various regions affected by the forestry crisis and their proponents estimate that 1,645 jobs will be created and maintained.

The TISQFE is one of a series of measures the Government of Canada has introduced in recent months to mitigate the effects of the forestry crisis. Others include the $1 billion granted to the Pulp and Paper Green Transformation Program to help enterprises undertake environmentally-friendly projects within their facilities and the $230 million invested, in collaboration with the Government of Quebec, for silvicultural work and the restoration of bridges and culverts on forest roads. Workers are also benefiting from their fair share of support, with the Government of Canada introducing some of the most generous measures in history to help them through the economic crisis.

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Status report on projects funded under the Temporary Initiative for the Strengthening of Quebec's Forest Economies

Nord-du-Québec

Backgrounder

Proponent   Description - Investment - Contribution
Waswanipi Mishtuk Corporation   Repayable contribution of $639,674 on a total investment of $3,741,138. The mission of the Waswanipi Mishtuk Corporation is to contribute to the economic development of the Cree community of Waswanipi. The project consists of modernizing the mill, and consequently, commissioning the Nabakatuk sawmill.

Jamésie RCM
7247834 Canada Inc. Synergie Matagami   Repayable contribution of $1,000,000 on a total investment of $7,300,000. A new legal entity consisting of local and regional partners, the Corporation's purpose is to maximize the local use of forest resources. The project involves building a steam cogeneration and pellet manufacturing plant in Matagami. This plant will produce steam from waste bark waste as well as wood pellets from sawdust produced by a nearby sawmill.

Jamésie RCM

Summary

Total number of projects: 2

Contributions from Canada Economic Development: $1,639,674 

Investments generated by these projects: $11,041,138

Contact Information

  • Source:
    Canada Economic Development
    Office of the Honourable Denis Lebel
    Benoit Fortin - Special Assistant, Communications
    819-997-3319
    benoit.fortin@dec-ced.gc.ca
    or
    For information:
    Canada Economic Development
    Jean-Francois Lauzon - Communications
    514-283-0306 / Cell.: 514-895-6237
    jean-francois.lauzon@dec-ced.gc.ca