Canada Economic Development

Canada Economic Development

November 12, 2010 14:12 ET

$30 Million Awarded to Date for Quebec, More Than $3 Million for Abitibi-Temiscamingue

Temporary Initiative for the Strengthening of Quebec's Forest Economies

VAL-D'OR, QUEBEC--(Marketwire - Nov. 12, 2010) - The Honourable Denis Lebel, Minister of State for Canada Economic Development, today presented a first progress report on the financial assistance awarded to the Abitibi-Témiscamingue region 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 Abitibi-Témiscamingue region, $3,027,970 in federal funding has been granted to four projects under this initiative. These projects will generate investments of $13,185,300 and their proponents expect that 278 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 Abitibi-Témiscamingue enterprises and organizations to submit projects," stated the Minister of State.

In effect since June 2010, the TISQFE is aimed at assisting communities affected by the forest crisis in diversifying their economies ito 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 our government 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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Report on projects funded through the Temporary Initiative for the Strengthening of Quebec's Forest Economies

Abitibi-Témiscamingue

Backgrounder

Promoter   Description - Investment - Contribution
7235593 Canada Inc.
(Laminated particleboard plant in Ville-Marie)
  Repayable contribution of $602,000 on a total investment of $6,210,000. This project involved helping the enterprise start up a laminated particleboard plant in the Témiscamingue municipality of Ville-Marie. To that end, the Agency contributed to the cost of stabilizing the building to allow for the proper installation of manufacturing equipment, the addition of safety structures for the manufacturing equipment and the acquisition of operations management computer software.
TEColam
(Val-d'Or)
  Repayable contribution of $2,200,000 on a total investment of $6,045,000. This project consisted of helping the enterprise establish a glue-laminated timber plant in the Val-d'Or industrial park. The Agency contributed toward the construction costs of the building, 90% of the area of which will be used for production, as well as toward the acquisition of manufacturing equipment.
Usinage G.N. Roy Inc.
(Amos)
  Repayable contribution of $175,970 on a total investment of $830,300. The aim of this project was to acquire new strategic equipment, including a machining centre, in order to allow the enterprise to raise its productivity and production and improve its assembly line.
Municipality of Barraute   Non-repayable contribution of $50,000 on a total investment of $100,000. This project involved the preparation of a strategic plan in order to establish a long-term vision for the economic development of the Municipality of Barraute.

Summary

Total number of projects funded: 4

Total contributions from Canada Economic Development: $3,027,970

Total investment generated by these projects: $13,185,300

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