Canada Economic Development

Canada Economic Development

January 28, 2010 11:30 ET

Cooperative de Solidarite V.E.R.T.E. Receives $50,000 in Funding from the Government of Canada to Convert Price House Into a Youth Hostel

SAGUENAY, QUEBEC--(Marketwire - Jan. 28, 2010) - Acting on behalf of the Honourable Denis Lebel, Minister of State for Canada Economic Development, the Honourable Jean-Pierre Blackburn, Minister of Veterans Affairs and Minister of State (Agriculture), today announced the awarding of $50,000 in non-repayable funding to the Cooperative de solidarite V.E.R.T.E. for the conversion of Chicoutimi's Price House into a youth hostel. Thanks to this project, which will necessitate an overall investment of more than $800,000, more than 35 beds will be available to tourists during high season.

Minister Blackburn applauded this initiative, which illustrates the dynamism of an organization committed to social development and the employment of young workers. The project will ensure the maintenance of nine jobs within the cooperative and lead to the creation of five others during the construction period and from four to 10 more once the hostel opens its doors. "We support this project, which promises interesting opportunities for the community. As well as creating jobs in the short term, the conversion of a prime heritage building into a youth hostel will generate important benefits for the local economy. Located in the heart of Chicoutimi, this new establishment will be easily accessible and, in keeping with the standards of the world Youth Hostel network, will offer all of the modern comforts in a warm and appealing atmosphere," he explained.

The hostel will be developed in compliance with the latest sustainable development standards. In addition to offering affordable accommodations for tourists, the establishment will also feature tourism packages and restaurant services. As the only facility of its kind in Chicoutimi, the hostel will help diversify and increase the lodging supply in the Saguenay-Lac-Saint-Jean region while appealing to travellers seeking an authentic ecotourism experience.

This financial assistance has been granted through Canada Economic Development's Community Diversification program and the Community Adjustment Fund established under Canada's Economic Action Plan. This $1 billion fund is intended to deliver support to, among others, those communities whose development depends largely upon natural resources.

For more on Canada's Economic Action Plan, visit

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