Canada Economic Development

Canada Economic Development

February 10, 2010 14:42 ET

Government of Canada Awards $750,000 in Funding to Atelier D'Usinage Tracy for Equipment Acquisition and Diversification of its Operations

SOREL-TRACY, QUEBEC--(Marketwire - Feb. 10, 2010) - The Honourable Denis Lebel, Minister of State for Canada Economic Development, today announced $750,000 in repayable funding to Atelier D'Usinage Tracy to enable the machine shop to construct an industrial building, purchase equipment and commission a new production line. This project will also help the firm maintain a healthy competitiveness and generate an investment of $2,950,000.

"To reach new levels of growth, Atelier D'Usinage Tracy needs to improve its capability to process and assemble large-scale machine parts in order to meet the requirements of prime contractors. This project will lead to the creation of 10 full-time jobs and the maintenance of 10 others. What's more, the firm will increase the contracts it awards to subcontractors by 25%, thereby generating significant spinoffs in various regions of Quebec," explained the Minister of State.

By diversifying its operations, Atelier D'Usinage Tracy will maintain its market share in Canada and the United States, capitalize on the energy boom and make inroads in growing niche markets, such as wind turbine components.

This financial assistance has been awarded through the Community Adjustment Fund (CAF). A part of Canada's Economic Action Plan, CAF is a two-year, $1 billion initiative whose objectives are to provide an economic stimulus by supporting projects that create jobs and maintain employment in communities affected by the global downturn.

For more on Canada's Economic Action Plan, see www.actionplan.gc.ca.

Canada Economic Development is online at www.dec-ced.gc.ca. Subscribe to the Agency's press releases at http://www.dec-ced.gc.ca/eng/media-room/mailing-list/list.html to keep up with the latest news.

Contact Information