Canada Economic Development

Canada Economic Development

December 01, 2009 10:44 ET

Government of Canada Grants $300,000 in Funding for Startup of Baie-Comeau Firm Beton Prefabrique du Quebec

BAIE-COMEAU, QUEBEC--(Marketwire - Dec. 1, 2009) - The Honourable Denis Lebel, Minister of State for Canada Economic Development, today announced the awarding of $300,000 in repayable funding to the firm Beton prefabrique du Quebec. Granted through the Community Economic Diversification Initiative - Vitality, this assistance will enable the startup to acquire the equipment it needs to launch its operations in Baie-Comeau. Requiring an overall investment of $3.5 million, this project will result in the creation of 20 direct jobs in the area.

The first plant of its kind in the Cote-Nord region, Beton prefabrique du Quebec will manufacture products intended mainly for the industrial and government construction sectors, including bollards, lamppost and signage footings, barrier posts and curb stones. This funding from Canada Economic Development will allow the new enterprise to implement a plant automation process, install travelling bridge cranes and purchase the moulds needed for the formwork of its various products.

"Through the various measures outlined in Canada's Economic Action Plan, our government is supporting the entrepreneurial vitality of Quebec's regions and helping small and medium-sized enterprises invest in leading-edge equipment to ensure their long-term prosperity. By answering the growing demand for quality products, Beton prefabrique du Quebec will be filling a niche in the Cote-Nord region. Its activities will also help further the economic diversification of the region, a goal toward which all communities must strive in this day and age in order to remain strong and dynamic," explained the Minister of State.

By processing the stone into the finished product itself, the manufacturing firm will be helping to create added value for Cote-Nord natural resources. The startup of Beton prefabrique du Quebec fits in with the priorities established by the Canada Economic Development Cote-Nord business office to encourage diversification of the economy by supporting the emergence of more manufacturing firms in the region.

For more on Canada's Economic Action Plan, visit 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.

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