Canada Economic Development

Canada Economic Development

December 04, 2009 11:00 ET

Government of Canada Grants $1,340,000 in Funding to Village Vacances Monts-Valin

SAGUENAY, QUEBEC--(Marketwire - Dec. 4, 2009) - The Honourable Denis Lebel, Minister of State for Canada Economic Development, today announced the awarding of $1,340,000 in repayable funding to Village Vacances Monts-Valin. Granted through the Community Adjustment Fund provided for under Canada's Economic Action Plan, this assistance will enable the enterprise to build and outfit the first eight cabins of what will eventually become a 25-unit lodging complex in Monts-Valin. Necessitating an overall investment of $2 million, this project will result in the creation of nine permanent jobs and numerous other temporary positions throughout the construction phase.

This project will allow the enterprise to occupy an advantageous position on the local tourism market and is expected to generate major spinoffs for the region. In addition to improving the availability of lodging in the area, the construction of these new cabins will strengthen the efforts being deployed by local tourism businesses in the food, ecotourism, outfitting, guided tour sectors to create a major activity pole in the Lac Jalobert area of Monts-Valin.

"Developing winter tourism is one of the ways by which the Fjord-du-Saguenay RCM is looking to diversify the Saguenay-Lac-Saint-Jean economy. Projects like Village Vacances Monts-Valin that capitalize on the region's exceptional snow conditions are right in line with that objective, and that is why Canada Economic Development is proud to lend its support to this local initiative. Indeed, it was precisely with the goal of backing promising projects like this one that the Government of Canada adopted its Economic Action Plan, a series of economic recovery measures aimed at stimulating investment, opening up new opportunities and creating jobs," noted the Minister of State.

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

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