Canada Economic Development

Canada Economic Development

April 06, 2010 10:30 ET

Government of Canada Grants $38,500 in Funding to Industries B.R. Metal Inc.

DOLBEAU-MISTASSINI, QUEBEC--(Marketwire - April 6, 2010) - The Honourable Denis Lebel, Minister of State for Canada Economic Development, today announced the awarding of $38,500 in repayable funding to Industries B.R. Métal Inc. through the Community Adjustment Fund for the acquisition of equipment, including a digital plasma cutter and a high-power sandblasting cabinet.

Industries B.R. Métal specializes in the development and manufacture of various products made from sheet metal, including aluminum. The new equipment will enable the young manufacturing firm to increase its production, improve the quality of its products and reduce operating costs. Necessitating an overall investment of $97,500, this project will result in the imminent creation of two new permanent jobs in Dolbeau-Mistassini, a municipality whose economy has been weakened by its heavy reliance on the forest industry. Moreover, this initiative will help increase the offerings of Saguenay–Lac-Saint-Jean equipment manufacturers, thereby furthering the international reach and reputation of the region's aluminum industry.

"Small and medium-sized businesses that, like Industries B.R. Métal, build their growth on a foundation of value-added activities and exceptional know-how have always been a driving force of the Canadian economy. It is for this reason that Canada Economic Development believes it is important to lend its financial assistance to this regional enterprise," explained Minister of State Lebel.

The Community Adjustment Fund, a measure established through the economic action plan adopted by the Government of Canada in January 2009, is aimed at supporting communities in their efforts to seek out new avenues of development.

"The Canadian economy is moving squarely towards recovery. We can already see that the special measures provided for in Canada's Economic Action Plan are making a considerable difference. Implementation of the second phase of this plan, which calls for $19 billion in investment, will help lay the foundations for solid long-term economic growth and job creation," the Minister of State concluded.

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
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