Canada Economic Development

Canada Economic Development

January 28, 2010 11:00 ET

Government of Canada Grants $900,000 in Funding to Viandes Laroche Inc.

ASBESTOS, QUEBEC--(Marketwire - Jan. 28, 2010) - The Honourable Christian Paradis, Minister of Natural Resources and Member of Parliament for Megantic-L'Erable, today announced the awarding of $900,000 in repayable funding to Viandes Laroche through the Business and Regional Growth program and Community Adjustment Fund for the construction of a larger plant in the City of Asbestos.

Founded in 1974, Viandes Laroche specializes in the processing, sale and distribution of choice beef, pork, poultry, veal and delicatessen products, including Viandes Selectionnees des Cantons certified meats that are both hormone- and antibiotic-free. In Canada, the firm is considered a pioneer for its implementation of an integrated traceability system that allows it to guarantee the origin and quality of its meats. After a period of expansion, Viandes Laroche is now in need of a larger facility in the city in order to consolidate its slaughtering, processing and storage operations. This project is expected to result in an investment of more than $11 million in Asbestos.

"The economic downturn is affecting a great many Quebec communities, particularly those whose economies rely heavily on the primary or manufacturing sectors. The challenges they face are considerable. In order to thrive, they need to be able to ensure the development of diversified local economic activities. Asbestos is therefore fortunate to have Viandes Laroche, a competitive company active in a sector other than mining, operating within its territory. That is why the Government of Canada is proud to support this project, which promises not only to help the enterprise improve its productivity but also to create 30 full-time jobs in the community," stated Minister Paradis.

"A little over a year ago, our government adopted Canada's Economic Action Plan, an unprecedented measure aimed at stimulating our national economy. Based on a review of the progress made to date, our intervention appears to be yielding the desired results. Our country, like the rest of the world, is moving slowly but surely toward a return to fiscal balance. We are firmly committed to maintaining our support of Canadian businesses and to creating the kind of conditions that are essential to solid long-term economic growth," he added.

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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