SAINT-JÉRÔME, QUÉBEC--(Marketwire - March 21, 2011) - The Honourable Denis Lebel, Minister of State for Canada Economic Development, today announced the awarding of $915,000 in repayable funding through the Community Adjustment Fund for the startup of Autobus Lion Inc. in Saint-Jérôme.
"The establishment of Autobus Lion will translate into major job gains for the Laurentides region. That is why the Government of Canada is pleased to contribute to the startup of this innovative new firm. The Canadian economy is still fragile, which makes this government support all the more essential," explained Minister of State Lebel.
The purpose of the Community Adjustment Fund is to, among other things, provide ad hoc, conjunctural support to municipalities struggling with the impacts of the recent economic crisis. The establishment of a new factory is a structuring project in that it will serve as an important lever for the economic development of Saint-Jérôme and the entire Laurentides region. The innovativeness of this new firm's buses, which will incorporate certain fibreglass components, was a determining factor in the Government of Canada's decision to fund this project.
Autobus Lion Inc. will use this financial contribution for the acquisition of specialized equipment to design, manufacture and assemble vehicles that are lighter, safer, more durable and more environmentally-friendly than their steel counterparts. The company is hoping to break into a highly-promising North American market niche with this innovative vehicle.
"It is through programs like the Community Adjustment Fund that the Government of Canada is able to contribute in a positive way to the development of a strong manufacturing industry in the ground transportation sector," concluded the Minister of State.
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