Canada Economic Development

Canada Economic Development

April 30, 2010 10:30 ET

M.P. ECO Receives $800,000 in Funding From Government of Canada to Accelerate Expansion

SHERBROOKE, QUEBEC--(Marketwire - April 30, 2010) - The Honourable Denis Lebel, Minister of State for Canada Economic Development, today announced that M.P. ECO Inc. has been granted $800,000 in repayable funding to expand its plant and acquire new manufacturing equipment. This project, which will necessitate a total investment of more than $3 million and result in the creation of 40 quality jobs, 14 of them permanent positions, will help the company meet the growing demand in the booming water treatment sector and diversify its customer base. 

Completion of this project will enable M.P. ECO to enhance its productivity and meet its growth objectives. With improved facilities, the firm intends to pursue projects in the area of parts manufacturing and expand its clientele, which primarily includes municipalities and various industries, in order to gain a stronger foothold in export markets.

"Once again, we are seeing a local initiative that promises to create immediate employment and stimulate economic activity in the Sherbrooke area. This is welcome news indeed. The Government of Canada believes it is essential to lend its support to an innovative enterprise like M.P. ECO, whose expertise and reputation in the field will serve it well in harnessing new growth-generating opportunities," explained Minister of State Lebel.

This financial assistance has been awarded through the Community Adjustment Fund (CAF), a billion-dollar measure established under Canada's Economic Action Plan to stimulate job creation and support local economic diversification and restructuring efforts. The CAF is intended for those communities most affected by the global recession, particularly those whose economies rely heavily on the primary industries and manufacturing sector. The share of the Fund allocated to Canada Economic Development for use in Quebec amounts to nearly $212 million over two years.

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

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