Canada Economic Development

Canada Economic Development

March 03, 2005 14:26 ET

CED: Minister Saada Confirms $300-Million Increase in Canada Economic Development Budget Over Five Years



MARCH 3, 2005 - 14:26 ET

CED: Minister Saada Confirms $300-Million Increase in
Canada Economic Development Budget Over Five Years

SHERBROOKE, QUEBEC--(CCNMatthews - March 3, 2005) -

To foster economic diversity of Quebec regions

On a visit to Estrie today, the Honourable Jacques Saada, Minister of
Canada Economic Development and Minister responsible for the
Francophonie, outlined once again the main points of the Government of
Canada's 2005 budget tabled this past February 23 by the Honourable
Ralph Goodale, Minister of Finance. As the guest speaker at a lunch
meeting of the Sherbrooke Chamber of Commerce, Mr. Saada took the
opportunity to confirm the $300-million increase in Canada Economic
Development's budget over five years.

Mr. Saada expressed his pleasure at this new funding, which will allow
Canada Economic Development to intensify and enhance its intervention in
the field, notably with a view to maintaining assistance for innovation
and the knowledge economy, supporting vulnerable communities and thus
contributing to local development.

"To my mind, regional development is first and foremost a human
activity," stated Mr. Saada. "The economy is not an end in itself, but
rather an instrument for enhancing individual and collective well-being.
Whether for promoting entrepreneurship among young people, ensuring
market development, or backing a community or the growth of leading-edge
sectors, Canada Economic Development, through its 14 business offices,
lends its support in order to diversify the regional economies in such a
way that all the regions' residents benefit."

The 2005 budget presents a balanced strategy for building a 21st-century
economy that will improve the well-being of all Canadians. "Our
commitments to Canadians are clear and ambitious," the Minister added.
"We will continue our work to develop a robust economy and secure our
social foundations, while ensuring a sustainable environment in a sound
fiscal framework."

Canada Economic Development's mandate is to promote the economic
development of the regions of Quebec. Primarily through financial
assistance programs, the Agency elicits and supports the implementation
of economic development projects. The two priorities the Agency has set
itself are to foster innovation and the knowledge economy in each region
of Quebec, and to help communities that are having difficulty adjusting
to the new economy. In this way, the Agency contributes to the
attainment of the Government of Canada's objective of building the 21st
Century economy.

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Contact Information

    Canada Economic Development
    Lyne Montpellier
    (800) 567-8637
    Canada Economic Development
    Office of the Honourable Jacques Saada
    Daniel Dezainde, Press Secretary
    (514) 496-1282