BOISBRIAND, QUEBEC--(Marketwired - Sept. 1, 2016) - Canada Economic Development for Quebec Regions (CED)
The Government of Canada is committed to investing in job creation in order to stimulate economic growth and increase prosperity for Canadians. It is aware that communities must diversify strategically by focusing on innovation in order to develop lasting regional competitive advantages. As such, support for communities' transition and diversification is a priority for the Government of Canada.
Linda Lapointe, MP for Rivière-des-Mille-Îles, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development (ISED) and Minister responsible for CED, confirmed the signing of a three-year agreement with the CAE Rive-Nord. Tied to the agreement is a financial commitment of $ 590 355 that this CBDC from Mirabel will use to support economic development in the community.
Today's announcement arises from the signing of three-year agreements totalling more than $86 million among the Government of Canada and the CFDCs, CBDCs, the CFDC/CBDC Network and Capital Réseau of Quebec. That financial assistance, announced July 19, 2016 by Greg Fergus, Parliamentary Secretary to the Minister of ISED and Minister responsible for CED, will benefit 57 CFDCs, 10 CBDCs, the CFDC/CBDC Network and Capital Réseau SADC et CAE.
The agreements provide the CFDCs and CBDCs with the flexibility and means they need for fulfilling their mission. By supporting the growth of SMEs and fostering the development of local economies, CFDCs and CBDCs help create well-paid jobs for the middle class and those who work hard to improve their standard of living.
In Quebec, roughly 10,000 businesses every year benefit from the services of these two agencies, which means an average annual investment of $70 million in Quebec communities. The CFDCs also get involved in over 1,250 economic development projects every year.
The funding comes from the Community Futures Program (CFP) that, in Quebec, is operated by CED.
"The renewal of the agreement between CED and the CAE Rive-Nord, Mirabel's CBDC, is excellent news for the region. For the next three years, the agency will be able to carry out its mission and contribute to economic growth and job creation within the community."
- Linda Lapointe, MP for Rivière-des-Mille-Îles
"I am very pleased with the renewal of the agreements between the Government of Canada and the CFDCs and the CBDCs. The financial stability provided by those agreements enables these agencies to focus on achieving priority objectives. And that results in diversified, competitive local economies that benefit the entire country."
- The Honourable Navdeep Bains, Minister responsible for CED
CED is one of the six regional development agencies under the responsibility of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.
For more information about the CFP: http://www.dec-ced.gc.ca/eng/programs/cfp/index.html
Website of the CFDC/CBDC Network: http://www.sadc-cae.ca/
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