Canada Economic Development for Quebec Regions

Canada Economic Development for Quebec Regions

September 07, 2016 11:30 ET

Government of Canada renews funding of Grands Prix Cyclistes de Quebec et de Montreal

Support for the commercialization in over 130 countries of the only North American stops on the UCI WorldTour

QUEBEC CITY, QUEBEC--(Marketwired - Sept. 7, 2016) - Canada Economic Development for Quebec Regions (CED)

Tourism provides an excellent opportunity for Canada to further its economic development. To that end, the Government of Canada's support of high-level sporting events reflects its determination to encourage actions that generate major economic and media benefits in the regions hosting these events. For the 7th year in a row, Québec City and Montréal will be welcoming in the coming days the world's best cyclists to compete in officially sanctioned races of Union cycliste internationale's UCI WorldTour.

The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED, today announced that $2,700,000 in non-repayable funding has been granted to Événements GPCQM. Awarded in three equal parts for the events' 2015, 2016 and 2017 editions, this financial assistance will serve to support national and international commercialization activities, including the televised broadcast of the competitions and of tourism vignettes.

CED has been funding the Grands prix cyclistes de Québec et de Montréal (GPCQM) since their inception in 2010. These competitions help strengthen the reputation and extend the international reach and influence of their host cities while generating significant economic spinoffs.

Quote

"By renewing its support for the promotion of the GPCQM races, the Government of Canada is contributing to the economic development of Québec City and Montréal, to the growth of the tourism industry in the Québec and Montréal regions and to job creation."

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.

Related link

Grands Prix Cyclistes de Québec et de Montréal Website: http://gpcqm.ca

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