Government of Canada Signs Agreement With Community Economic Development Corporations (CEDCs)

MONTRÉAL, QUEBEC--(Marketwire - March 14, 2011) - The Honourable Denis Lebel, Minister of State for Canada Economic Development, has confirmed the conclusion of a five-year agreement estimated to be worth more than $14 million with the Community Economic Development Corporations (CEDCs). This funding has been awarded under Canada Economic Development's Community Diversification program.

"For more than 20 years, the CEDCs, together with Canada Economic Development and a host of other partners and collaborators, have played a key role in starting up small and medium-sized businesses. Today I am pleased to announce that we will be continuing our productive cooperation for several years to come," said Minister of State Lebel.

This new agreement demonstrates the Government of Canada's commitment to the CEDCs in Quebec's urban centres, including the 11 in Montréal, particularly as a number of economic austerity measures aimed at balancing the budget are being introduced.

"Time and time again, the CEDCs have demonstrated the scope of their work in urban economic development. They have implemented innovative services and projects while gaining recognized expertise in local development. The Government of Canada is delighted to renew this association," added the Minister of State.

The CEDCs annually invest millions of dollars in hundreds of enterprises in order to create jobs in their communities. All the Corporations are non-profit organizations, incorporated and governed by local volunteer boards of directors.

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