Canada Economic Development

Canada Economic Development

May 30, 2012 10:00 ET

Government of Canada Lends Financial Support to Coupe des Nations-Ville de Saguenay

SAGUENAY, QUEBEC--(Marketwire - May 30, 2012) - The Honourable Denis Lebel, Minister of Transport, Infrastructure and Communities and Minister of the Economic Development Agency of Canada for the Regions of Quebec, and the Honourable Bal Gosal, Minister of State (Sport), announce the awarding of federal funding for the fifth edition of the Coupe des Nations - Ville de Saguenay, which takes place May 31 to June 3, 2012.

"By lending financial support to the Coupe des Nations - Ville de Saguenay, the Government of Canada is demonstrating its firm commitment to promoting the growth of tourism, a sector that benefits the Quebec and Canadian economy," said Minister Lebel.

"Our government is proud to support the Coupe des Nations - Ville Saguenay," said the Honourable Bal Gosal, Minister of State (Sport). "Hosting this exciting event provides our Canadian athletes with the chance to take on the world's best right here at home, while providing a significant economic boost to the local community."

"I offer my sincere thanks to the Government of Canada for supporting the Coupe des Nations - Ville de Saguenay for the past five years," said Bernard Noël, Chair of the Coupe des Nations - Ville de Saguenay. "It is thanks to loyal partners like Canada Economic Development and Sport Canada that we are able to offer an international-level cycling competition in Saguenay."

The tourism industry occupies a place of key importance in the Canadian economy, generating employment and spinoffs that further the vitality of communities in every region of the country. It is for this reason that the Government of Canada recently adopted the National Tourism Strategy, a new measure to promote Canada as a prime tourist destination.

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Canada Economic Development

This financial assistance, granted in the form of a $52,000 non-repayable contribution, has been awarded through the Market or Export component of Canada Economic Development's Quebec Economic Development Program.

Representatives of nearly 20 countries are expected to take part in the Coupe des Nations - Ville de Saguenay, the only leg of the International Cycling Union's U23 World Cup series to be held outside Europe. This high-level sports event brings together the world's top cyclists under the age of 23. The contribution from Canada Economic Development is granted for, among other things, the development and implementation of a commercialization strategy on external markets, the welcoming of journalists and the updating of the organization's Web site. This race contributes to raising the visibility of the Saguenay-Lac-Saint-Jean region in Canada and abroad.

Sport Canada

As the single largest contributor to sport in Canada, our government supports participation and excellence from playground to podium. The Government of Canada has provided $50,000 from Sport Canada's Hosting Program for the la Coupe des Nations-Ville Saguenay.

The Hosting Program aims to enhance the development of sport excellence and the international profile of sport organizations by assisting sport organizations to host both domestic and international sport events in Canada.

For further information, visit www.coupedesnationssaguenay.com

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