Canada Economic Development



Canada Economic Development

October 11, 2012 15:00 ET

Government of Canada Lends Support to Saguenay-Lac-Saint-Jean Economy

SAGUENAY, QUEBEC--(Marketwire - Oct. 11, 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, today announced funding for seven projects in Saguenay-Lac-Saint-Jean. This financial assistance, granted to Promotion Saguenay Inc., the Air Defence Museum in Bagotville, Mercier Industries en mécanique Ltd, Spectube Inc., Équipements Saguenay (1982) Ltd, Sublimart Inc. and the Auberge Val-Menaud solidarity cooperative, is intended to help promote the economic growth of the region.

"The economy and job creation are key priorities for the Government of Canada. The financial contributions we are announcing today for these innovative projects illustrate our firm commitment to supporting the economic development of the region," said Minister Lebel.

Whether their focus is on tourism industry development, business expansion, productivity enhancement or international commercialization, all of these projects exemplify the entrepreneurial spirit of the people of Saguenay and have the potential to further the competitiveness and economic growth of the region.

Information:

The seven contributions, which total $1,674,902, have been awarded through the Business and Regional Growth program, the Quebec Economic Development Program, the Temporary Initiative for the Strengthening of Quebec's Forest Economies, and the Support Initiative for International Cruise Development on the St. Lawrence and Saguenay Rivers.

For further details, see the backgrounder on these projects.

Keep up with the latest news from Canada Economic Development by visiting www.dec-ced.gc.ca or subscribing to @CanEconDev on Twitter.

Backgrounder on the projects announced

Support for the Saguenay-Lac-Saint-Jean economy

October 11, 2012

Promoter - Project location Investment - Description - Contribution
Promotion Saguenay Inc.
(La Baie borough)
Non-repayable contribution of $440,000 / Total investment of $880,000

This project involves, among other things, enlarging the Théâtre du Palais municipal, acquiring a laser projection system for the show La Fabuleuse Histoire d'un Royaume, and equipping Agésilas-Lepage Wharf (the Saguenay port of call at La Baie) with a drinking water supply and wastewater treatment system.

Program: Support Initiative for International Cruise Development on the St. Lawrence and Saguenay Rivers
Air Defence Museum
(Bagotville)
Non-repayable contribution of $298,076 / Total investment of $732,076

The aim of this project is to improve the museum's appeal to cruise passengers, among others, and to increase the region's tourism offering.

Program: Support Initiative for International Cruise Development on the St. Lawrence and Saguenay Rivers

www.museebagotville.ca
Auberge Val-Menaud, solidarity cooperative
(Saint-Charles-de-Bourget)
Non-repayable contribution of $77,520 / Total investment of $373,735

The purpose of this project is to start up a new lodging facility in St-Charles-de-Bourget. CED is financing the experts' fees as well as the cost of setting up and furnishing the lodging units.

Program: Temporary Initiative for the Strengthening of Quebec's Forest Economies
Mercier, Industries en mécanique Ltd
(Jonquière borough)
Repayable contribution of $358,000/Total investment of $895,000

This project involves acquiring latest-technology equipment and reconfiguring the production area. In so doing, Mercier is seeking to increase its productivity and production capabilities and improve its competitiveness.

Program: Business and Regional Growth

http://mercierindustries.com/
Spectube Inc.
(Chicoutimi borough)
Repayable contribution of $228,500 / Total investment of $457,000

This project is aimed at commercializing higher value-added products on the United States market and breaking into new industrial sectors.

Program: Business and Regional Growth

www.alfiniti.com/
Sublimart Inc.
(Saint-Ambroise)
CED: Repayable contribution of $172,806 /
SADC du Haut-Saguenay: Loan of $31,000
/ Total investment of $424,607

This project involves the expansion of the company's plant and the acquisition and installation of manufacturing and management equipment to enable the enterprise to broaden the range and improve the quality of its products.

Program: Quebec Economic Development Program

www.sublimart.ca/
Équipements Saguenay (1982) Ltd
(Chicoutimi borough)
CED: Repayable contribution of $100,000 /
NRC-IRAP: Non-repayable contribution of $99,999 / Total investment of $300,000

The purpose of this project is to improve the enterprise's productivity through the implementation of an ERP (Enterprise Resource Planning) integrated management system. The initiative includes the acquisition and integration of software covering all of the organization's operations and divisions.

CED program: Quebec Economic Development Program

NRC-IRAP program: Digital Technology Adoption Pilot Program

www.equipementssaguenay.com/
Summary
Total number of projects: 7
Total contribution from Canada Economic Development: $1,674,902
Total investment generated by the projects: $4,062,418

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