Canada Economic Development

Canada Economic Development

October 07, 2011 10:00 ET

Government of Canada Supports Murdochville in its Economic Diversification Efforts

MURDOCHVILLE, QUEBEC--(Marketwire - Oct. 7, 2011) - The Honourable Denis Lebel, Minister of Transport, Infrastructure and Communities and Minister of the Economic Development Agency of Canada for the Regions of Quebec, announces that the Town of Murdochville has been granted $477,000 in non-repayable financial assistance to carry out a variety of economic diversification activities.

"Quebec's regions can count on the Government of Canada to support them in their economic repositioning initiatives. The project of the Town of Murdochville, which is making considerable efforts in this regard, deserves our support," noted Minister Lebel.

Murdochville will use this funding to conduct studies on business opportunities and promising market niches. Prospecting and solicitation activities will also be organized so as to attract new enterprises in the recreational tourism and renewable energy sectors. These steps will enable Murdochville to develop a diversified and dynamic economy and give it the tools to build a bright future.

After the shutdown of its sole employer, in 2003, the town designed and implemented a sustainable development strategy, which Canada Economic Development has supported since 2007. The project announced today brings the Government of Canada's total funding commitment to the people of Murdochville to $1,348,200.

Murdochville's stimulus activities have allowed for a breakthrough in the wind energy sector, the establishment of two enterprises, studies on biomass conversion and the geothermal potential of the former copper mine groundwater, as well as two recreation and tourism projects.

This financial assistance has been awarded through the Community Diversification program.

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