Harper Government Helps TeraXion Improve Productivity and Commercialization

QUEBEC CITY, QUEBEC--(Marketwire - Nov. 9, 2011) - Acting on behalf of the Honourable Denis Lebel, Minister of Transport, Infrastructure and Communities and Minister of the Economic Development Agency of Canada for the Regions of Quebec, the Honourable Steven Blaney, Member of Parliament for Lévis–Bellechasse and Minister of Veterans Affairs, today announced that the firm TeraXion has been granted financial assistance to improve its productivity and strengthen its competitiveness.

"Our government is proud to support companies that create jobs and stimulate economic growth," said Minister Blaney. "By investing in innovation and technology, dynamic enterprises like TeraXion and their visionary entrepreneurs are working to develop Canadian sectors of excellence and helping reinforce the economic recovery."

With this funding, TeraXion was able to acquire higher-performance, more energy-efficient lasers and carry out a series of commercialization activities aimed at helping the company strengthen its presence on foreign markets and increase its exports.

TeraXion is a leader in the design and development of high-level optical solutions for the optical communications, industrial lasers and optical sensing markets. The firm is also a world leader in the correction of optical signals for high-speed data transmission. Its primary clients include large enterprises in the telecommunications, defence equipment and aeronautics sectors. Founded in 2000, TeraXion conducts all of its operations, from research and development to manufacture, at its Québec facilities. The company's products are exported to some 40 countries.

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This repayable contribution of $400,000 has been granted through Canada Economic Development's Business and Regional Growth program, whose objectives include helping enterprises improve their productivity through the adoption of innovative technologies and processes and the acquisition of leading-edge equipment.

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Business and Regional Growth - Québec

The Business and Regional Growth program strengthens the conditions conducive to the sustainable growth of Quebec's regions and small- and medium-sized enterprises (SMEs). Administered by the Economic Development Agency of Canada for the Regions of Quebec, this program centres on two main components: SME Competitiveness and Sectoral and Regional Growth.

For the Québec Metropolitan Community (Québec Metropolitan Area, the City of Lévis and the Jacques-Cartier, Côte-de-Beaupré and Île-d'Orléans RCMs), the Agency's priority is to support projects that promote the development of the following sectors:

• life sciences, health and nutrition (human health and medical equipment; agrotechnologies and agrifood)
  
  
• applied technologies (optics-photonics; computer-based solutions and computer technologies; security and defense; Green Building)
  
  

For the Portneuf RCM, whose economy is more heavily based on the manufacturing sector, the Agency's priority is to support projects that promote the development of the following sectors:

• agrifood
  
  
• materials processing (secondary wood processing; composite materials; plastics; metal products)

For the Charlevoix and Charlevoix-Est RCMs, whose economy is comparable to that of the outlying regions, the Agency's priority is to support projects that promote the development of the following sectors:

• agrifood
  
  
• forest products
  
  
• tourism

Preference is given to the following types of intervention:

• productivity support
  
  
• innovation support
  
  
• export support