Investment in the Economic Development of Greater Montreal to Promote Entrepreneurship

MONTRÉAL, QUEBEC--(Marketwired - July 31, 2015) - Canada Economic Development for Quebec Regions (CED)

The Honourable Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec, today announced funding to two South Shore businesses for productivity enhancement and to one organization for the provision of coaching, promotion and training activities to support entrepreneurs from the English-speaking minority in Basses-Laurentides.

This support, which totals $715,913, is being granted in the form of one non-repayable and two repayable contributions through CED's Quebec Economic Development Program.

Quick facts

• The beneficiaries of this financial assistance from the Government of Canada are Ecolopharm, Imprimerie Ste-Julie and the Fonds communautaire d'accès au micro-crédit.
• These contributions will enable the recipients to increase their production capacity and better serve their clientele, while helping maintain and create full-time jobs in the region.

Quote

"By supporting economic stakeholders in Greater Montréal, our government is keeping its focus on the economy. This is evident in our ongoing efforts to help businesses improve their productivity and become more competitive."

Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec

Related document

See the accompanying backgrounder for further details on these three projects.

Related links

For more about the QEDP: http://www.dec-ced.gc.ca/eng/programs/qedp/index.html

For more about Ecolopharm: http://www.ecolopharm.com/

For more about Imprimerie Sainte-Julie: http://www.impsj.com/

For more about the Fonds communautaire d'accès au micro-crédit: http://www.fondsmicrocredit.qc.ca/en/

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BACKGROUNDER

Investment in the economic development of Greater Montréal to promote entrepreneurship

Government of Canada funds three projects aimed at bolstering productivity and supporting the start-up and expansion of businesses in the region

July 31, 2015 - Montréal, Quebec - Canada Economic Development for Quebec Regions (CED)

The Honourable Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec, today announced funding to two Greater Montréal businesses for productivity enhancement and to one organization for the continued provision of services supporting English-speaking entrepreneurs in Basses-Laurentides.

Promoter	Contribution - Investment - Project description
Ecolopharm Inc.	Repayable contribution of $300,000 on a total investment of $875,000 In operation since 2009, Ecolopharm specializes in the eco-design of plastic containers for pharmacies. The company produces some 36 million vials a year, or about 25% of the prescription medicine containers in Canada. Ecolopharm's project involves raising its productivity and production capacity, on the one hand, and launching a first commercialization strategy in the United States, on the other. The firm is hoping to break into the American market within the next year.
Fonds communautaire d'accès au micro-crédit (FCAMC)	Non-repayable contribution of $235,913 on a total investment of $874,619 Since its founding 15 years ago, the Fonds communautaire d'accès au micro-crédit (FCAMC) has been dedicated to helping new entrepreneurs in the Basses-Laurentides region find the financing they need to carry out their business projects. The organization provides these entrepreneurs with coaching services, from start-up through to business consolidation, for a period of up to five years to help optimize their chances of success. The Fonds, which also offers microcredit, operates on the territories of the Thérèse-De-Blainville, Deux-Montagnes and Mirabel RCMs, three of the eight RCMs in the Laurentides region. This area encompasses approximately 53% of the region's population. The organization's project is aimed at promoting the economic development of official language minority communities in Basses-Laurentides and involves funding the coaching, promotion and training activities supporting English-speaking entrepreneurs over the next three years.
Imprimerie Ste-Julie Inc.	Repayable contribution of $180,000 on a total investment of $532,500 Celebrating its 40th anniversary in 2015, Imprimerie Ste-Julie is a family-run business offering customized printing of self-adhesive labels and stickers by flexography and digital printing methods. In 1998, the purchase of specialty presses enabled the firm to position itself as a pioneer in the field of digital printing in North America. The aim of the company's project is to increase productivity through the acquisition of specialized equipment that will allow it to implement a new integrated process for the design, printing, post-press production and application of shrink sleeves. Imprimerie Ste-Julie employs 85 people and engages in ongoing research and development.

Summary
Total number of projects:	3
Total contribution from CED:	$715,913
Total investment generated by these projects:	$2,282,119