MONTRÉAL, QUÉBEC--(Marketwired - March 16, 2017) - Canada Economic Development for Quebec Regions (CED)
Innovation is a true economic driver that helps our businesses grow. They need adequate resources for research and development and to design and manufacture innovative products, and commercialize them in Canada and abroad. That is why the Government of Canada is committed to supporting innovative enterprises such as REFLEX PHOTONICS.
Acting on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED, Francis Scarpaleggia, Member of Parliament for Lac-Saint-Louis, announced that REFLEX PHOTONICS has been granted $500,000 in financial support, in the form of a repayable contribution, to buy specialized equipment and make leasehold improvements in new facilities that meet photonics industry standards. The funding was granted under the Quebec Economic Development Program (QEDP).
The expansion project was launched in spring 2016 to expand the business's production capacity so that it could meet growing global demand for its products. REFLEX PHOTONICS develops, manufactures and commercializes industrial-grade electronic optic/photonic components for the defence, aerospace, telecommunications and data centre markets, and for equipment manufacturers. The enterprise has designed a multi-channel transmitter, part of the LightABLE series, for the high-speed transmission of digital signals through optical engines that can be mounted directly on high-speed printed circuit boards.
Following a total investment of nearly $2 million from the enterprise and its partners, REFLEX PHOTONICS was able to expand its production capacity to increase sales and exports. The expansion has helped the business consolidate more than 24 existing jobs and create 13 new ones.
CED is one of six regional development agencies under the responsibility of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.
"For sustained and inclusive growth, the Canadian economy needs businesses to invest in their futures through research and development, the acquisition of state-of-the-art equipment and the commercialization of their products. A high-performing and forward-looking enterprise, REFLEX PHOTONICS is contributing to the economic growth of Montréal and Canada and creating jobs for the middle class."
- Francis Scarpaleggia, Member of Parliament for Lac-Saint-Louis
"The Government of Canada is commited to making Canada a global leader in innovation. That is why I am proud that CED is supporting this Quebec enterprise, which has dared to build on innovation, a true economic driver, to be able to seize new business opportunities. Improving the quality of life for the middle class is essential to Canada's prosperity, and that undeniably happens through investing in innovation."
- The Honourable Navdeep Bains, Minister responsible for CED
"We want to thank Canada Economic Development for the financial assistance. We are a small enterprise with big ideas and, through this support, we were able to buy the equipment we needed to increase sales of our innovative products in demanding marketplaces such as the aeronautics and defence markets. This support is crucial in enabling us and other Canadian businesses to position ourselves as global leaders in innovation."
- Noël Dubé, President, REFLEX PHOTONICS
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