Canada Economic Development for Quebec Regions

Canada Economic Development for Quebec Regions

January 22, 2015 10:30 ET

Saguenay Entrepreneurship Gets a Boost From the Government of Canada

SAGUENAY, QUEBEC--(Marketwired - Jan. 22, 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 that two Saguenay businesses and a college technology transfer centre have been granted financial assistance to acquire state-of-the-art equipment.

This support, awarded through CED's Quebec Economic Development Program (QEDP), is being provided in the form of three contributions, two repayable and one non-repayable, totalling $718,310.

Quick facts

  • The recipients of this financial assistance are Centre de géomatique du Québec Inc., Morin Énertech Inc. and Dynamic Concept.
  • The contributions will be used for the acquisition of production equipment, the expansion of a plant and the implementation of a market development strategy.

Quote

"By supporting Morin Énertech, Dynamic Concept and the Centre de géomatique du Québec in acquiring cutting-edge technology, our government is showing once again that it is committed to investing in projects that help generate economic growth."

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 link

To learn more about the QEDP:

http://www.dec-ced.gc.ca/eng/programs/qedp/index.html

Stay connected

Follow CED on Twitter @CanEconDev

BACKGROUNDER

Saguenay entrepreneurship gets a boost from the Government of Canada

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 that two Saguenay businesses and a college technology transfer centre have been granted financial assistance to acquire state-of-the-art equipment.

Promoter Contribution - Investment - Project Description
Dynamic Concept Repayable contribution of $335,000 on a total investment of $670,000

Dynamic Concept provides custom-fit equipment and systems to producers of light metals, such as aluminium. The company designs and manufactures, among others, casting wells and tables for the production of aluminium pads and ingots, continuous casting systems, handling, remelt and molten metal preparation systems and automation systems.

The assistance granted will serve to increase production capacity and expand the company's activities to meet the needs and growing demand of its clients. This process will also improve the productivity of Dynamic Concept. The completed project also includes expansion of the enterprise's facilities and the acquisition of manufacturing and computer equipment.

Dynamic Concept expects the project will result in the creation of a dozen new jobs.

Company Website: http://www.dynamic-concept.ca/en/
Morin Énertech Inc. Repayable contribution of $215,150 on a total investment of $430,300

Morin Énertech Inc. provides solutions such as designing energy efficient equipment for buildings and cutting-edge environmental equipment. In recent years, the 23-employee business has developed a one-of-a-kind automated system to sample exhaust emissions from aluminium pot rooms.

Morin Énertech will use the financial assistance to commercialize its services and new sampler in North America, Europe and the Middle East. The enterprise plans to hire two representatives, demonstrate its product, participate in trade shows, produce promotional material and update its Website. Once completed, the project is expected to create some 10 new jobs.

Morin Énertech clients are mainly in the industrial, commercial and institutional sectors. Aluminium smelters and steel works have strong market development potential.
Centre de géomatique du Québec Inc. Non-repayable contribution of $168,160 on a total investment of $210,200

Centre de géomatique du Québec (CGQ) is a college technology transfer centre affiliated with the Chicoutimi CEGEP. Its mandate is to help SMEs and other organizations innovate and improve their performance through the use and development of geomatics. The main services offered by CGQ are support and guidance for SMEs and NPOs, applied research and the dissemination of information.

The assistance is intended to help the Centre de géomatique du Québec's enhance its service offering. The project involves acquiring state-of-the-art imagery equipment (geospatial data capture, processing and storage).

Geomatics is used in many activity sectors, such as agriculture, transportation and environmental management. This science helps develop "smart", searchable maps used for land-use planning, emergency preparedness, infrastructure management, etc.

Company Website: http://www.cgq.qc.ca/
Summary
Number of projects: 3
Total contribution from CED: $ 718,310
Total investment generated by these projects: $ 1,310,500

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