Canada Economic Development

Canada Economic Development

December 06, 2010 11:54 ET

Temporary Initiative for the Strengthening of Quebec's Forest Economies: Government of Canada funds startup of LVL Global Inc.

VILLE-MARIE, QUEBEC--(Marketwire - Dec. 6, 2010) - The Honourable Denis Lebel, Minister of State for Canada Economic Development, today announced a contribution of $602,000 in repayable funding to the firm LVL Global Inc. through the Temporary Initiative for the Strengthening of Quebec's Forest Economies (TISQFE).

"The Temporary Initiative for the Strengthening of Quebec's Forest Economies is going extremely well. I am delighted that we are well on our way to reaching our goal of investing $50 million in Quebec in the first year of the initiative. I invite more Abitibi-Témiscamingue companies and organizations to submit their projects to us," stated Minister of State Lebel.

LVL Global, which specializes in the manufacture of laminated veneer lumber will stabilize the building, adding safety structures to ensure that the production equipment can be properly installed. The company will also acquire an operations management information system. This project will result in the creation of 80 short-term jobs.

In effect since June 2010, the TISQFE is aimed at helping communities affected by the forestry crisis diversify their economies in order to secure their growth and create and maintain employment. "Its goal is also to support small and medium-sized enterprises in these communities in their efforts to ensure their survival and sustainable development. Canada Economic Development's contribution to LVL Global is a prime example of that," added Mr. Lebel.

The TISQFE is one of a series of measures our government has introduced in recent months to counteract the effects of the forestry crisis. Others include the $1 billion granted to the Pulp and Paper Green Transformation Program to help enterprises carry out environmentally-friendly projects within their facilities and the $230 million invested, in collaboration with the Government of Quebec, for silvicultural work and the restoration of bridges and culverts on forest roads. Workers are also benefiting from their fair share of support, with the Government of Canada introducing some of the most generous measures in history to help them through the economic crisis. 

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