Canada Economic Development

Canada Economic Development

November 16, 2012 14:30 ET

Textiles Techniques Chaudiere-Appalaches Receives Financial Support From Government of Canada

SAINT-ÉPHREM-DE-BEAUCE, QUEBEC--(Marketwire - Nov. 16, 2012) - 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 Maxime Bernier, Minister of State (Small Business and Tourism), today announced that the firm Textiles techniques Chaudière-Appalaches has been granted financial assistance for the acquisition of technical equipment.

"By lending financial support to Textiles techniques Chaudière-Appalaches, our government is acknowledging once more the fundamental role that businesses play in the economic growth of our regions," said Minister Bernier.

The enterprise will use the government funding to set up a revalorization centre for the production of quality recycled fibres for eventual reintegration into the supply chain. The centre will serve as the site for research projects on the development of environmentally-friendlier manufacturing processes.

More concretely, this Textiles techniques Chaudière-Appalaches project will enable many Beauce manufacturers to overcome certain of the challenges associated with the supply of high-quality technical fibres and thereby improve their international competitiveness. The region also stands to benefit from the implementation of this innovative project, which is sure to help diversify and strengthen the local economy.

About the Temporary Initiative for the Strengthening of Quebec's Forest Economies (TISQFE)

This financial assistance has been granted in the form of a $222,800 repayable contribution through Canada Economic Development's Temporary Initiative for the Strengthening of Quebec's Forest Economies (TISQFE).

The TISQFE was brought into force in June 2010 to help communities affected by the forestry crisis diversify their economies in order to ensure their growth and create and maintain employment. The initiative's goal is also to support secondary and tertiary wood processing projects in these communities.

This measure is one of several put in place by the Government of Canada to counteract the effects of the forest crisis. Others include the Community Adjustment Fund, with its $1-billion budget over two years to mitigate the impact of the crisis, the $1 billion granted to the Pulp and Paper Green Transformation Program to help enterprises carry out environmentally-friendly projects, and the $238 million invested, in collaboration with the Government of Quebec, for silvicultural work and the maintenance of multi-use forest roads. Workers have also received their fair share of support, with the Government of Canada introducing numerous measures to help them through the global economic crisis.

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