Subjects: ECO, CPG, CFG
Government of Canada invests to enhance Luxo Marbre's competitiveness
Saint-Rémi business receives $335,000 in financial assistance from CED.
SAINT-RÉMI, QC, Jan. 17, 2024 /CNW/ - Canada Economic Development for Quebec Regions (CED)
Supporting business competitiveness contributes to economic development in Quebec's regions. That is why the Honourable Marie-Claude Bibeau, Member of Parliament for Compton?Stanstead and Minister of National Revenue, accompanied by Brenda Shanahan, Member of Parliament for Châteauguay?Lacolle, today announced, on behalf of the Honourable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for CED, a repayable contribution of $335,000 for Luxo Marbre. This CED support will enable the business to become more competitive.
Founded in 1992, Luxo Marbre designs, assembles, and markets a wide range of vanities, sinks, quartz tops, and bathroom accessories. In 2022, the business added to its production line a range of ready-to-install (lacquered paint technology) kitchen cabinets that will be pre?assembled at its plant; in the past, its products were fully manufactured and assembled in China. To remain competitive, Luxo Marbre has therefore repatriated its sub?assembly operations, which require digital production equipment (lifting robots and conveyors, among other things). In addition, it is seeking to develop an innovation department, as well as aiming to deploy an international marketing strategy. All of these activities will be possible thanks to CED's support.
The Government of Canada recognizes and supports businesses and organizations that are a source of pride in their communities. Quebec's economic growth relies, among other things, on a manufacturing sector with organizations rooted in the regional economy. The players in this industry are key assets in building a sustainable, inclusive economy.
"Today's announcement demonstrates once again our government's commitment to manufacturing businesses in Quebec and Canada. By helping Luxo Marbre become more competitive and market its products internationally, we are supporting a local business as it expands into new markets, and we are continuing to promote Canadian products around the world."
The Honourable Marie-Claude Bibeau, Member of Parliament for Compton?Stanstead and Minister of National Revenue
"SMEs are at the core of community development and are part of our government's economic recovery plan. That is why I am delighted with CED's support for this project by Luxo Marbre, to help it continue to grow and develop new markets. This innovative SME's contribution to the economic vitality of the MRC des Jardins?de?Napierville is undeniable! Without a doubt, the success and spin?offs of its project will be felt right across the region and throughout Quebec and Canada."
The Honourable Soraya Martinez Ferrada, Member of Parliament for Hochelaga, Minister of Tourism and Minister responsible for CED
"We are continuing to work with innovative manufacturers such as Luxo Marbre to provide them with the tools needed to develop innovative technologies and processes. Thanks to our government's support, they can leverage innovation, a veritable economic engine and pillar of growth, and stimulate the local economy."
Brenda Shanahan, Member of Parliament for Châteauguay?Lacolle
"The context of today's market presents certain difficulties in the face of a new business reality, and this offers many opportunities for us to reinvent ourselves and innovate. We are therefore very grateful to have CED's support to guide us in growing our market share. Thanks to the infrastructure put into place by our predecessors, today we can have the ambition to be a leader in North America, with the certainty that Luxo Marbre's brand recognition is such that we have what we need to reach our target."
Mathieu Gosselin, President, Luxo Marbre
- The funds have been granted under CED's Regional Economic Growth through Innovation program. This program targets entrepreneurs leveraging innovation to grow their businesses and enhance their competitiveness, as well as regional economic stakeholders helping to create an entrepreneurial environment conducive to innovation and growth for all, across all regions.
- In Quebec, SMEs account for 99.7% of the province's businesses and 50% of its GDP.
- CED is the key federal partner in Quebec's regional economic development. With its 12 regional business offices, CED accompanies businesses, supporting organizations and all regions across Quebec into tomorrow's economy.
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SOURCE Canada Economic Development for Quebec Regions
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