Quebec and Ottawa are granting nearly $2 million to five Saint-Hyacinthe businesses to grow and intensify their marketing efforts

Support for the development of five Saint-Hyacinthe businesses

SAINT-HYACINTHE, QC, Jan. 15, 2019 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)

The Governments of Quebec and Canada are allocating a total of $1,959,143 in funding to Dose Juice Inc., SimLeader, Metchro Products Inc., E-Cargo Tarps Inc. and PrevTech Innovations inc. With this funding, these five Saint-Hyacinthe companies will be able to develop their businesses by increasing their production, marketing and export capacity for their innovative and high-quality products. The total for these investment projects is estimated at over $5 million (details of the announced contributions are presented in the Appendix).

The Honourable Chrystia Freeland, Minister of Foreign Affairs, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Canada Economic Development for Quebec Regions (CED), and Member of the National Assembly for Saint-Hyacinthe, Chantal Soucy, on behalf of Pierre Fitzgibbon, Minister of Economy and Innovation and Minister Responsible for the Lanaudière Region, made the announcement today. These initiatives will create over 40 jobs in the Montérégie region.

The Government of Québec and Investissement Québec (IQ) are providing nearly $1 million in funding to these innovative businesses to support their plans to acquire specialized equipment or to develop markets outside of Quebec. Dose Juice and Metchro Products will receive a total of $900,000 in loans from IQ's own funding as well as the ESSOR program run by the Ministère de l'Économie et de l'Innovation (MEI). E-Cargo Tarps, PrevTech Innovations and SimLeader will in turn receive a total of $94,143 in financial contributions through the MEI's Programme Exportation (PEX).

The Government of Canada is providing a total of $965,000 in financial assistance. The funding was awarded under CED's Quebec Economic Development Program in the form of repayable contributions.

Quotes

''Innovation is an important economic driver that contributes to the growth of businesses and the creation of good jobs for the middle class. Today we are celebrating five businesses in the region whose innovative approaches have strengthened the local, Quebec, and Canadian economies."
The Honourable Chrystia Freeland, P.C., M.P., Minister of Foreign Affairs

"The Government of Quebec is proud to support these five Maskoutan businesses in their growth and export efforts, which will undoubtedly contribute to further stimulating the economies of Saint-Hyacinthe and the greater Montérégie area. These kinds of initiatives are also essential for strengthening Quebec expertise and showcasing it throughout various markets outside of Quebec." 
Chantal Soucy, Member of the National Assembly for Saint-Hyacinthe

"By helping businesses invest in equipment and devices that will enhance their performance, and by promoting product marketing and market development projects, the Government of Canada is standing by its commitment to foster expansion, innovation and exports. I am also delighted to know that these projects will help create more than 40 high-quality jobs in the Montérégie region."
The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED

"The manufacturing industry plays a crucial role in wealth creation. We have made this a strategic priority at Investissement Québec, and we will continue to encourage our businesses to invest in going digital. We are proud to support these businesses and to contribute to economic growth in the regions." 
Pierre Gabriel Côté, President and CEO of Investissement Québec

"In the three years since our business arrived in Saint-Hyacinthe, we have been able to rely on financial support from CED and a number of other local stakeholders twice already to support our growth. Their drive helped us realize business opportunities quickly."  
Raphael Hubert, Co-founder, Dose Juice Inc.

"SimLeader has quickly become a world leader in simulation. We consider CED's and MEI's contributions to be concrete actions towards creating our products and exporting our knowledge."
Robert-François Demers, General Manager, Business Development, SimLeader

"The financial contribution from Economic Development Canada for Quebec Regions was included in an overall funding package with participation from local financial partners. We have been able to count on solid stakeholders who listen to our needs and want us to succeed."
David Chabot, General Manager and Co-Owner, Metchro Products Inc.

"E-Cargo Tarps is very grateful for CED's and the MEI's contributions. This funding has helped us considerably increase our North American presence while creating new, high-quality jobs locally."
Kendrick Martin, Chairman, E-Cargo Tarps Inc.

"Creativity and innovation are distinctive assets of Canadian entrepreneurs. This support from CED and the MEI is an essential tool in promoting and marketing our collective potential. PrevTech is fortunate enough to be able to count on this kind of support. We also consider CED's and the MEI's contributions to be concrete actions towards protecting our agricultural heritage. Agricultural loss prevention is a significant factor in productivity for this crucial sector of our economy."
Pierre-André Meunier, Founder & Owner, PrevTech Innovations inc.

Highlights

• The goal of the Ministère de l'Économie et de l'Innovation's ESSOR program (website in French only) is to support Quebec investment projects with a view to improve competitiveness and productivity, create jobs and support sustainable development.
• The goal of the PEX program (website in French only) is to make Quebec businesses aware of the growth potential of exports and to support them in developing and diversifying foreign markets.
• CED is one of the six regional development agencies under the responsibility of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.
• For 50 years now, the Government of Canada has been actively participating in regional economic development in Quebec: half a century of concrete actions devoted to the development of the regions and local businesses.

Related links

For more information about CED and its priorities, consult the 2018-2019 Departmental Plan or visit Canada Economic Development for Quebec Regions.
To receive real-time news releases from the Ministère de l'Économie et de l'Innovation, subscribe to the appropriate RSS feed at www.economie.gouv.qc.ca/rss.
Follow MEI on Twitter, Facebook, Linkedin and YouTube 
Follow CED on Twitter, Linkedin and YouTube

SOURCE Canada Economic Development for Quebec Regions