The Government of Canada awards $500,000 in funding to this highly innovative Greater Montréal business
KIRKLAND, QC, May 21, 2019 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
Reflex Photonics is a leader in the design, manufacturing and marketing of electronic optics and photonic products for the defence, aerospace and telecom sectors, and for data centres. It supplies rugged embedded transceivers for interconnection in harsh environments. This highly innovative company has posted impressive growth in recent years; in 2018, it invested over $2 million in research and development.
To help it maintain its momentum, the company has been awarded a $500,000 repayable contribution from Canada Economic Development for Quebec Regions. This financial assistance will allow Reflex Photonics to acquire specialized state-of-the-art equipment, including an error rate tester and analysis software, as well as process automation equipment.
The funding was announced today by the Member of Parliament for Lac-Saint-Louis, Francis Scarpaleggia. Specifically, this Government of Canada assistance will allow Reflex Photonics Inc. to meet the growing demand of prime contractors, increase its production and ensure better quality control of its products. With a total investment of almost $2 million, this project will also result in the creation of high-value jobs that will help increase economic opportunities for the middle class.
The Government of Canada is committed to supporting innovative Canadian businesses. A driving force of the economy, innovation is the key to success because it generates growth that benefits both businesses and communities. This is why we are committed to ensuring that businesses are able to rely on adequate resources to create and market innovative products.
"Support for high-tech companies helps strengthen the Canadian economy, maintain our international competitiveness and generate wealth. High-performing and forward-looking, Reflex Photonics unquestionably contributes to the economic growth of both Montréal and Canada as a whole, and creates jobs for the middle class."
Francis Scarpaleggia, Member of Parliament for Lac-Saint-Louis
"Our government gives Canadians the means to become more competitive and to thrive in the global economy. The funding announced today for Reflex Photonics is in line with Canada's competitive advantages generated through this company's expansion project, and will boost economic growth."
The Honourable Navdeep Bains, Minister responsible for CED
"We are privileged to have loyal, passionate and dedicated employees that have contributed immensely to the success of Reflex in the recent years. Certainly, our strategic partners, both clients and suppliers have also been a source of continuous motivation to develop new products and technology with high added value. I am also very honoured to lead Reflex, which is now recognized internationally as a leader in its industry. The investments from our financial partners, as well as the expansion of our head office, allow the company to continue its growth while adapting to the needs of the markets that we service."
Noël Dubé, President and CEO, Reflex Photonics Inc.
Today's announcement was made on behalf of the Honourable Navdeep Bains, Minister responsible for the Innovation, Science and Economic Development portfolio, which is made up of 17 federal departments and agencies, including CED and the other five regional development agencies.
The funding was provided under CED's Regional Economic Growth through Innovation program. This program targets entrepreneurs who leverage innovation to grow their businesses and make them more competitive, and regional economic stakeholders who help create an entrepreneurial environment conducive to innovation and inclusive growth in all regions.
SOURCE Canada Economic Development for Quebec Regions
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