MIL-OSI Translation: $245 million for the economic development of rural communities in Quebec

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MIL OSI Translation. Canadian French to English –

Source: Government of Canada – in French

DEC announces the renewal of agreements with SADCs, CAEs, the SADC and CAE Network and Capital Réseau.

Rivière-du-Loup (Quebec), June 14, 2024 – Canada Economic Development for Quebec Regions (DEC)

The 57 Community Development Assistance Corporations (SADCs), the 10 Business Assistance Centers (CAEs), the Network of SADCs and CAEs, as well as Capital Réseau play an essential role in the economic development of rural communities in Quebec. Supporting the diversification of the regional economy is a priority for the Government of Canada; consequently, these organizations will benefit from total financial support of $245 million. The Honorable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for DEC, made the announcement today.

More specifically, support of $177 million for the period 2024-2029 will allow them to continue their mission with rural communities, which consists of promoting the development of local economies, supporting start-up businesses and supporting SMEs in their strategies. growth, while paying particular attention to more devitalized sectors. To this amount is added access to additional funds of $68 million to strengthen the intervention capacity of organizations and make investments for the green transition, digital technology, business transfer in rural areas and young people. This new funding approach will provide resources and flexibility to organizations, in addition to strengthening their capacity for action with a new model of regional and collective intervention.

The Government of Canada recognizes and supports businesses and organizations that are a source of pride in their communities. Quebec’s economic growth relies on organizations well anchored in the regional economy; they constitute key assets for building a sustainable and inclusive economy.

Quotes

“SADCs and CAEs make a real difference in our communities and businesses throughout Quebec. DEC is proud to be able to count on the Network and its members, true key partners, for the prosperity of our regions and their businesses for 29 years now. Congratulations to the professionals and volunteers of your organizations who closely monitor the needs of Quebec’s entrepreneurial ecosystem. »

The Honorable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for DEC

“The regions of Quebec face economic challenges that are specific to them and the SADC and CAE are there to help them meet them. We have ambition for our regions and with our main business partner Canada Economic Development for the regions of Quebec, as well as in complementarity with local partners, we will continue to propel collective and business projects towards success. »

Pascal Harvey, President and CEO, SADC and CAE Network

Quick facts

The announced contribution is granted under the Community Development Program (PDC), which is implemented in Quebec by DEC. This national program supports local economic development and strengthens the capacity of communities to achieve their full potential in a sustainable manner. The partnership between DEC, the SADCs, the CAEs and the Réseau des SADC et CAE is concretized by the signing of contribution agreements and aims to continue this fruitful collaboration for the benefit of rural communities in Quebec. Each year, approximately 10,000 businesses benefit from the services of SADCs and CAEs, which translates into an average annual investment of $70 million in Quebec communities. SADCs, in addition, are involved in more than 1,250 economic development projects each year. Quebec SMEs account for 99.7% of businesses and contribute to 50% of the province’s GDP. DEC is the key federal partner in regional economic development in Quebec. Thanks to its 12 regional business offices, DEC supports businesses, support organizations and all regions of Quebec towards the economy of tomorrow.

Related links

Information

Media RelationsCanada Economic Development for Quebec Regionsmedia@dec-ced.gc.ca

Marie-Justine TorresPress SecretaryOffice of the Minister of Tourism and Minister responsible for Canada Economic Development for Quebec RegionsCell. : 613-327-5918marie-justine.torresames@ised-isde.gc.ca

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EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.

MIL Translation OSI