Canada Economic Development for Quebec Regions (CED)
Supporting innovative manufacturing businesses contributes to economic development in Quebec's regions. That is why Carlos Leitão, Parliamentary Secretary to the Minister of Industry and Minister responsible for CED, today announced a repayable contribution of $1,800,000 for OSBLOCK™. This CED support will enable the Sainte-Monique SME to increase its productivity, competitiveness and production capacity.
OSBLOCK™ specializes in the manufacture of modular and structural products from recycled materials for the construction sector. Thanks to CED's funding, the business will be able to acquire equipment to integrate materials that are currently not recyclable into residential housing in Canada, in addition to increasing and improving its productivity. OSBLOCK™ will thereby increase its sales and create two jobs.
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 with strong roots in the regional economy; they are key assets in building a sustainable, inclusive economy.
Quotes
"SMEs are at the heart of community development. We help them invest in equipment that will enhance their performance, as demonstrated by CED's contribution to the project by OSBLOCK™. We are here to support workers and Quebec and Canadian SMEs, among other things by equipping them with what they need so that, together, we can build a stronger, more resilient, more sustainable economy. I am confident that the success and spin-offs of this expansion project will be felt right across the region and throughout Quebec and Canada."
The Honourable Mélanie Joly, Member of Parliament for Ahuntsic-Cartierville, Minister of Industry and Minister responsible for CED
"Today marks a new step forward in the development of OSBLOCK™. With CED's contribution, this Lac-Saint-Jean business is acquiring new higher-performance equipment to increase its capacity to produce modular and structural products from recycled materials. The manufacturing sector is a pillar of our economy, which is why the Government of Canada has committed to investing in our SMEs."
Carlos Leitão, Member of Parliament for Marc-Aurèle-Fortin and Parliamentary Secretary to the Minister of Industry and Minister responsible for CED
"Today's announcement will enable us to take a major step forward in our development by making it possible to establish a production line that will be fully dedicated to the recovery of orphan plastics otherwise destined for landfill. Our new process will enable us to avoid the disposal of several tonnes of material every year in landfills, in addition to supplying fully recycled materials that can be used in various construction-related sectors. We are convinced that this investment of over $5,000,000 will contribute to housing needs across Canada and will be a major turning point in the recovery of orphan plastics."
Marco Tremblay, President, OSBLOCK™
Quick facts
- Funding has been provided 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.
