CED contribution will enable manufacturing group to modernize its equipment and increase its production capacity in order to become more competitive.
Today, Bienvenu-Olivier Ntumba, Member of Parliament for Mont-Saint-Bruno‒L'Acadie, is announcing, on behalf of the Honourable Mélanie Joly, Minister of Industry and Minister responsible for CED, a repayable contribution of $500,000 for Paco Group Inc. Thanks to CED's investment, the organization will be able to design and manufacture a range of custom-made production equipment for the Longueuil plant, thereby helping to improve its competitiveness. Paco Group's businesses (Gala Systems, Paco Spiralift and Akvo Spiralift) specialize in the design, manufacture and marketing of lifting solutions for various applications.
This investment is part of our plan to strengthen the resilience and competitiveness of the manufacturing industry, in addition to supporting the growth of homegrown businesses so they can better integrate into Canadian value chains.
Across Quebec, manufacturers play a key role in regional economic vitality. They innovate, produce, export and help build a stronger, more unified Canadian economy. By leveraging manufacturing businesses in our regions, the Government of Canada is investing in the country's pride, sustainability and economic sovereignty. Products made here at home, by Canadian entrepreneurs, are finding their place in our supply chains and in the daily lives of Canadian consumers.
Quotes
"Homegrown businesses are at the heart of our economy. By supporting Paco Group, we are investing in productivity, innovation and competitiveness in Quebec's manufacturing sector. This is also a concrete way to leverage our very own talent and know-how, key strengths to build a stronger, more resilient and proudly Canadian economy."
The Honourable Mélanie Joly, Member of Parliament for Ahuntsic-Cartierville, Minister of Industry and Minister responsible for CED
"This project demonstrates all that we can accomplish when we believe in homegrown talent, such as what we see at Paco Group. Together, we are strengthening our businesses, our jobs and our collective pride-so that every innovation developed here at home, in Quebec, helps to build a stronger, more resilient Canada that is resolutely looking to the future."
Bienvenu-Olivier Ntumba, Member of Parliament for Mont-Saint-Bruno‒L'Acadie
"To succeed internationally, it is not enough to just have a good product; you need to be competitive with your prices and delivery timelines. The investments in the production line align with this strategy, and CED's support plays an essential role in making it a reality."
Philippe Laforest, President, Paco Group
Quick facts
- Funding has 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.
- A pillar of the Quebec economy, the manufacturing sector in 2024 represented 12.3% of the province's GDP and 86.1% of its exports. It included 13,601 businesses, generated global sales of $219.1 billion and employed 501,500 people across the province. (Source: Manufacturiers et Exportateurs du Québec, 2024)
- 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.
