Canada Economic Development for Quebec Regions (CED)
Today, Stéphane Lauzon, Member of Parliament for Argenteuil-La Petite-Nation, announced, on behalf of the Honourable Mélanie Joly, Minister of Industry and Minister responsible for CED, a repayable contribution of $306,000 for Recytronic. This CED funding will make it possible to support the business's launch and aligns with the Government of Canada's commitment to assist manufacturing businesses, an essential driver of economic development in Quebec's regions.
Recytronic specializes in manufacturing composite materials from recycled circuit boards. With a target of zero waste, Recytronic will use a new process to recover non-metallic content from electronic and computer circuits, for use in other products such as construction materials. This financial assistance will enable the business to acquire and install equipment to manufacture composite materials and to complete leasehold improvements.
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 core of community development and are a key component of our government's economic plan. CED's investment in Recytronic will accelerate the business's growth and expansion of its operations. The manufacturing sector is an engine of Quebec's economy, and our government will continue to invest strategically so it remains innovative and competitive."
The Honourable Mélanie Joly, Member of Parliament for Ahuntsic-Cartierville, Minister of Industry and Minister responsible for CED
"Today marks a wonderful step for Recytronic, which will be able to acquire and install equipment thanks to CED's support. The entire team can be proud of this start-up project, which will contribute to the environmental transition. The manufacturing industry is a pillar of our economy, which is why our government is committed to investing so that our SMEs remain innovative and competitive."
Stéphane Lauzon, Member of Parliament for Argenteuil-La Petite-Nation
"CED's support means a great deal for our team. It gives us the means to make our vision a reality, to give new life to materials from circuit boards by integrating them into the manufacture of new composite materials. We are proud to contribute, at our level, to a more sustainable economy in Lachute and in Quebec."
Steve Chartrand, Co-founder and Operational President, Recytronic
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.
- 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.
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Canada Economic Development for Quebec Regions
