Canada Economic Development for Quebec Regions (CED)
Supporting SME growth through the adoption of advanced and digital technologies contributes to economic development in Quebec's regions. That is why the Honourable Steven MacKinnon, Member of Parliament for Gatineau and Chief Government Whip, on behalf of the Honourable Pascale St-Onge, Minister of Sport and Minister responsible for CED, today announced a repayable contribution of $400,000 for Prizma Industrial Coatings. This CED support will enable it to increase its production capacity, improve its productivity, and digitize its business.
Prizma Industrial Coatings is an electrostatic powder and liquid painting business specializing in custom industrial coatings. To grow and digitize its operations as well as enhance its services, the Gatineau business will be able to acquire and install automated manufacturing equipment to conquer new markets. This project will help diversify Gatineau's economy and strengthen its entrepreneurial and industrial fabric.
The Government of Canada recognizes and supports businesses and organizations that are a source of pride in their communities. Quebec's economic recovery relies on organizations with strong roots in the regional economy. They are major contributors to growth, as well as key assets in rebuilding a stronger, more resilient, greener, and more just economy for all.
Quotes
"Today's announcement is proof once again of the Government of Canada's commitment to Gatineau's manufacturing businesses, in line with our economic recovery plan. By helping them pursue their operations and by stimulating their growth, the government is helping to ensure Quebec's manufacturing industry plays a major role in Canada's economic recovery."
The Honourable Steven MacKinnon, Member of Parliament for Gatineau and Chief Government Whip
"SMEs are central to economic growth in our communities, and supporting their growth is a priority for our government. Through our contribution, Prizma Industrial Coatings will be able to improve its production line by purchasing automated equipment. Its contribution to Gatineau's economic vitality is considerable, and not only will the Outaouais region, but all of Quebec and Canada will benefit from the success and spin-offs of its project."
The Honourable Pascale St-Onge, Member of Parliament for Brome-Missisquoi, Minister of Sport and Minister responsible for CED
"We wish to thank CED for its financial assistance, which has enabled us to move ahead with our project to acquire new equipment in order to increase our operational efficiency and automate certain processes to help us overcome our labour shortage. This support is also enabling us to expand and refit our plant so that we can be more competitive and make further breakthroughs with major prime contractors and in the aerospace sector."
Josée Proulx, Co-owner and Vice-President, Prizma Industrial Coatings
Quick facts
- The funds have 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.
- SMEs represent 99.7% of Quebec businesses and contribute to 50% of the province's GDP.
- CED is a 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.
