Canada Economic Development for Quebec Regions (CED)
Supporting business innovation and growth contributes to economic development in Quebec's regions. That is why the Honourable Pascale St-Onge, Minister of Sport and Minister responsible for CED, today announced a repayable contribution of $200,000 for Lignum Veneer. This CED support will enable the business to make the Industry 4.0 shift by improving its innovative processes and productivity.
Lignum Veneer has made a name for itself in the seaming of veneer sheets made with various types of wood. Through CED's financial support, the business will be able to acquire and install specialized production equipment in its plant, which is currently operating at full capacity. Digital technology will make it possible to improve the constancy and quality of this innovative SME's products, while also maximizing value-added tasks.
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
"SMEs are at the core of innovation and economic development in our communities, and it is a priority in our government's economic recovery plan to support their growth and innovation projects. With our government's financial assistance, Lignum Veneer will be able to improve its production line and meet the growing demand for its products. Its contribution to the economic vitality of Victoriaville and the Centre-du-Québec region is significant, and our entire economy will benefit from the success and spinoffs of its project."
The Honourable Pascale St-Onge, Member of Parliament for Brome-Missisquoi, Minister of Sport and Minister responsible for CED
"In the 20 years it has been in existence, Lignum Veneer has become a leader in the North American veneer industry through a visionary attitude and a desire to surpass ourselves, greatly motivated by the support and confidence of our dear employees and partners such as CED."
Louis-Hans Baril, President, Lignum Veneer
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.
