Hotel establishment owned by a Cree investment company receives $2,565,147 in financial support from CED.
Encouraging Quebec's Indigenous communities to develop their entrepreneurial potential contributes to inclusive growth in regional economies and paves the way towards prosperity.
That is why the Honourable Mandy Gull-Masty, Member of Parliament for Abitibi-Baie-James-Nunavik-Eeyou and Minister of Indigenous Services, today announced, on behalf of the Honourable Mélanie Joly, Minister of Industry and Minister responsible for CED, a repayable contribution of $2,565,147 for Quality Inn & Suites Val-d'Or. This CED support will enable it to enhance the range of hotel accommodations on offer in the region by renovating existing rooms and expanding the building.
Founded in 2011, Quality Inn & Suites Val-d'Or is the result of a partnership between businessman Fernand Trahan and the Cree Regional Economic Enterprises Company (CREECO), an investment company created in 1982 by the Cree Nation Government. The company has owned and fully managed the establishment since December 2020. With its 82 rooms and suites, the hotel has become a reference for accommodations in the Abitibi-Témiscamingue region, within both the region and the Choice Hotels chain. To meet the growing demand for hotel accommodations, the business will, thanks to CED's funding, add 42 accommodation units to its offering and proceed with renovating current rooms.
The Government of Canada recognizes and supports innovative businesses and organizations that are a source of pride in their communities. In particular, it works in close collaboration with various groups in the population so that they can benefit from equal opportunities and participate fully in the country's economic prosperity. The Government of Canada is committed to fostering sustainable, inclusive growth for all.
Quotes
"Strong partnerships and the full participation of Indigenous communities are key to build sustainable economic prosperity. Indigenous entrepreneurship is a powerful economic engine, and this investment in Quality Inn & Suites Val-d'Or will strengthen the accommodation and tourism sector in the region-a key driver of local growth-while also generating significant and lasting economic spin‑offs for the entire community."
The Honourable Mélanie Joly, Member of Parliament for Ahuntsic-Cartierville, Minister of Industry and Minister responsible for CED
"Rethinking how we support economic development so that it can become more inclusive and sustainable is essential for the growth of Quebec businesses. The Indigenous perspective constitutes an important source of inspiration to find new pathways towards prosperity for all. Fostering Indigenous entrepreneurship, such as with Quality Inn & Suites Val-d'Or, is a priority for our government. By creating good jobs and by contributing to the diversification of the regional economy, First Nations entrepreneurs are showcasing their know-how right across the country and beyond Canada's borders."
The Honourable Mandy Gull-Masty, Member of Parliament for Abitibi-Baie-James-Nunavik-Eeyou and Minister of Indigenous Services
"We are proud to make this major investment for the Val-d'Or community. Adding new units will make it possible to provide travellers with suites equipped with full kitchens and high-quality facilities. Canada Economic Development for Quebec Regions' contribution to this project enables us to become more competitive."
Derrick Neeposh, President, Quality Inn & Suites Val-d'Or
Quick facts
- Funding has been granted under CED's Quebec Economic Development Program. The aim of this program is to help communities seize economic development and diversification opportunities that are promising for the future.
- CED is a key federal partner in Quebec's regional economic development. With its 12 business offices, CED accompanies businesses, supporting organizations and all regions across Quebec into tomorrow's economy.
