The Greater Montréal region counts several dynamic businesses and organizations with innovative ideas helping to create a strong local economic fabric. Some organizations have succeeded in adapting to the pandemic and are prospering, while others have had to scale back their operations. Today, as we plan for the economic recovery, they need support now more than ever to ensure their communities remain robust. The Government of Canada has committed to assisting them as they pursue their activities and to fostering their growth and success.
With this in mind, Francis Scarpaleggia, Member of Parliament for Lac-Saint-Louis and Caucus Chair, today announced $2,178,533 in financial support to FPInnovations, on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for CED. This non-profit organization specializes in innovation and technology transfers in the forestry sector, with more than 330 employees across Canada. Its mission is to make the forestry sector more competitive as well as ensure its transformation and diversification to include new markets.
This non-repayable contribution will allow FPInnovations to acquire state-of-the-art equipment for construction materials and bioproducts. This equipment will allow it to step up its research and development and technology transfer activities with Quebec SMEs operating in the forestry sector.
The Government of Canada recognizes and supports innovative businesses and organizations that are a source of pride in their communities. Quebec's economic recovery relies, among other things, on organizations that are well grounded in the regional economy. Innovation is a major contributor to growth, in addition to being a key asset in rebuilding a stronger, more resilient and more just economy for all.
Quotes
"We are helping businesses equip themselves with what they need to remain competitive, prosper and create good jobs. Thanks to Government of Canada financial assistance, FPInnovations will be able to pursue its mission to help forestry companies to innovate, which will also help stimulate the regional economy. This support, which is part of our economic recovery plan, will thus benefit the entire forestry sector and enable the Canadian economy to come back even stronger."
Francis Scarpaleggia, Member of Parliament for Lac-Saint-Louis and Caucus Chair
"Helping businesses grow and innovate so they can be more competitive and create good-quality jobs is one of our core priorities. That is why we are providing our support to FPInnovations, an organization whose success is raising the profile not just of the Montreal region but of the entire Canadian economy. We are here to support workers and Quebec and Canadian SMEs during these difficult times. We are helping them equip themselves with what they need so that, together, we can rebuild a stronger, more resilient and more sustainable economy
The Honourable Mélanie Joly, Member of Parliament for Ahuntsic-Cartierville, Minister of Economic Development and Official Languages and Minister responsible for CED
"We are delighted to receive this financial support, which will allow FPInnovations to acquire new equipment that is invaluable to SMEs operating in the forestry sector, allowing them to innovate and set themselves apart in increasingly competitive markets. These investments will help promote forests as a strategic source of growth for the bioeconomy and the transition to a greener economy that is needed in our fight against climate change."
Stéphane Renou, President and CEO, FPInnovations
Quick facts
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The funds were provided under CED's Regional Economic Growth through Innovation program. This program is geared towards entrepreneurs leveraging innovation to grow their businesses and make them more competitive, as well as regional economic stakeholders helping to create an entrepreneurial environment conducive to innovation and growth for all, across all regions.
