The Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions (CED), the Honourable Mélanie Joly, Member for Richelieu and Parliamentary Assistant to the Minister Responsible for Maritime Strategy Jean-Bernard Émond, on behalf of Minister for Regional Economic Development and Minister Responsible for the Saguenay-Lac-Saint-Jean Region Eric Girard, and Investissement Québec are announcing funding for Atelier d'usinage Côté & Audet to boost its growth.
The business, an important player in the pulp and paper, hydroelectricity and steel sectors, will be able to undertake expansion work and acquire new equipment key to modernizing its facilities. These investments will enable it to not only improve operational efficiency but also increase its production capacity and consolidate its competitiveness in strategic markets in the Quebec economy.
This project, valued at $4 million, is benefitting from considerable financial support, attesting to the governments' commitment to stimulating regional economic development and strengthening productivity among homegrown businesses. The Government of Quebec is providing a loan of $1.05 million, while the Government of Canada is contributing to this initiative with $1 million in repayable funding. This combined assistance will make it possible to accelerate the implementation of a structural project for the local economy and Quebec's industrial vitality.
Quotes
"SMEs are at the heart of innovation and economic growth in our communities, and supporting their development is a priority for our government. Thanks to our funding, Atelier d'usinage Côté & Audet will be able to improve its productivity by acquiring and installing production equipment. Its contribution to regional economic vitality is considerable, and our entire economy will benefit from the success and spin-offs of its project."
The Honourable Mélanie Joly, Minister of Industry and Minister responsible for CED
"For over three decades, Atelier d'usinage Côté & Audet has been offering products to its clients that are high in quality and increasingly in demand. To maintain its momentum and remain competitive, the business requires a space that is better adapted to its needs and technologies that are at the cutting edge in the industry. This is what our government is committed to offering with this financial support."
Jean-Bernard Émond, Member for Richelieu and Parliamentary Assistant to the Minister Responsible for Maritime Strategy
"The more SMEs prosper, the more they contribute to local economic development. In the Montérégie region, Atelier d'usinage Côté & Audet has proven itself through rigorous management and unparalleled teamwork. Today, the business is once again illustrating its vision for the future, which it is turning to good account for its own growth and for the region's dynamism."
Eric Girard, Minister for Regional Economic Development and Minister Responsible for the Saguenay-Lac-Saint-Jean Region
"We are determined to face the growing demand for high-quality components manufactured right here in Quebec, and we are proud to contribute to our clients' and suppliers' success and to help create jobs in our region."
Rénald Boucher, President, Atelier d'usinage Côté & Audet
Quick facts
- Founded in 1989 in Sorel-Tracy, Atelier d'usinage Côté & Audet specializes in large‑scale machining and welding projects for the Canadian and U.S. markets.
- The Government of Quebec's funding comes from Volet 2 - Appui aux projets d'investissement favorisant la productivité et l'expansion des entreprises (Chantier productivité) [support for investment projects fostering business productivity and expansion - productivity component] under the ESSOR program [link in French only].
- The federal government's funding is being provided under CED's Regional Economic Growth through Innovation program. This program targets entrepreneurs leveraging innovation to grow their businesses and become more competitive, as well as regional economic stakeholders helping to create an entrepreneurial environment conducive to innovation and growth for all, across all regions.
- CED is the key federal player in Quebec for the promotion of economic development in the regions and among SMEs. Through its 12 regional business offices, CED accompanies businesses, organizations and all regions across Quebec as they transition into the economy of tomorrow.
