Magog, Quebec, June 29, 2021 – Canada Economic Development for Quebec Regions (CED)
The Estrie 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 reduce 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, the Member of Parliament for Brome-Missisquoi, Lyne Bessette, on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for CED, today announced $600,000 in financial support for Armorteck Inc. This business specializes in manufacturing high-end closed trailers with composite panels and aluminum chassis for the U.S. market. This repayable contribution will enable it to acquire production and handling equipment, along with computer equipment, and to implement its marketing plan in the U.S.
The Government of Canada is taking concrete action to stimulate growth and rebuild a stronger, more resilient, and more just economy for all. It is making strategic investments and giving support to innovative start-ups that will be a source of pride in their communities and help rebuild the Quebec and Canadian economies.
“The Government of Canada has a mission to accompany our regions’ businesses into tomorrow’s economy and help them seize business opportunities. That is why I am proud to announce financial support for Magog-based Armorteck. By backing this new project, we are ensuring an inclusive, sustainable recovery and the creation of good jobs in the Cantons-de-l’Est region.”
Lyne Bessette, Member of Parliament for Brome-Missisquoi
“The Government of Canada has a priority to ensure communities prosper. That is why we support small and medium-sized enterprises in their start-up projects. Our SMEs are the engine of our communities and the backbone of our economy, creating and maintaining good local job and guaranteeing regional vitality. It is our duty to accompany them so that our economy can come back even stronger.”
The Honourable Mélanie Joly, Member of Parliament for Ahuntsic-Cartierville, Minister of Economic Development and Official Languages and Minister responsible for CED
- 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.