East Angus business receives $75,000 in financial assistance from CED.
EAST ANGUS, QC, Jan. 17, 2025 /CNW/ - Canada Economic Development for Quebec Regions (CED)
Supporting manufacturing businesses contributes to economic development in Quebec's regions. That is why the Honourable Marie-Claude Bibeau, Member of Parliament for Compton—Stanstead, today announced, on behalf of the Honourable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for CED, a repayable contribution of $75,000 for Usinage Marcotte Inc. This CED support will enable the SME to improve its productivity and production capacity.
Founded in 1994, Usinage Marcotte designs and manufactures state-of-the-art diamond drills for use in mining. The business also has expertise in producing tailor-made structures for mines that meet the highest standards in the mining industry. It has two manufacturing plants, one in Val-d'Or in Abitibi and one in East Angus in the Estrie region. The support from CED will make it possible to acquire and install computer numerical control plasma and oxyfuel cutting equipment at its East Angus plant.
The Government of Canada recognizes and supports businesses and organizations that are a source of pride in their communities. Quebec's economic growth relies on such organizations with strong roots in the regional economy. They are major contributors to grow, as well as key assets in rebuilding a stronger, more resilient, greener and more just economy for all.
Quotes
"Today marks a new step for Usinage Marcotte, which will be able to improve its productivity and capacity to produce steel components for the forestry and mining sectors thanks to CED's support. The entire team can be proud of this expansion project. The manufacturing industry is a pillar of our economy, which is why our government is committed to investing so that our SMEs remain innovative and competitive."
The Honourable Marie-Claude Bibeau, Member of Parliament for Compton—Stanstead
"By helping our regional industries innovate and increase their productivity, we are not only enabling our businesses to become more competitive, but also stimulating economic growth. That is why I am delighted with our support for Usinage Marcotte's project. This SME's contribution to the Estrie region's economic vitality is undeniable, and this project will without a doubt generate concrete spin-offs not just for the region, but for all of Quebec."
The Honourable Soraya Martinez Ferrada, Member of Parliament for Hochelaga, Minister of Tourism and Minister responsible for CED
"The entire team at Usinage Marcotte is grateful for the Government of Canada's support and thanks CED for its collaboration to acquire computer numerical control plasma and oxyfuel cutting equipment for our East Angus plant. On top of helping to increase our production capacity, this new equipment featuring the latest technology will enable us to become more competitive and grow."
Ghislain Fournier, Vice-President Manufacturing, Usinage Marcotte
Quick facts
- Funding has been provided under CED's Regional 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.
- In Quebec, SMEs account for 99.7% of the province's businesses and 50% of its GDP.
- CED is the 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.
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SOURCE Canada Economic Development for Quebec Regions
Information: Media Relations, Canada Economic Development for Quebec Regions, [email protected]; Jean-Christophe Armstrong, Press Secretary, Office of the Minister of Tourism and Minister responsible for Canada Economic Development for Quebec Regions, Cell: 343-543-7313, Email: [email protected]
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