Canada Economic Development for Quebec Regions (CED)
Supporting innovation and promoting the growth, productivity and competitiveness of businesses contributes to the economic development of the regions of Quebec. That is why the Honourable Pablo Rodriguez, Minister of Transport and Quebec Lieutenant, today announced, on behalf of the Honourable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for CED, a $1,000,000 refundable contribution for Rustica Foods Inc. This CED support will allow the Montréal SME to acquire digital production equipment to help boost its productivity and competitiveness.
Rustica Foods is a fast-growing commercial bakery that specializes in ready-to-eat pizzas, frozen pizzas and pre-baked pizza crusts. With the help of CED's funding, the business, which operates primarily in the wholesale, food services and private-label co-production sectors, will be able to build on its success and create jobs in the east end of Montréal.
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 organizations with strong roots in the regional economy; they are key assets for building a sustainable and inclusive economy.
Quotes
"By investing to help Quebec businesses become more productive and competitive, we are stimulating our economy and building prosperity here at home. With the help of the Government of Canada, Montreal-based Rustica Foods Inc. will be able to continue to grow and create jobs for people in the East of Montréal. We continue to deliver for Quebecers by taking concrete action that makes a real difference."
The Honourable Pablo Rodriguez, Member of Parliament for Honoré-Mercier, Minister of Transport and Quebec Lieutenant
"Helping businesses grow and innovate so they can improve their competitiveness and create jobs is our key priority. That is why we are supporting Rustica Foods, an SME whose success reflects, not only on the Montréal region, but on the Canadian economy as a whole. By supporting Quebec and Canadian businesses equip themselves properly, we are building a stronger and more resilient and sustainable economy."
The Honourable Soraya Martinez Ferrada, Member of Parliament for Hochelaga, Minister of Tourism and Minister responsible for CED
"We are delighted and very grateful for this significant funding from CED. This contribution will allow us to improve our production process, pursue our innovation and continue providing our customers with the highest quality products. CED's support is a validation of our vision and our commitment to excellence."
Richard Morgante, CEO, Rustica Foods Inc.
Quick facts
- The 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.
- 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. Through its 12 regional business offices, CED helps businesses, the organizations that support them, and all regions of Quebec, prepare for the economy of tomorrow.
