Canada Economic Development for Quebec Regions (CED)
Supporting growth through business digitization contributes to economic development in Quebec's regions. That is why Élisabeth Brière, Member of Parliament for Sherbrooke and Parliamentary Secretary to the Minister of Mental Health and Addictions and Associate Minister of Health, today announced, on behalf of the Honourable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for CED, a repayable contribution of $400,000 for SoyXpert Inc. This CED support has enabled the business to increase its productivity by automating its operations.
Specializing in the manufacture of high-quality firm tofu that is certified organic, SoyXpert found itself at a turning point in its development. By acquiring new digital equipment, including a highly automated production line, the business has been able to increase its production to better meet the demand in Quebec and to develop the market for its flagship product, Soykei, elsewhere in Canada and in the U.S. This equipment has now been installed in the business's new production plant, on Rue Burlington in Sherbrooke.
The Government of Canada recognizes and supports businesses and organizations that are a source of pride in their communities. Quebec's economic growth relies, among other things, on an agri-food sector with organizations rooted in the regional economy. The players in this industry are key assets in building a stronger, more resilient, greener, and more just economy for all.
Quotes
"This is excellent news for SoyXpert and for Sherbrooke! Their entrepreneurs' perseverance and determination to continue their operations, while also pursuing their ambitious objectives, are seen through their success. I am delighted CED is supporting this thriving business as it continues to grow by automating its production."
Élisabeth Brière, Member of Parliament for Sherbrooke and Parliamentary Secretary to the Minister of Mental Health and Addictions and Associate Minister of Health
"Helping businesses grow so they can become more competitive is a core priority for us. That is why the Government of Canada is providing its support to SoyXpert, whose success is raising the profile not only of the Sherbrooke region, but also of Canada's entire economy. By assisting Quebec's businesses so they can equip themselves well, we are contributing to a stronger, more resilient, more sustainable economy."
The Honourable Soraya Martinez Ferrada, Member of Parliament for Hochelaga, Minister of Tourism and Minister responsible for CED
"CED's support has enabled us to better meet the demand in our markets and expand. By increasing our production capacity, we have been able to supply many more distributors, who are fond of our high‑quality product. My entire team and I are grateful for this financial assistance from CED, which has been used to acquire the equipment needed to meet this objective!"
Dany Deshaies, Chief Executive Officer, SoyXpert
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. With its 12 regional business offices, CED accompanies businesses, supporting organizations and all regions across Quebec into tomorrow's economy.
