Bromont, Quebec, August 11, 2021 - Canada Economic Development for Quebec Regions (CED)
The Montérégie region counts several dynamic businesses and organizations with innovative ideas helping to create a strong local economic fabric. Some organizations succeeded in adapting to the pandemic and are prospering, while others have had to scale back 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, Élisabeth Brière, Member of Parliament for Sherbrooke and Parliamentary Secretary to the Minister of Economic Development and Official Languages (Economic Development Agency of Canada for the Regions of Quebec), accompanied by Lyne Bessette, Member of Parliament for Brome-Missisquoi, today announced $892,500 in financial support for Zeal Motor.
Zeal Motor is developing a unique line of industrial off-road vehicles that meet the requirements of energy providers and mining companies‒both here and abroad. This repayable contribution will enable it to complete the final stages of development for its new off-road vehicle and to market it in Canada and the U.S. This project will help the company re-hire six employees and create two new positions.
The Government of Canada recognizes and supports innovative businesses and organizations that are a source of pride in their communities. Quebec's economic recovery relies, among other things, on companies that are well grounded in the regional economy. Innovation is a major contributor to growth, in addition to being a key asset in rebuilding a stronger, more resilient and more just economy for all.
Quotes
"We are helping businesses equip themselves with what they need to remain competitive, prosper and create good jobs. Thanks to Government of Canada financial assistance, Zeal Motor will be able to continue to innovate in a cutting-edge field and strengthen its position in the industry and on the markets, which will also help stimulate the regional economy. This support will thus benefit the entire region and enable the Canadian economy to come back even stronger."
Élisabeth Brière, Member of Parliament for Sherbrooke and Parliamentary Secretary to the Minister of Economic Development and Official Languages (Economic Development Agency of Canada for the Regions of Quebec)
"By investing in improvements to Zeal Motor's processes, the Government of Canada is following through on its commitments and is helping businesses to grow, innovate and export products so they can create quality jobs and ensure a prosperous Canadian economy.
Lyne Bessette, Member of Parliament for Brome-Missisquoi
"Helping businesses grow and innovate so they can be more competitive and create good-quality jobs is our key priority. That is why we are providing our support to Zeal Motor, a company whose success is raising the profile not just of the Montérégie region but of the entire Canadian economy. Our economic recovery plan includes being there to support workers and Quebec and Canadian SMEs in these difficult times. By helping them equip themselves with what they need, together, we can rebuild a stronger, more resilient and more sustainable economy."
The Honourable Mélanie Joly, Member of Parliament for Ahuntsic-Cartierville, Minister of Economic Development and Official Languages and Minister responsible for CED
"The pandemic has created a great deal of volatility for clients as well as suppliers, which has forced us to manage our working capital more prudently. However, thanks to this financial support from the Government of Canada, we have been able to continue developing our Fat Truck line of vehicles as well as expand our distribution network abroad. We are now well positioned for the economic recovery.
Amine Khimjee, Vice-President, Sales - Zeal Motor
Quick facts
- 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.
