The manufacturing industry will play a major role in the economic recovery. It is an important sector of activity to help maintain and stimulate the economy. However, for several years now, manufacturing businesses have had to demonstrate adaptability and creativity to transform how they operate.
Today, they must also be resilient to overcome the challenges caused by COVID-19. The investments required in monetary, material and human resources to begin the technology shift are often considerable. Whether it be to establish an intelligent factory, to automate or to robotize, the Government of Canada is signalling its presence in supporting businesses in their modernization projects to create quality jobs for Canadians.
Boosting manufacturing SMEs in their modernization efforts
With this in mind, Joël Lightbound, Member of Parliament for Louis-Hébert and Parliamentary Secretary to the Minister of Public Safety and Emergency Preparedness, on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages, today announced financial support for M2S Electronics Ltd., Usitech Precision Inc. and SiliCycle Inc.
Details on the assistance provided under the Regional Economic Growth through Innovation program are as follows:
- M2S Electronics, $500,000. CED's assistance will enable the business to acquire a new automatic assembly line including equipment such as an insertion machine and a visual inspection device. This project, aimed at enabling the business to grow by manufacturing innovative solutions, will lead to the creation of one job.
- Usitech Precision, $250,000. CED's assistance will enable the business to acquire and install specialized CNC-type digital-control equipment. This project, aimed at enhancing business productivity, will lead to the creation of three jobs.
- SiliCycle, $42,500. CED's assistance will enable the business to cover the costs of installing and starting a third reservoir dedicated to producing hand sanitizer. This project, aimed at increasing the business's production capacity, will lead to the creation of four jobs.
The manufacturing industry is a major contributor to Quebec's economic growth, providing many jobs. It represents a key link in regional economic development. With this support, the Government of Canada is attesting to its commitment to prepare the way for after the pandemic to rebuild a stronger, more resilient and more just economy for all.
Quotes
"Today's announcement is proof once again of the Government of Canada's commitment to Québec's manufacturing businesses. By helping them pursue their activities and by stimulating their growth, the government is working to ensure Quebec's manufacturing industry plays a major role in Canada's economic recovery."
Joël Lightbound, Member of Parliament for Louis-Hébert and Parliamentary Secretary to the Minister of Public Safety and Emergency Preparedness
"We are continuing to work with innovative manufacturers to give them the tools they need to develop innovative technologies and processes, to the benefit of Quebec's workers and regions. Thanks to the Government of Canada's support, they can leverage innovation, a veritable economic engine and pillar of growth, to stimulate the local economy and create good jobs in their region. As such, our manufacturing businesses are in a better position to prepare for the post-COVID-19 recovery."
The Honourable Mélanie Joly, Member of Parliament for Ahuntsic-Cartierville, Minister of Economic Development and Official Languages and Minister responsible for CED
Quick facts
-
In Quebec, the manufacturing sector includes 13,700 businesses that employ 447,750 workers, with sales totalling C$169 billion per year. It generates 14% of Quebec's gross domestic product and 82% of its exports.
-
The Honourable Mélanie Joly, Minister of Economic Development and Official Languages, is also the minister responsible for the six regional development agencies (RDAs), including CED.
-
CED is a 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.
