The Lachute-based business obtains $3 million in funding from CED.
LACHUTE, QC, July 5, 2022 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
Supporting the expansion of SMEs through the acquisition of advanced or digital technologies contributes to economic development in Quebec's regions. That is why Stéphane Lauzon, Member of Parliament for Argenteuil–La Petite-Nation and Parliamentary Secretary to the Minister of Rural Economic Development, on behalf of the Honourable Pascale St-Onge, Minister of Sport and Minister responsible for CED, today announced a repayable contribution of $3 million for Lacus Innovations. This CED funding will allow the business to support the start-up of its plant and acquire and install automated manufacturing equipment.
Founded in 2021, Lacus Innovations is a start-up that specializes in the manufacture of spas and plastic parts for swimming pools and spas. The company is owned by Trévi Investments Inc., and the majority of its production will be sold to the Trévi group. The project will create approximately 150 jobs over the next two years.
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 on a manufacturing sector with organizations that have strong roots in the regional economy. The players in this industry are major contributors to growth, as well as key assets in rebuilding a stronger, more resilient, greener and more just economy for all.
"Today's announcement is proof once again of the Government of Canada's commitment to Lachute's manufacturing businesses, in line with our economic recovery plan. By assisting these businesses in the pursuit of their operations and by fostering their growth, the government is helping to ensure that Quebec's manufacturing industry plays a major role in Canada's economic recovery."
Stéphane Lauzon, Member of Parliament for Argenteuil–La Petite-Nation and Parliamentary Secretary to the Minister of Rural Economic Development
"Besides providing good jobs, the manufacturing industry is a significant contributor to economic growth in Quebec. It is an essential link in the regions' development and is part of our economic recovery plan. With the help of our government's funding, Lacus Innovations will be able to purchase the automated equipment it needs to start up its production line. Its project not only contributes to the economic vitality of Lachute and the Laurentides region, it will also allow the entire country to benefit from its success and spinoffs."
The Honourable Pascale St-Onge, Member of Parliament for Brome–Missisquoi, Minister of Sport and Minister responsible for CED
"On my behalf and that of the executive committee of Lacus Innovations, I would like to sincerely thank the Government of Canada for this financial assistance. The funding will greatly assist us in setting up our facility for spa manufacturing and the injection of parts for swimming pools and spas, notably by enabling us to acquire equipment that uses new, cutting-edge automation technologies for manufacturing and the recovery of raw materials. With the help of this assistance, we are proud to be able to contribute to the creation of manufacturing jobs."
Benoît Hudon, President, Lacus Innovations
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.
Quebec SMEs account for 99.7% of Quebec businesses and 50% of the province's GDP.
CED is the key federal partner for regional economic development. Through its 12 regional business offices, CED helps businesses, support organizations and the regions of Quebec prepare for the economy of tomorrow.
SOURCE Canada Economic Development for Quebec Regions
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