SADC and CAE receive $86M for the regions of Quebec

PRESS RELEASE

For immediate release

SADC and CAE receive $86M for the regions of Quebec

SADC

 

Luskville, Pontiac, July 19, 2016 – The Réseau des SADC et CAE is very pleased with the announcement made today by Mr. Greg Fergus, Parliamentary Secretary to the Minister of Innovation, Science and Economic Development, Mr. Navdeep Bains, who is also the Minister responsible for the Canada Economic Development for the Regions of Quebec (CED), of the signing of a new three-year agreement between SADC (Community Futures Development Corporations) and CAE (Community Business Development Corporations) of Quebec.

More than $86M will be injected into the regions of Quebec via the 67 member corporations of the Réseau des SADC et CAE. According to Mr. Daniel Dumas, President of the Réseau des SADC et CAE, “this is excellent news that will allow our members to continue their fieldwork with entrepreneurs and municipalities. For 37 years, our role has been evolving and our expertise has been further developing in order to respond in an efficient and relevant way to the socio-economic challenges we face. We believe that the excellent achievements of the 400 professionals and 1,350 volunteers who work with the SADC and CAE on the economic development of their communities have been recognized, and that these accomplishments have greatly influenced the Government of Canada in the making of this decision.”

This announcement also confirms Canada Economic Development’s contributions to the special initiatives that will allow SADC to support local development projects and youth internships. The SADC and CAE will also prioritize interventions with entrepreneurs in the areas of innovation, business transfer, sustainable development and information technology, areas in which they have developed a solid expertise over the years.

In addition, the age limit for participating in the Youth Strategy initiative will be raised from 35 to 39 inclusive. This initiative allows young entrepreneurs, or those who would like to become entrepreneurs, to access financing and support that is adapted to their needs.

Finally, these agreements will be an opportunity to strengthen and maintain this productive partnership with the Government of Canada, for the benefit of all citizens of the regions of Quebec.

 

Some of the results of our work

  • $8.25M has been invested in local development projects.
  • 10,000 entrepreneurs receive help from a SADC or CAE each year.
  • $60M, on average, has been invested in businesses in the regions each year.
  • 8,614 young entrepreneurs have been supported and financed by the SADC and CAE since 1997, which is a total investment of $107.5M.
  • According to a recent study by Statistics Canada, businesses supported by SADC and CAE have a survival rate that is 26% higher than the control group (76% after five years of existence, compared to 50%).

 

 

About the Réseau des SADC et CAE

The Réseau des SADC et CAE (www.sadc-cae.ca) brings together 57 SADCs and 10 CAEs which have worked to develop their communities for the past 35 years. The Réseau’s 400 professionals and 1,350 volunteers initiate and support formative projects in their communities and support entrepreneurs in their projects. Every year, over 10,000 entrepreneurs in Quebec receive guidance and financing from SADCs and CAEs. Moreover, $2 million is invested by Quebec’s SADCs in over 1,000 collective projects every year.

Community Futures Program (CFP)

The CFP is a federal government program that ensures operations financing for the 269 SADCs and CAEs in Canada, 67 of which are in Quebec. The CFP recognizes the expertise of local decision makers and decision-making autonomy, in order to encourage communities to take charge of their futures.

-30-

For information:

Christine Pilote
Director, Communications
Phone. : 418 658-1530
Cpilote@ciril.qc.ca

Hélène Deslauriers
Executive Director
Phone. : 418 658-1530
hdeslauriers@ciril.qc.ca

 

Show Buttons
Share On Facebook
Share On Twitter
Share On Google Plus
Contact us
Hide Buttons