OREANDA-NEWS. August 18, 2016. The Government of Canada is committed to investing in job creation in order to stimulate economic growth and increase prosperity for Canadians. It is aware that communities must diversify strategically by focusing on innovation in order to develop lasting regional competitive advantages. As such, support for communities’ transition and diversification is a priority for the Government of Canada.

David Graham, MP for Laurentides-Labelle, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development (ISED) and Minister responsible for CED, confirmed the signing of a three-year agreement with SADC des Laurentides. Tied to the agreement is a financial commitment of \\$1,246,086 that the agency will use to support economic development in the community.

Today’s announcement arises from the signing of three-year agreements totalling more than \\$86 million among the Government of Canada and the CFDCs, BDCs, the CFDC/BDC Network and Capital R?seau of Quebec. That financial assistance, announced July 19, 2016 by Greg Fergus, Parliamentary Secretary to the Minister of ISED and Minister responsible for CED, will benefit 57 CFDCs, 10 BDCs, the CFDC/BDC Network and Capital R?seau SADC et CAE.

The agreements provide the CFDCs and BDCs with the flexibility and means they need for fulfilling their mission. By supporting the growth of SMEs and fostering the development of local economies, CFDCs and BDCs help create well-paid jobs for the middle class and those who work hard to improve their standard of living.

In Quebec, roughly 10,000 businesses every year benefit from the services of these two agencies, which means an average annual investment of \\$70 million in Quebec communities. The CFDCs also get involved in over 1,250 economic development projects every year.

The funding comes from the Community Futures Program (CFP) that, in Quebec, is operated by CED.


“The renewal of the agreement between CED and SADC des Laurentides is excellent news for the region. For the next three years, the agency will be able to carry out its mission and contribute to economic growth and job creation within the community.”

David Graham, MP for Laurentides-Labelle

“I am very pleased with the renewal of the agreements between the Government of Canada and the CFDCs and the BDCs. The financial stability provided by those agreements enables these agencies to focus on achieving priority objectives. And that results in diversified, competitive local economies that benefit the entire country.”

The Honourable Navdeep Bains, Minister responsible for CED

CED is one of the six regional development agencies under the control of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.