Government Grants Fund Canadian Businesses

March 10, 2010, Quebec – A government grant awarding $500,000 in non-repayable government grant funds goes to the Société de développement économique de Drummondville (CLD Drummond) Inc., the Minister of State for Canada Economic Development announced today. The government grant money will go to the construction of an industrial incubator, which will serve technology start-ups.

Canadian government grants proudly support Canadian economy by providing non-repayable funding in the form of free government grants to companies and individuals alike. Billions of dollar each year go to stimulate the Canadian economy by providing financial assistance to individuals and companies.
“Thanks to the special measures provided for under Canada’s Economic Action Plan, our national economy is on the road to recovery. Implementing the second phase of this Plan, which includes the allocation of $19 billion in new spending, will help lay the foundations for solid long-term economic growth and job creation,” concluded the Minister of State.

The financial assistance will make it possible for the organization to offer tenants state-of-the-art facilities, quality management guidance, as well as administrative support. The government grant funding is expected to help create 15 temporary jobs during the construction phase; enable 20 new companies to cultivate; and create some 100 jobs in the area.

“The establishment of a second incubator for technology start-ups will help support the development and renewal of the region’s manufacturing base. I am delighted that, on top of creating 15 temporary jobs during the construction phase, this project will enable 20 new companies to see the light of day over the next five years and lead to the creation of some 100 jobs in the area,” explained the Minister of State.

For more on Canada’s Economic Action Plan, visit www.actionplan.gc.ca.

Recipients