Diversify your economy

Funding description

This funding aims to promote the regions and foster the development of local economies.
Specifically, it is intended to:

• help boost spending by tourists from outside Quebec 
• increase the presence of international organizations
• strengthen economic activity in the regions by supporting local business projects
• generate investments and economic spin-offs through the acquisition of community economic facilities

This funding is provided under the QEDP.

Examples of funded projects

• Development of the tourism industry
  • Implementation of a commercialization strategy:
    • development of promotional tools; participation in events; etc.
  • Development and enhancement of tourist attractions, festivals, sporting events and cultural productions
• Support for communities experiencing slow economic growth or an economic shock
  • Specifications, studies, diagnoses or action plans in response to economic issues raised by the community
  • Acquisition of community facilities or implementation of infrastructure to promote local economic development
• Support for local entrepreneurship
  • Acquisition of production equipment
  • Hiring of experts or professionals
  • Marketing of products and services
  • Enhancement of the capacity to innovate and develop new products or processes 

Other activities may also be eligible. Contact us by telephone at 1-800-561-0633 or by email to discuss your project.

Financial assistance

For SMEs

• Financial assistance generally of up to 50% of authorized costs. 
• This funding is repayable, without interest. Repayment begins two years after the end of the project.

For NPOs

• Non-repayable financial assistance generally of up to 90% of authorized costs.

 

Eligible costs

All costs directly related to the project that are deemed reasonable by CED and essential to the implementation of the project. Restrictions may apply in certain cases.

Ineligible costs

All non-essential costs not directly related to the project, as well as: 

• the refinancing of an existing debt
• the purchase of an asset at a price that exceeds its fair market value
• amortization expenses
• goodwill costs

Eligibility

Examples of eligible clients

• Non-profit organizations (NPOs)
• Economic development organizations
• Municipalities and regional county municipalities (RCMs)
• Organizations tasked with attracting international organizations and foreign investment
• Local businesses
• Co-ops
• Business associations
• Indigenous organizations

 * Are you an SME or NPO in an economically vulnerable RCM or in Montréal’s East End? Your project may be eligible for flexible program conditions.

Examples of ineligible clients

• Retail businesses (e.g., clothing stores, grocery stores or automobile sales and maintenance outlets)
• Food services (e.g., restaurants and cafés)
• Transportation services
• Housing construction
• Daycare services
• Hair and beauty salons
• Nightclubs, bars and cabarets

Are you ineligible? Check out our network of partners who may be able to help you.
 

Analysis criteria

In general, projects are analyzed against specific criteria, namely:

• the expected results of your project
• the viability of your business or organization
• your technical and financial management capacity
• the contribution of partners in terms of financial resources or professional services
• the degree of risk

In the case of projects involving community economic facilities, the project must also:

• benefit a number of users (primarily businesses)
• be a priority for the region
• fit in with the region’s development approach
• be carried out in one of the RCMs targeted by CED because it is experiencing slow economic growth