Initiative to Support Economic Development in Montréal’s East End 

Montréal’s East End has a long history of industrial activity and, for several years now, has been dealing with significant challenges hindering its development. However, this area has the assets and potential to become a leading economic and social development hub.

Recognizing this potential, the Government of Canada committed in Budget 2021 to support the economic transformation of Montréal’s East End and helped mobilize the community during the November 2023 Sommet de l’Est, while also announcing concrete action.

As such, CED will invest $30M in the coming years in projects by SMEs and NPOs that will have economic spin-offs in Montréal’s East End. The aim is to promote development opportunities that foster the region’s revitalization, attractiveness, and sustainable reindustrialization.

Targeted territory

The western border runs from north to south along Avenue Papineau, meaning from the rivière des Prairies (Back River) to the St. Lawrence River.

On an exceptional basis, projects implemented in an adjacent territory can be considered, if they contribute to the initiative’s objectives and the spin-offs are in the targeted territory.

Eligible clients

• Non-profit organizations (including NPOs that are part of the business climate or that provide services to businesses at different stages in their development)
• SMEs
• Business associations
• Cooperatives and social economy businesses
• Cégeps and universities
• Municipalities and municipal economic development agencies

SMEs with local reach will be eligible on an exceptional basis under this initiative. Through their primary vocation and their prospects into the foreseeable future, these SMEs serve mainly the surrounding markets at a local or regional level. Among these local SMEs, CED may, however, prioritize those that arise out of diversity or women’s entrepreneurship, those that work in promising industrial sectors, or those whose products can be exported or target export markets.

Types of projects targeted

Projects must have a positive impact on the revitalization of Montréal’s East End, through spin‑offs supporting community vitality from an economic, environmental, or social standpoint.

Projects fostering the revitalization and attractiveness of Montréal’s East End (projects that stimulate the socio-economic vitality and attractiveness of the territory, improve the living environment, or foster diversification and generate investments), including:

• The launch and growth of businesses working mainly locally or regionally, including those in the social economy.
• The development and improvement of assets (e.g., to offer tourism microdestinations) and the planning of economic diversification initiatives (e.g., summits and studies on opportunities).
• The establishment of collective equipment in the heart of industrial zones likely to contribute to economic development or community dynamism and to become factors that attract (e.g., carbon neutrality).

Projects supporting the reindustrialization of Montréal’s East End (projects that foster the establishment and growth of innovative businesses, mainly SMEs, including those with strong growth potential), including:

• Support for businesses making efforts to launch their operations; demonstrate, adopt, or adapt technologies and market them, including environmental technologies; increase their productivity; expand; enter supply chains in strategic sectors; and enhance their competitiveness in national and international markets.
• Support to structure a local ecosystem that meets the needs of these businesses, stimulates collaboration among economic players, and fosters an entrepreneurial environment conducive to innovation and growth (e.g., business-to-business initiatives such as the circular economy in the agri-food sector).

Financial assistance

For SMEs

• Financial assistance that can generally cover up to 50% of authorized costs;
• This amount is repayable, without interest. Repayments generally begin two years after a project ends.

For NPOs

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

Certain exceptions may apply, including for projects led by Indigenous organizations and certain capital projects. We invite you to contact us regarding any questions you may have.

Eligible costs

All costs directly related to the project, deemed reasonable by CED, and essential to ensure project implementation. In certain cases, restrictions may apply.

Ineligible costs

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

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

Questions?

• Contact us for further information.