Targeted support for Quebec’s economically vulnerable RCMs

CED supports economic development in all Quebec regions by paying particular attention to those grappling with economic difficulties.

That’s why CED has launched a new initiative to offer flexible conditions and targeted support to Quebec’s RCMs with the greatest economic vulnerability.

RCMs targeted by administrative region

Eight economically vulnerable RCMs have been identified by CED through its economic development index (EDI), based on the economic advantages available to them and their ability to exploit them.

Côte-Nord :

• MRC du Golfe-du-Saint-Laurent

Gaspésie‒Îles-de-la-Madeleine:

• MRC Avignon
• MRC de La Haute-Gaspésie
• MRC du Rocher-Percé

Mauricie:

• MRC La Tuque

Nord-du-Québec:

• Administration régionale Kativik

Outaouais:

• MRC de Pontiac
• MRC de La Vallée-de-la-Gatineau

Note : The specific program flexibilities offered by CED to these eight economically vulnerable RCMs are in addition to those already offered to Quebec’s 75 RCMs with low growth potential.

Eligible clients

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

Types of projects targeted

Projects must generate concrete economic spin-offs that will have a positive effect on the revitalization of these RCMs.

Examples of projects fostering the revitalization and attractiveness of these RCMs:

• Launch and growth of businesses working mainly at the local or regional level.
• Development and improvement of assets (tourism offering and other fixed assets related to local economic development) and planning of economic diversification initiatives.
• Establishment of collective equipment in the heart of industrial zones that may contribute to economic development or community dynamism and become factors that attract.

Examples of projects supporting the reindustrialization of these RCMs:

• 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.

Examples of eligible activities

Based on the more flexible program conditions offered to the eight targeted RCMs, eligible activities may include:

• In the area of tourism: Accommodation projects in all categories of establishments, as well as improvements to tourism attractions.
• In the area of agri-food, fisheries, forestry, and mining: Projects related to primary processing, even if they are not innovative.
• In the area of community vitality: Projects related to services or retail businesses deemed essential, as they create employment by enabling the retention (including in remote and isolated regions) or strengthening of the entrepreneurial base.

Financial assistance

For SMEs

• Financial assistance of up to 75% of authorized costs.
• This amount is generally repayable, without interest and without guarantee. Repayments begin two years after a project ends.
• On an exceptional basis, non-repayable assistance below $100K may be considered, if certain conditions are met.

For NPOs

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

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.