Supporting manufacturing businesses contributes to economic development in Quebec’s regions. That is why the Honourable M\u00e9lanie Joly, Minister of Industry and Minister responsible for CED, today announced a repayable contribution of $800,750 for Hydrep. This CED funding will enable the business to ensure its growth. <\/p>\n
Founded in 1981, Hydrep is recognized globally for its engineering expertise in the design, development, manufacturing and services related to electro-hydraulic systems. As part of a project to improve its productivity and foster its growth, Hydrep has been granted funding to acquire and install new robotic and automated equipment, as well as the software, systems and applications needed to design products and monitor operations in real time. <\/p>\n
The Government of Canada recognizes and supports businesses and organizations that are a source of pride in their communities. Quebec’s economic growth relies on organizations with strong roots in the regional economy; they are key assets in building a sustainable, inclusive economy. <\/p>\n
Quotes <\/p>\n
“For over 40 years, Hydrep has distinguished itself through its cutting-edge know-how and ability to design innovative solutions that meet the needs of an international clientele. Thanks to this CED support, it will be able to modernize its facilities, increase its productivity and pursue its growth in strategic sectors related to renewable energy, including hydroelectricity, wind power and equipment to install transmission lines. Supporting businesses such as this one means making our economy more competitive, stimulating innovation in our regions, and helping to create lasting wealth in Quebec.” <\/p>\n
The\u00a0Honourable M\u00e9lanie\u00a0Joly, Member\u00a0of\u00a0Parliament for\u00a0Ahuntsic\u2013Cartierville, Minister of Industry and Minister\u00a0responsible\u00a0for\u00a0CED <\/p>\n
“CED’s programs give us the means and confidence necessary to pursue our development and to strengthen our production capacity. Among other things, robotizing our machining centre will enable us to increase the productivity of our existing machines by over 50%.” <\/p>\n
Isabelle Duchesne, Executive Director, Hydrep <\/p>\n
Quick facts <\/p>\n
Funding has been granted under CED’s Regional Economic Growth through Innovation program. This program targets entrepreneurs leveraging innovation to grow their businesses and enhance their competitiveness, as well as regional economic stakeholders helping to create an entrepreneurial environment conducive to innovation and growth for all, across all regions. <\/p>\n
In Quebec, SMEs account for 99.7% of the province’s businesses and 50% of its GDP. <\/p>\n
CED is a key federal partner in Quebec’s regional economic development. With its 12\u00a0business offices, CED accompanies businesses, supporting organizations and all regions across Quebec into tomorrow’s economy. <\/p>\n
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