SHERBROOKE, QC, April 14, 2022 /CNW Telbec/ – Canada Economic Development for Quebec Regions (CED) – Through Budget 2022: A Plan to Grow Our Economy and Make Life More Affordable, the Government of Canada makes targeted and responsible investments to create good jobs, grow our economy, and build a Canada where nobody gets left behind.
Today, the Minister of Sport and Minister responsible for Canada Economic Development for Quebec Regions (CED), the Honourable Pascale St-Onge, was in the Cantons-de-l’Est region. During a visit to Amecci along with Élisabeth Brière, Member of Parliament for Sherbrooke and Parliamentary Secretary to the Minister of Mental Health and Addictions and Associate Minister of Health, she highlighted Budget 2022 investments that will help build a strong, growing, and resilient economy. She also took the opportunity to announce a repayable contribution of $221,250 from CED for the family-run business. This contribution will enable Amecci to acquire a new laser cutter and to proceed with leasehold improvements to enhance its productivity and pursue growth.
The first pillar of the budget is investing in Canadians and making life more affordable. Budget 2022 housing measures will put Canada on the path to double housing construction over the next decade; help Canadians save for and buy their first home; ban foreign investment in Canadian housing; and curb unfair practices that make housing more expensive for Canadians. Budget 2022 also invests in ensuring Canadian workers have the skills they need for the good‑paying jobs of today and tomorrow, and will make it easier for the skilled immigrants that our economy needs to make Canada their home. The Budget makes further significant investments in affordable child care, in our public health care system, and in advancing reconciliation with Indigenous peoples.
Second, Budget 2022 invests in economic growth and innovation—the key to Canada’s long‑term prosperity. This includes launching a new world-leading Canada Growth Fund that will attract tens of billions of dollars in private investment in Canadian industries and Canadian jobs, and a new innovation and investment agency that will help drive productivity and growth across our economy. The budget also proposes to implement Canada’s first Critical Minerals Strategy—one that will create thousands of good jobs and capitalize on a growing need for the minerals used in everything from phones to electric cars. Measures also include steps to build more resilient supply chains, and to cut taxes for Canada’s growing small businesses.
The third pillar of Budget 2022 is investing in a clean economy. To help Canadians and Canadian businesses benefit from the global transition to a clean economy, Budget 2022 includes new incentives for the development of clean technologies and carbon capture, utilization, and storage. In addition to further investments to protect our land, lakes, and oceans, the government will also make it more affordable for Canadians to purchase zero-emission vehicles, build and expand a national network of zero-emission vehicle charging stations, and make new investments in clean energy.
Canada entered the pandemic with the lowest net debt-to-GDP ratio of all G7 countries—an advantage that has since increased relative to other countries. Canada has seen the best jobs recovery in the G7, and as of March 2022, has recovered 115 per cent of the jobs lost at the height of the pandemic, with an unemployment rate that sits at just 5.3 per cent—the lowest rate on record since 1976. With Budget 2022, Canada will maintain this leading position, and maintain its fiscally responsible approach to economic growth and to building an economy that works for everyone. Crucially, it upholds the government’s fiscal anchor—a declining debt‑to‑GDP ratio and the unwinding of COVID-19-related deficits, which will ensure that Canada’s finances remain sustainable in the long term.
“SMEs are a core element of our economy and our communities and are a part of our government’s economic recovery plan. I am delighted that the Government is supporting Amecci. Through this contribution, the business will be able to enhance its productivity and maintain its position as a select, competitive supplier. Budget 2022 outlines investments aimed at supporting businesses such as Amecci to boost Canada’s long-term growth.”
The Honourable Pascale St-Onge, Member of Parliament for Brome–Missisquoi, Minister of Sport and Minister responsible for CED
“Businesses such as Amecci that stand out due to the wide variety and unique nature of their products must constantly adjust to market demand. That is why the Government must continue to support them so they can remain competitive and help our economy grow. And that is precisely what our government is doing by granting this contribution to this homegrown family business.”
Élisabeth Brière, Member of Parliament for Sherbrooke and Parliamentary Secretary to the Minister of Mental Health and Addictions and Associate Minister of Health
“Budget 2022 is about growing our economy, creating good jobs, and building a Canada where nobody gets left behind. Our plan is responsible and considered, and it is going to mean more homes and good-paying jobs for Canadians; cleaner air and cleaner water for our children; and a stronger and more resilient economy for years to come.”
The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance
“At Amecci, we have always been able to move forward through adversity by drawing on our creativity and our innovation, and today is no exception. We aim to remain competitive and face the challenge represented by the labour shortage, and this investment in a new laser cutter will make all the difference for us. As part of our plan to transform, we had to find a way to increase our production capacity and automate this service to the maximum. Without this assistance from CED, none of this would be possible.”
Michel Lequin, President, Amecci
- Since 1988, Amecci has been manufacturing, processing, and distributing over 2000 high‑quality abrasive products across North America. This full range of multi-purpose industrial products are used to treat wood, vehicle bodywork, metal, and composite materials. With state-of-the-art technology, Amecci stands out for the wide variety and unique nature of its products. Today, the business is considered one of the largest abrasive product processors in Canada.
- Budget 2022: A Plan to Grow Our Economy and Make Life More Affordable
- Budget Speech
- Backgrounders on budget measures:
- Making Housing More Affordable
- A Strong, Growing, and Resilient Economy
- Clean Air and a Strong Economy
- Creating Good Middle Class Jobs
- Canada’s Leadership in the World
- Strong Public Health Care
- Moving Forward on Reconciliation
- Safe & Inclusive Communities
- Investing to Make Life More Affordable
- Supporting Canada’s Rural Communities
- Supporting Early Learning and Child Care
- Tax Fairness
SOURCE Canada Economic Development for Quebec Regions