The Alma -based business obtains over $2,803,000 in funding from CED.
ALMA, QC , Oct. 13, 2022 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
Supporting the growth of SMEs by helping them increase their productivity directly contributes to the economic development of the regions of Quebec . That is why the Honourable Pascale St–Onge, Minister of Sport and Minister responsible for CED, today announced a $2,803,872 non–repayable contribution for Collectes Coderr. This funding will allow the social economy business to expand its plant and acquire specialized and digital equipment to increase the efficiency of its operations.
Collectes Coderr, a subsidiary of Groupe Coderr, coordinates the collection and transportation of waste and recyclable materials. Its mission is to value people by working with communities to innovate in the recovery sector. Over the past 40 years, the company has been developing multiple activities related to the collection, dismantling and recovery of residual materials.
The Government of Canada funding will allow the business, not only to expand its plant, but also to acquire conveyors for the dismantling of material, as well as specialized equipment for the recycling of motors, compressors, radiators, plastic and other components from items such as end–of–life refrigeration units.
The project, which will create 10 new jobs in the region, will promote a green economy by helping to reduce GHG emissions through the recovery of small refrigeration and air conditioning devices. Recycling materials and recovering refrigerant gases, known as halocarbons (HCFCs and CFCs), from refrigeration equipment significantly contributes to reducing landfill and, above all, to the amount of GHGs in the atmosphere.
The Government of Canada recognizes and supports businesses and organizations that are a source of pride in their communities. Quebec's sustainable economic recovery relies on organizations such as Collectes Coderr that have deep roots in the regional economy. They are major contributors to growth, as well as key assets in rebuilding a stronger, more resilient, greener and more just economy for all.
"SMEs are part of our government's sustainable economic recovery plan, which is why we are helping them increase their productivity and production capacity. CED's support for the Collectes Coderr project is a good example. There is no doubt that the success and benefits of this project involving the expansion of the company's plant and the acquisition of specialized equipment will allow the social economy business and its employees to continue reducing the amount of waste and greenhouse gas emissions. Hats off to the Collectes Coderr team!"
The Honourable Pascale St–Onge, Member of Parliament for Brome–Missisquoi, Minister of Sport and Minister responsible for CED
"We are very proud to see that our government and our community believe in us and in what we do for communities. At Coderr, innovation plays a key role in our circular economy development strategies. This investment—and also the passion and hard work that Coderr's staff put into achieving our goals—will once again propel our organization to new heights. New markets in the field of reusing, recycling and recovering materials will be opening up for us in the coming years. We will be there, ready for action."
Josée Gauthier, Executive Director, Groupe Coderr
The funds have 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.
Quebec SMEs account for 99.7% of the province's businesses and 50% of its GDP.
CED is the key federal partner in Quebec's regional economic development. Through its 12 regional business offices, CED assists businesses, support organizations and the regions of Quebec as they prepare for the economy of tomorrow.
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SOURCE Canada Economic Development for Quebec Regions
View original content: http://www.newswire.ca/en/releases/archive/October2022/13/c3216.html
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