Today, Joël Lightbound, Parliamentary Secretary to the Minister of Finance, is in the city of Québec to announce the $100-million investment in CanExport funding programs. CanExport helps Canadian communities attract, retain and expand foreign investments, while also supporting local entrepreneurs looking to develop and access new export opportunities.
Parliamentary Secretary Lightbound met with Québec International, an investment promotion agency and driving force for economic development for the region of the city of Québec. The organization has received more than $1 million in CanExport - Community Investments funding since 2016 in support of its goal to attract job-creating companies that strengthen the community.
The CanExport expansion is a key component of New Markets, New Customers, New Jobs: Canada’s Trade Diversification Strategy, an investment of $1.1 billion over six years to help Canadian businesses and communities succeed. This effort capitalizes on Canada’s new trade agreements with more than fifty countries, which provide Canadian businesses with preferential access to 1.5 billion customers. With these investments, the government continues to make Canada the most well-connected trading economy worldwide, while creating more jobs at home.
Quotes
“Companies invest not just in countries, but in projects and in communities as well, so coordination with partners like Québec International is essential to Canada’s success in stimulating international investment. The investments we are making to support our communities will strengthen our economy, spur innovation and create good, well-paying jobs for the middle class.”- Joël Lightbound, Parliamentary Secretary to the Minister of Finance
“This support from the government, through the CanExport program, is helping us to support companies with their market development projects and to strengthen our efforts to attract foreign investors. In the past three years, our organization has generated more than $930 million in overall economic benefits, including some $525 million in foreign investment.”
- Line Lagacé, Vice-President, Business Growth and Foreign Investment Prospecting, Québec International
Quick facts
- The 2018 Fall Economic Statement announced investments of $100 million over six years to reinforce the CanExport program and related funding programs so that more Canadian businesses can explore new international markets.
- Since 2016, the CanExport - Community Investments program has funded 148 organizations across Canada with more than $16 million in support of international investment attraction, retention and expansion.
- The CanExport - Community Investments program has provided $3.8 million in funding to Quebec communities since 2016.
- The 2018 Fall Economic Statement announced investments of $290 million over five years to help Canadian businesses export and grow and to strengthen the Canadian Trade Commissioner Service and enhance the support it provides to Canadian exporters.
