Fonds locaux de solidarité FTQ heads a network of 85 local funds that spans the entire province: from Gatineau to the Îles-de-la-Madeleine, from Coaticook to James Bay. In fact, of the development territories designated by the Québec government, 85 are covered by a local fund. This network, which has been built up over the years through the efforts of elected municipal leaders and their local partners, supports local economies by contributing to the development of SMEs and creating and maintaining sustainable and quality jobs. The involvement of the Québec Federation of Municipalities (FQM), a partner of the network from the outset, should also be noted.
A winning partnership
Companies have access to financing from local funds through the intermediary of their region’s Local Development Centres (LDC), which also provides a team of professionals whose job is to promote the development of local companies (in Montréal, the Community Economic Development Corporations operate as LDCs). The 85 teams working daily in these organizations are supported by 600 volunteers who sit on investment committees, and thereby contribute to driving our economy.
Fonds locaux de solidarité FTQ invests in local funds and offers professional services to LDCs to develop and support entrepreneurship, job creation and the local economy to ensure the vitality of the regions. In this way, Fonds locaux de solidarité FTQ contributes to the execution of the Fonds de solidarité FTQ’s mission. Local funds provide financing up to $100,000.
During the last year, the 85 local funds financed 251 business projects, which represent investments of $6.78 million. Over the last 21 years, 3,106 projects were supported and over 28,700 jobs were created or maintained.