Press release

Québec City, November 17, 2011– Fonds locaux de solidarité FTQ in partnership with the Fonds de solidarité FTQ and the Fédération Québécoise des Municipalités will be marking their 20th anniversary on November 17th and 18th in Québec City at an event that will bring together more than 200 people.

“For 20 years, people from across Québec have given back to their region by participating in the Fonds locaux de solidarité. The dedication of the 85 different funds’ volunteers, managing organizations and partners helped create and save 24,555 jobs in some 2,632 projects ” declared Mr. Jean-René Laforest, general manager of the Fonds locaux de solidarité FTQ.

“The local solidarity funds’ contribution to the Québec economy is undeniable. It is a unique model of economic development which has made its mark over the last 20 years and which will continue to do so by offering financing for SME startups and growth” said Mr. Yvon Bolduc, president and chief executive officer of the Fonds de solidarité FTQ.

“The local solidarity funds have become key actors in the economic development of Québec. Everyone involved in this success can be proud of the jobs created and saved in all corners of Québec” declared Mr. Daniel Boyer, secretary of the Fonds de solidarité FTQ.

“In 1991, the municipal world, represented by the FQM and workers, represented by the Fonds de solidarité FTQ came together for the development of enterprises in all regions. Twenty years later, it is clear that this association has been very fruitful, the Fonds locaux de solidarité being one of the FQM’s greatest achievements. These funds are a model to follow when it comes to our most cherished objective, a dynamic presence in all regions of Québec” declared Mr. Bernard Généreux, the president of the Fédération Québécoise des Municipalités.

“Investing in Québec’s Future… Now” will be the theme of the event. Participants will reflect on the future of the FLS: what actions are necessary to make the Fonds locaux an even more efficient, solid and sustainable tool for development? They will also participate in a panel discussion entitled “Developing together a business culture.” Hosted by Mr. Sylvain Boudreau, this panel is specially organized for the 20^th anniversary and will include Mr. René Vézina, columnist at Les Affaires and Mr. Bernard Bélanger, president and chief executive officer of Premier Tech, a company from the Bas-Saint-Laurent focusing on innovation. 

Back in 1991, the Fonds de solidarité FTQ and the Fédération Québécoise des Municipalités conceived the idea of a network of local solidarity funds. Thanks to the involvement of municipal officials and local partners, this network known originally as SOLIDE, supports the local economy by furthering the development of SMEs and creating and maintaining lasting, quality jobs.

 

Businesses can obtain financing from their local solidarity fund through their local Centre local de développement (CLD) and its team of professionals who are committed to supporting the growth of SMEs on their territory. In Montréal, the Corporations de développement économique communautaire (CDÉC) are accredited as a CLD.

 

About the Fonds locaux de solidarité FTQ

Fonds locaux de solidarité FTQ is a limited partnership created by the Fonds de solidarité FTQ and the Fédération Québécoise des Municipalités (FQM) in 1991. Its mission is to invest in local solidarity funds to help develop and support entrepreneurship, job creation and local economies.

About the Fonds de solidarité FTQ

The Fonds de solidarité FTQ helps drive our economy. With net assets of $8.2 billion as at May 31, 2011, the Fund is a development capital investment fund that channels the savings of Quebecers into investments in all sectors of the economy to help further Québec's economic growth. The Fund is a partner, either directly or through its network members, in 2,129 companies. With its 583,235 owner-shareholders, it has helped, on its own or with other financial partners, to create, maintain and protect 160,789 jobs. For more information, visit www.fondsftq.com.

About the Fédération Québécoise des Municipalités

Founded in 1944, the Fédération Québécoise des Municipalités has established itself as a credible actor by its actions in continuously defending the autonomy of the municipal world and favouring the development of all regions of Québec. With more than 1,000 member municipalities and MRCs, it is supported by the work of 7,000 elected officials. Its decision-making and consultation structures, including its board of directors, its five standing committees and its assembly of MRCs, allows it to adopt positions for the sustainable development of the territory. The FQM, the voice of municipalities and regions of Québec!

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