Québec City, September 26, 2013 – The 85 fonds locaux de solidarité (FLS) today announced a second consecutive record year in which they backed 251 projects totalling $6.8 million of investments across all the regions of Québec. Since their creation in 1991, the FLS have invested some $97 million to foster local development.
With our partners, the Centres locaux de développement (CLD) and the Corporations de développement économique communautaire (CDEC), we have surpassed all our expectations to the benefit of business owners, their employees, the regions and the entire Québec economy,” said Jean-René Laforest, General Manager of the Fonds locaux de solidarité FTQ.
Since its inception, the FLS network has helped bring 3,106 projects with a combined value of $1.4 billion to fruition and contributed to creating or maintaining 28,700 jobs in the process. “We’ve been helping to foster local economic development and business creation all across Québec for over two decades, and we’re proud of our achievements,” added Mr. Laforest.
ACCESSIBLE FINANCING
The FLS provide the regions with important economic leverage, making over $100 million available to Québec SMEs, including $76 million from the Fonds de solidarité FTQ. Businesses can obtain financing of much as $100,000 for start-up, export, acquisition, growth or modernization projects.
“Our goal is to support local development while respecting each community’s development priorities. This is our strength, which combined with our custom financing, allows thousands of businesses to create and maintain jobs,” continued the general manager.
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 the Fonds locaux de solidarité (FLS) to enable them to encourage and support entrepreneurship, job creation and the local economy.
Visit www.fondsftq.com/fr-ca/financement/fonds-locaux.aspx for more information.
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FOR INFORMATION AND AN INTERVIEW REGARDING THE FLS 2012-2013 RESULTS:
Anne-Marie-A. Savoie | annemarie@fernandezcom.ca |
T 418 704-1559, ext. 228 | C 418 934-7448
FOR INFORMATION ABOUT THE FONDS DE SOLIDARITÉ FTQ AND ITS NETWORK:
Patrick McQuilken | pmcquilken@fondsftq.com
Senior Advisor, Media Relations and Communications
T 514 850-4835 | C 514 703-5587
FONDS LOCAUX DE SOLIDARITÉ FTQ
The FLS have been contributing to the development of local economies across Québec since their inception in 1991.
Number of local funds: 85
Number of authorized projects: 3,106
Authorized financing: $97 million
Total value of projects: $1.4 billion
Jobs created or maintained: 28,700
PORTFOLIO
At June 30, 2013
Number of local funds: 85
Number of partner companies: 856
Investments : $18.8 million