More than $1.6M invested in 2013-2014
Sept-Îles, July 17, 2014 – Over the past year, the Fonds régionaux de solidarité FTQ in the Côte-Nord region invested more than $1.6 million to support the development of three businesses in the region, in addition to its contribution toward creating and maintaining 66 jobs. These noteworthy results, drawn from the annual financial statement of the Fonds régionaux de solidarité FTQ, demonstrate the major economic role played by this business network in Québec’s regions.
“The employees of the Fonds régionaux de solidarité FTQ in Côte-Nord all hail from the region, as do the members of our Board of Directors,” confirms Luc Pinard, President and CEO of the Fonds régionaux de solidarité FTQ. “We want to maintain our support for the businesses in Côte-Nord so they can continue to grow and diversify our economy.”
Thanks to the support of 614,000 Quebecers that are saving for their retirement as owner-shareholders of the Fonds de solidarité FTQ, several major projects received financial support from the Fonds régionaux de solidarité FTQ in the Côte-Nord region in 2013. It is worth mentioning that the Fonds régionaux de solidarité FTQ has been very active in the recreo-tourism sector with investments into Motels de l’Énergie, located at the foot of the Manic-5 damn, Hôtel Mingan and the construction of the Château Arnaud in Sept-Îles.
Present across Québec, the 16 regional funds and 83 local funds are part of the Fonds de solidarité FTQ network, and each benefits from the resources and support that are available across Québec’s territory. “The strength of our network relies on the fair and adequate integration of our global vision and our regional outlooks,” claims Luc Pinard. With assets of $10.1 billion and more than 2,450 partner companies, the Fonds and its network have the resources required to provide solid support for the economic development of Québec’s regions.”
The network also includes the Fonds immobilier de solidarité FTQ, which acts as an economic catalyst by investing in real estate projects in the residential, commercial, office and industrial real estate sectors. The Fonds fulfills this role by forging partnerships with real estate developers and builders that are active across the province. As of May 31, 2014, the Fonds immobilier had 30 buildings under its management and 18 million square feet of land to develop, with $53 million earmarked for affordable housing, social and community development and 30 real estate projects with a total value of $1.6 billion currently being developed.
Since its inception, the Fonds de solidarité FTQ and its network have invested more than $36 million in Côte-Nord, thus contributing to creating and maintaining jobs in the region.
-30-
Information for media representatives only:
Guillaume Bérubé
Phone: 514 282-4719
Mobile: 514 883-5948
Email: guillaume.berube@citoyenoptimum.com
Le Fonds de solidarité FTQ on the Web:
Website: www.FondsFTQ.com
Facebook: www.facebook.com/FondsFTQ
Twitter: @FondsFTQ
YouTube: www.youtube.com/FondsFTQ
linkedin: www.linkedin.com/company/fonds-de-solidarite-ftq