$2.7M invested in 2013-2014
Jonquière, July 17, 2014 – Over the past year, the Fonds régionaux de solidarité FTQ in the Saguenay-Lac-Saint-Jean region invested $2.7 million to support the development of five businesses, in addition to its contribution toward creating and maintaining 511 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 the Saguenay-Lac-St-Jean 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 continue to facilitate financing in order to help the leaders of tomorrow and the growth of local companies, which will in turn support the creation and maintenance of our region’s wealth.”
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 Saguenay-Lac-Saint-Jean region in 2013. For example, Jean-François Landry, CEO of Récupère-Sol, a company specializing in the remediation of contaminated soil, received a $1 million investment to complete the purchase of the company’s assets. Laval Fortin Ltée also received an investment to help a core group of employees prepare the company’s future leaders.
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 who 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 $121 million in Saguenay-Lac-Saint-Jean, thus contributing to creating and maintaining more than 11,000 jobs in the region.
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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:
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