Laval, June 19, 2014 – Over the past year, the Fonds régionaux de solidarité FTQ in the regions of Laval, Lanaudière and the Laurentides supported the development of 11 businesses in the region, in addition to its contribution toward creating and maintaining more than 380 jobs. These noteworthy results, drawn from the annual financial statement of the FTQ Fonds régionaux de solidarité, demonstrate the major economic role played by this business network in Québec’s regions.
“The employees of the Fonds régionaux de solidarité FTQ in Laval, Lanaudière and the Laurentides all hail from the region, as do the members of our Board of Directors,” confirmed Éric Dargis, CEO of the Fonds régionaux de solidarité FTQ in Laval, Lanaudière and the Laurentides. “As a result, our team is fully aware of the issues businesses and workers in the region are facing, which partly explains the added value we bring to the table.”
Thanks to the support of 615,000 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 Laval, Lanaudière and the Laurentides in 2013. For example, ABC Environnement, a company that specializes in the cleaning, drainage and sanitization of sewage treatment plants, received a $400,000 reinvestment to proceed with acquisitions. Likewise, Lev-Fab, a company that specializes in custom pipe and metal sheet bending, will be able to complete its expansion project as a result of a $300,000 investment.
The 16 regional funds and 86 local funds of the Fonds de solidarité FTQ benefit from the resources and support that are available across the network. “The strength of our network relies on the fair and adequate integration of our global vision and our regional outlooks,” said Luc Pinard, President and CEO of the Fonds régionaux de solidarité FTQ. “With assets of $9.7 billion and more than 2,400 partner companies, the Fonds and its network have the resources required to provide concrete 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. At May 30, 2014, the Fonds immobilier had 30 buildings under its management and 18 million square feet of land to develop, with $54 million dollars earmarked for affordable housing, social and community development, and 30 real estate projects with a total value of $1.6 billion currently under development. For example, in Laval, the Fonds immobilier owns 565,000 square feet of land strategically located close to the Montmorency metro station, where a substantial real estate project encompassing residential, commercial and office space is set to be built. In nearby Blainville, the Fonds immobilier and its partner Cosoltec launched Le Monroe this spring, a multi-residential project featuring 136 condominiums, penthouses and townhouses.
Since its inception, the Fonds de solidarité FTQ and its network have invested more than more than $470 million in the Laval region, contributing to creating and maintaining more than 15,000 jobs. A total in excess of $145 million has been invested in Lanaudière and more than $430 million has been invested in the Laurentides, representing a respective total of 6,300 and 15,000 jobs that have been created or maintained.
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