Québec City, June 19, 2014 – Over the past year, the Fonds régionaux de solidarité FTQ in the Québec City and Chaudières-Appalaches regions supported the development of nine businesses in the region, in addition to its contribution toward creating and maintaining more than 595 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 Québec City and Chaudières-Appalaches regions all hail from the region, as do the members of our Board of Directors,” confirmed Jean Roy, CEO of the Fonds régionaux de solidarité FTQ in the Québec City and Chaudières-Appalaches regions. “As a result, our team is fully aware of the labour and productivity issue businesses and workers in the region are facing, which partly explains the added value we bring.”
Thanks to the support of 615,000 Quebecers that are saving for their retirement as shareholder-owners of the Fonds de solidarité FTQ, several major projects received financial support from the Fonds régionaux de solidarité FTQ Québec City and Chaudière-Appalaches regions in 2013. For example, Groupe Qualinet, a company that specializes in post-disaster and water damage clean-up services, and Ramp-Art Inc., a company with expertise in the manufacture and installation of guard rails made of aluminium and tempered glass, obtained respective investments of $1,000,000 and $400,000 to support growth. The Fonds régionaux de solidarité FTQ also invested $300,000 in Vohl Inc., a heavy equipment manufacturer that also subcontracts processing and mechanized welding services, enabling the company to keep developing new products.
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,” claims 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 Quebec City, the Fonds immobilier and Industrial Alliance, Insurance and Financial Services, are owners of Place Québec located close to Parliament Hill in Québec City where a large-scale renovation project was completed in December 2013. The Fonds is also a partner of the Groupe de Bertin in operating five commercial and office buildings on boulevard Lebourgneuf. The Fonds has also contributed financing to the Habitations Sans Frontières project in Charlesbourg, a 48-unit rental building for seniors with some loss of autonomy.
Since its inception, the Fonds de solidarité FTQ and its network have invested more than $1 billion in the Québec City region, contributing to creating or maintaining more than 44,000 jobs. Investments in the region exceed $400 million, allowing more than 24,000 jobs to be created or maintained
-30-
Information for media representatives only:
Patrick McQuilken
Senior Advisor, Media Relations and Communications
Fonds de solidarité FTQ
Phone: 514 850-4835
Mobile: 514 703-5587
Email: pmcquilken@fondsftq.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