$4.725M invested in the Abitibi-Témiscamingue and Nord-du-Québec regions in 2013-2014
Rouyn-Noranda, July 8, 2014 – Over the past year, the Fonds régionaux de solidarité FTQ in the Nord-Ouest du Québec invested close to $5 million dollars to support the development of 10 businesses in the region, in addition to its contribution toward creating and maintaining more than 490 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 Nord-Ouest du Québec all hail from the region, as do the members of our Board of Directors,” confirms Raymond Grenier, CEO of the Fonds régionaux de solidarité FTQ in the Nord-Ouest du Québec. “We want to continue to facilitate financing for business succession, support our clients in their growth and acquisition projects and offer financing solutions that are adapted to the needs of businesses in our regions.”
Thanks to the support of 614,000 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 in the Nord-Ouest du Québec in 2013. For example, the investment made by the Fonds régionaux in ASDR Fabrication Inc. will help support the company’s growth following the construction of a new workshop in 2012. With regard to Propair, the financial support granted by the Fonds régionaux made it possible for a group of business people in the region to purchase the company, thereby ensuring its succession. The $500,000 reinvestment in Machines Roger International Inc. made by the Fonds régionaux will help the company support its recent growth.
Present across Québec, the 16 regional fonds and 83 local fonds 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, President and CEO of the Fonds régionaux de solidarité FTQ. 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. At May 31, 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.
Since its inception, the Fonds de solidarité FTQ and its network have invested more than $254 million in the Nord-Ouest du Québec, thus contributing to creating or maintaining more than 12,800 jobs.
- 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