Quebec Economic Development Program (QEDP): Diversify your Economy
Grant, Loan
Description:
This program provides financial support to SMEs and non-profit organizations (NPOs) to attract international organizations to the regions, draw tourists from outside Quebec or acquire community economic facilities. Examples of funded projects include:
1. the development of the tourism industry by:
a) implementing a commercialization strategy (development of promotional tools; participation in events; etc.);
b) developing and enhancing the tourist attractions, festivals, sporting events and cultural productions.
2. support for communities experiencing slow economic growth or an economic shock;
3. support for local entrepreneurship through:
a) acquisition of production equipment;
b) hiring of experts or professionals;
c) marketing of products and services;
d) enhancement of the capacity to innovate and develop new products or processes.
Comments on Funding:
Financial assistance for SMEs is:
– generally of up to 50% of authorized costs.
– repayable, without interest. Repayment begins two years after the end of the project.
Financial assistance for NPOs is:
– non-repayable;
– generally of up to 90% of authorized costs.
Eligibility:
Applicants must be:
1. Non-profit organizations (NPOs);
2. Economic development organizations;
3. Municipalities and regional county municipalities (RCMs);
4. Organizations tasked with attracting international organizations and foreign investment;
5. Local businesses;
6. Co-ops;
7. Business associations;
8. Indigenous organizations.
Application Steps:
For application details, applicants must contact CED by telephone at 1-800-561-0633 or by email to discuss their project.
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
Regional Economic Growth through Innovation (REGI), Quebec Economic Development Program (QEDP) and Community Futures Program (CFP) are the three major programs that bring together the various financial assistance measures offered by CED. REGI supports the economic growth of businesses and regions through innovation.
QEDP aims to help communities seize promising economic development and diversification opportunities.
CFP supports local economic development and strengthens the capacity of communities to develop their full potential in a sustainable manner. Through this program, CED provides financial support for community development organizations in Quebec regions.
About the author
Maurice
