More than $1.3M in government support for Jenik in Trois-Rivières

Economic development of the Mauricie region

TROIS-RIVIÈRES, QC, July 12, 2018 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)

The Government of Quebec and the Government of Canada have awarded $1,092,275 and $211,759 in financial assistance, respectively, to support the start-up of Jenik, which specializes in the manufacture of aerial bucket trucks. The project has generated total investments of $2,461,700 and created 10 jobs in Mauricie.

Marc H. Plante, Member for Maskinongé and Parliamentary Assistant to the Premier for the Regions, acting on behalf of Stéphane Billette, Minister for Small and Medium Enterprises, Regulatory Streamlining and Regional Economic Development, and David Lametti, Member of Parliament for LaSalle–Émard–Verdun and Parliamentary Secretary to the Minister of Innovation, Science and Economic Development, made the announcement today.

The project has four components:

• construction of a building and acquisition of equipment for manufacturing, modifying and maintaining aerial bucket trucks;
• development of custom product models and design of mass-produced products;
• commercialization of products on the Canadian and U.S. markets;
• acquisition of a patent.

The government assistance is broken down as follows: the ministère de l'Économie, de la Science et de l'Innovation has granted a loan of $390,000 and a non-repayable financial contribution of $197,275, from the Fonds de diversification économique du Centre-du-Québec et de la Mauricie. In addition, Investissement Québec has extended a $505,000 loan from its own funds. Lastly, Canada Economic Development for Quebec Regions (CED) has awarded a repayable contribution of $211,759, helping the company purchase equipment, cover commercialization costs and acquire a patent.  

Quotes:

"Thanks to our support, Jenik can provide its clients with design services tailored to their needs and promote its products in North America. The know-how and expertise of our Trois-Rivières entrepreneurs is extending well beyond our borders and that makes us very proud!"

Marc H. Plante, Member for Maskinongé and Parliamentary Assistant to the Premier for the Regions

"Quebec and Canadian entrepreneurs are the backbone of our economy. They need to be able to rely on the best equipment and access international markets to develop and grow their businesses. With this in mind, I am delighted about the assistance awarded by the Government of Canada to Jenik."

David Lametti, Parliamentary Secretary to the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED

"Mauricie is home to motivated entrepreneurs who are determined to start up their businesses, including Jenik. Management's expertise and knowledge are definite assets for the company, allowing it to adequately respond to North American demand."

Julie Boulet, Minister of Tourism and Minister responsible for the Mauricie region

"Our government sees to it that businesses from all Quebec regions are given the tools and financial levers needed to carry out their projects, at every step of their growth. This ensures that they will be able to deal with growing competition and achieve greater prosperity."

Stéphane Billette, Minister for Small and Medium Enterprises, Regulatory Streamlining and Regional Economic Development

"As Minister of Innovation, Science and Economic Development, my goal is to help businesses grow and innovate so that they can become more competitive and create good-quality jobs. That is why we are supporting Jenik, a creative, dynamic business that is contributing to the economic vitality of the region and the Canadian economy overall."

The Honourable Navdeep Bains, Minister responsible for CED

"It is important that our government support businesses. That is why I am delighted with the announcement of this project, which has helped Jenik develop, prosper and become a key player in the local economy."

The Honourable François-Philippe Champagne, Member of Parliament for Saint-Maurice–Champlain and Minister of International Trade

"By designing machinery that is more efficient and adapted to our climate, Jenik is setting itself apart and responding more effectively to the specific needs of its North American clientele. Our funding has supported the creation of an innovative manufacturing SME that has all the potential to become an industry leader, while contributing to the economic development of Mauricie."

Pierre Gabriel Côté, Chief Executive Officer of Investissement Québec

Highlights:

• Jenik is a new innovative SME that designs, manufactures and markets inspection platforms, pods, buckets and other accessories for aerial bucket trucks. Private enterprises, engineering firms, municipalities, Hydro-Québec and various government departments use this type of truck to inspect structures such as bridges and overpasses.
• The Fonds de diversification économique du Centre-du-Québec et de la Mauricie (website in French only) supports the creation, start-up and growth of innovative, high-performance companies, as well as development projects for new products and processes.
• CED is one of the six regional development agencies under the responsibility of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.
• This year marks the 50th anniversary of federal regional economic development in Quebec: half a century of concrete action dedicated to the development of the regions and local businesses.
• For more information on CED and its priorities, consult the 2018–19 Departmental Plan or visit www.dec-ced.gc.ca.

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SOURCE Canada Economic Development for Quebec Regions