LAC-MÉGANTIC, QUEBEC--(Marketwire - May 26, 2011) - The Honourable Christian Paradis, Minister of Industry and Minister of State (Agriculture), today announced the awarding of $2,001,810 in non-repayable funding to the SADC of the Mégantic region.

"I am delighted to see the agreement between Canada Economic Development and the SADC of the Mégantic region renewed for the next five years. It will allow more resources to be made available to enterprises without putting an additional burden on taxpayers. This commitment by the Government of Canada reflects the importance Canada places on local development and the key role organizations like the SADC of the Mégantic region play in the Quebec economy, particularly at a time when our economy is still fragile," explained Minister Paradis.

The Minister took this opportunity to recall the announcement made last March 18 by the current Minister of Transport, Infrastructure and Communities and Minister of the Economic Development Agency of Canada for the Regions of Quebec, the Honourable Denis Lebel. The announcement concerned the signing of a five-year agreement worth nearly $154 million with Quebec's Sociétés d'aide au développement des collectivités (SADC), Centres d'aide aux entreprises (CAE), Réseau des SADC et CAE and Fonds commun des SADC.

This funding is granted through the Community Futures Program (CFP), supplemented by an additional budget from Canada Economic Development.

The Community Futures Program is a national program that supports local economic development and strengthens the ability of communities to reach their full potential in a sustainable manner. The SADCs and CAEs - known outside Quebec as Community Futures Corporations (CFDCs) and Community Business Development Corporations (CBDCs), respectively, are non-profit incorporated organizations administered by boards of directors made up of local volunteer members.

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Contact Information:

Suzanne Thebarge
Canada Economic Development

Benoit Fortin
Special Assistant, Communications
Office of the Honourable Denis Lebel
Canada Economic Development