Economic Recovery Initiative for Lac-Mégantic

Canada Economic Development for Quebec Regions is aiding in the economic and commercial recovery of the town of Lac-Mégantic in the aftermath of the rail accident that occurred July 6, 2013.

The Agency is making it a priority to be there for the businesses and community of Lac-Mégantic, be it for the short, medium or long term.

The support consists of a $35 million budget allocation and is divided into three components.

Component 1 – City reconstruction projects

Up to $20 million in aid is being allocated for the restoration, improvement or construction of public infrastructure in the town of Lac-Mégantic. The Agency is working in close collaboration with town officials to identify potential projects for funding under this first component.

For further information on this component, see the City reconstruction projects page.

Component 2 – Support for SMEs and organizations

The support component for enterprises and organizations includes up to $10 million in funding for projects within the town of Lac-Mégantic. Businesses and organizations, whether directly affected by the July 6th tragedy or not, may be eligible for this second component provided their projects contribute to the economic and commercial recovery of the town of Lac-Mégantic. The funding from the Agency complements other government programs.

To learn more about this component, see the Suport for SMEs and organizations page.

Component 3 – Investment funds

Lastly, the Agency has set up two investment funds, with a total budget allocation of $5 million, administered by the Mégantic region Société d’aide au développement de la collectivité to support business community projects aimed at strengthening the town’s economic and commercial activities and projects to build, restore or improve community infrastructure.

For more information on this component, visit the Société d’aide au développement de la collectivité de la région de Mégantic Web site or call 819-583-5332.