Economic project support program (PSPE)

This document was prepared with the information on the ministère du Développement économique, de l'Innovation et de l'Exportation’s Web site.

This support program for SME investments aims to promote business development and job creation through financial assistance adapted to the specific needs of each project.

The Economic project support program is reserved for the seven resource regions and the twenty least favoured regional county municipalities (RCMs) in the central regions.

Eligibility Criteria

Target clientele

• Private for-profit enterprises and cooperatives whose activities are similar to those of private for-profit enterprises.
• Manufacturing, tourism, and environmental enterprises and companies whose activities are in line with priorities laid out in their region’s strategic development plan.
• Companies in the accommodation sector for projects increasing the number of distinctive housing units and projects to consolidate or diversify accommodation establishments as justified by market demand.

Eligible Area

Lower Saint Lawrence, Saguenay-Lac-Saint-Jean, Mauricie, Abitibi-Témiscamingue, North Shore, Northern Quebec, Gaspé-Magdalen Islands. Eligible RCMs : Eastern Charlevoix, Charlevoix, Islet, Montmagny, Robert-Cliche, Etchemins, Amiante, Érable, Nicolet-Yamaska, Asbestos, Upper Saint-François, Lower Richelieu, Beauharnois-Salaberry, Matawinie, Montcalm, Argenteuil, Antoine-Labelle, Papineau, Gatineau Valley, Pontiac.

Eligible Activities

Projects or activities concerned

• Investment projects linked to company start-ups or expansions offering reasonable prospects for economic success and profitability and helping to protect and create jobs in the region.
• Proposals whose eligible expenses (see below) are between $250,000 and $10 M.
• In the case of company start-ups, project funding must entail an investment of at least 20% of the total cost of the project.  For projects submitted by existing companies, the financing plan must indicate a satisfactory balance.
• For projects to modernize or increase production capacity of a manufacturing facility  of an existing company, the financial assistance must make it possible to increase fixed assets by at least 20%.
• With regard to the Northern Quebec region and the part of the North Shore region encompassing Indian reserves and municipalities in the RCM of Caniapiscau and the Lower North Shore, proposals with eligible expenses under $250,000 may be considered.

Summary

Financial assistance takes the form of a grant.

Eligible expenses:

• Capital expenditures linked to the company’s investment project (land, building, equipment, machinery, rolling stock, etc.)

• Expenditures for the acquisition of technologies, software, patents, etc.

Amount of financing

Financial assistance may not exceed 15% of eligible expenses or $250,000 per project.  The total of all government assistance may not exceed 50% of the project costs.

For more information, consult the Web site at http://www.mdeie.gouv.qc.ca/page/web/portail/ministere/service.prt?svcid=PROGRAMMES2&page=details.jsp&iddoc=43566 (In French only)