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Canada announces financial assistance to Jenik, aerial bucket truck manufacturer

The Government of Quebec and the Government of Canada have awarded $1,092,275 and $211,759 in financial assistance, respectively


Government Press Release 13 Jul 2018, 04:08 AM Canada
Canada announces financial assistance to Jenik, aerial bucket truck manufacturer
  • In addition, Investissement Québec has extended a $505,000 loan from its own funds. (Image Credit: Twitter)

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.