Lacus Innovations, a start-up injection molding company from Lachute, Quebec, specializing in the manufacture of spas and plastic parts for swimming pools and spas, has received a repayable contribution of $3 million from Canada Economic Development for the Regions of Quebec (DEC).
In a July 5 press release, DEC officials said the funding will allow the company to support its plant start-up and acquire and install automated manufacturing equipment.
The funds were granted under CED’s Regional Economic Growth through Innovation program.
Lacus is owned by Trevi Investments Inc. and the majority of its production will be sold to the Trevi group. The project will create approximately 150 jobs over the next two years.
“In addition to providing good jobs, the manufacturing industry makes a significant contribution to economic growth in Quebec. It is an essential link in the development of the regions and is part of our economic recovery plan,” declared Pascale St-Onge, MNA for Brome–Missisquoi, Minister of Sports and Minister responsible for CED. “With funding from our government, Lacus Innovations will be able to purchase the automated equipment it needs to start its production line. His project not only contributes to the economic vitality of Lachute and the Laurentians region, it will also allow the entire country to benefit from its successes and spin-offs.