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| Mrs. Lucie Papineau, Quebec's Minister-Delegate of Industry and Commerce added $280 million to the auto supplier pot. (Photo: Assemblee Nationale Quebec) |
General Motors isn't alone in funding the new development project. Mrs. Lucie Papineau, Minister-Delegate of Industry and commerce stated that, "to reach these goals and develop the Quebec supplier base, we [provincial government] will allocate up to $280 million in the form of financial aid either through existing or new programs."
The SGF will also do their part by creating a "wholly-owned subsidiary, the Quebec Auto Partnership (QAP Inc.), which will fall under the responsibility of its SGF Transport division. The QAP will act as a one-stop-shop, coordinating the various investment projects in the automotive sector and will facilitate access to principals. It will ensure that all of Quebec's applicable advantages and programs are fully leveraged and that the projects truly meet the need of the automotive industry. SGF will continue to realize its objectives and will be able to participate in the equity financing of its suppliers so that they may establish themselves or expand their business in Quebec based on a solid foundation," commented Mr. Eric Hubar Meunier, Vice President of the SGF.
A Manager of Quebec Supplier Development will be designated by GM Canada to explore, initiate and then execute comprehensive supplier development plans. Grimaldi said, "We are pleased to be working with the Government of Quebec to do our share, but Quebec suppliers will be much stronger if they have a portfolio of business with other OEM's. Accordingly, we support the Government of Quebec in its efforts to reach out to other manufacturers to engage them in the Quebec Auto Partnership (QAP Inc.) and help to develop Quebec's auto supply industry."