Quebec Economic Development Program (QEDP)- Diversify your economy

Overview of the Quebec Economic Development Program (QEDP)- Diversify your economy program:

The Diversify Your Economy initiative is an economic development programme administered by Canada Economic Development for Quebec Regions (CED). Its primary objective is to assist businesses, communities, and non-profit organisations in regions of Quebec that are economically vulnerable due to dependency on a small number of traditional sectors (e.g. natural resources, manufacturing) or that are undergoing economic restructuring. The programme supports projects that encourage economic diversification, strengthen regional economies, promote entrepreneurship, and improve the capacity of businesses and organisations to adapt to change. This includes fostering new industries, supporting innovation, increasing competitiveness, and building more resilient local economies. Funding is available to both for-profit businesses—especially small and medium-sized enterprises (SMEs)—and not-for-profit organisations, including sectoral associations, Indigenous organisations, municipalities, local development agencies, and co-operatives. The program helps implement strategic initiatives such as: Adoption of new technologies Business expansion and modernisation Development of new products and markets Support for local entrepreneurial ecosystems Creation of business incubators and accelerators Skills development and community infrastructure projects The programme places a strong emphasis on long-term job creation, regional sustainability, and the inclusion of traditionally underrepresented populations. It complements federal priorities such as clean growth, digital innovation, and inclusive economic development. Projects must align with regional development strategies and demonstrate measurable economic impact. Applicants are encouraged to contact CED to discuss the eligibility of their project prior to submitting an application.

Benefits of the Quebec Economic Development Program (QEDP)- Diversify your economy program:

• Financial assistance tailored to the needs of communities and businesses facing economic challenges
• Enables adoption of new technologies and modernisation of business operations
• Encourages diversification into new industries and markets
• Promotes creation and expansion of local entrepreneurial ecosystems
• Supports infrastructure and skills development in regional economies
• Strengthens the resilience of communities affected by industrial decline
• Helps build inclusive, innovative, and sustainable regional economies
• Priority support for projects in underperforming or transitional economies

Eligibility criteria of the Quebec Economic Development Program (QEDP)- Diversify your economy program:

• To be eligible, applicants must meet the following criteria:
• Location: Be located in Quebec, particularly in regions undergoing economic restructuring or facing challenges tied to declining traditional industries
• Eligible Applicants:
• For-profit SMEs (repayable funding)
• Non-profit organisations such as municipalities, Indigenous communities, co-operatives, sectoral groups (non-repayable funding)
• Project Scope:
• Economic diversification initiatives
• Technology adoption and productivity enhancement
• Market development and commercialisation
• Infrastructure development related to economic activity
• Entrepreneurship and innovation support services
• Impact: Projects must demonstrate economic impact through job creation, diversification outcomes, or capacity building
• Alignment: Projects must align with regional development priorities and federal goals for sustainable and inclusive growth