Lac-Mégantic Economic Assistance Fund (FAELM)

• Financial assistance totaling $3 million was distributed between April 1, 2018, and March 31, 2022.
• 15 projects were supported, including 11 with businesses, representing total project value of $12.84 million.
• Partner investments accounted for 76% of overall project costs.
• The financial leverage effect of the fund was 3.2, with a public spending return ratio exceeding 1.89.

• The applicant organization must be located in the municipality of Lac-Mégantic or the surrounding area.
• The project must contribute to the economic development of Lac-Mégantic or its region.
• The applicant can be a business or organization seeking financial support for an initiative aligned with the program's objectives.

Who is eligible?

• Businesses located in Lac-Mégantic
• Organizations operating in Lac-Mégantic

Eligible geographic areas

• Municipality of Lac-Mégantic
• MRC du Granit

• Relevance of the project to the economic needs of Lac-Mégantic and the surrounding region.
• Ability of the project to generate investments and mobilize partners.
• Potential for the project to create or maintain jobs.
• Demonstrated value added and utility for stakeholders.
• Compliance with established program guidelines and sound management practices.

• An evaluation confirmed the program's efficiency and effectiveness in supporting key projects and investment in Lac-Mégantic.
• The fund demonstrated strong leverage, with partners contributing 76% of total project costs.
• Beneficiaries and partners generally expressed satisfaction with the program's governance and results.
• The conclusion of the program was scheduled for 2023, with recommendations for optimizing future interventions in economically vulnerable regions.