archived
Lac-Mégantic Economic Assistance Fund (FAELM)
Last Update: March 4, 2026
Lac-Megantic, Quebec, Canada
Supports economic development and job creation in Lac-Mégantic
Grant and Funding
Overview
The Lac-Mégantic Economic Assistance Fund (FAELM) provided up to $3 million in financial support to stimulate investment, entrepreneurship, and economic revitalization in the municipality of Lac-Mégantic between April 2018 and March 2022. Eligible activities included business development, project support, job creation and retention, and initiatives to enhance the local tourism offering.
At a glance
Funding available
Financing goals
- Improve employee retention
Eligible Funding
- No Condition
Timeline
- Archived
Eligible candidates
Eligible Industries
- Manufacturing
- Accommodation and food services
- Other services (except public administration)
- Public administration
Location
- Lac-Megantic
- Estrie
- Quebec
Legal structures
- For-profit business
Annual revenue
- All revenue ranges
Organisation size
- All organization sizes
Audience
- All groups
Activities funded
- Support for business projects led by companies in Lac-Mégantic.
- Development and launch of new businesses in the region.
- Implementation of projects that increase company revenue and productivity.
- Initiatives contributing to job creation and retention in the local economy.
- Development of the tourism sector, such as hotel construction.
Eligibility
- 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
Selection criteria
- 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.
Additional information
- 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.
Contacts
evaluation@economie.gouv.qc.ca
