$850,000 of Economic Impact in 2023-2024

$850,000 of Economic Impact in 2023-2024

Based on its 2023–2024-year end reporting, CEDEC estimates an economic impact of $850,000 from the activities/services of the public, private, and civil society Ventures it supports as the Collaborative Economic Development Hub for the English-speaking Community of Quebec.

The estimate of economic impact is based upon jobs filled or maintained in the 2023-2024 fiscal year through Venture activities or services in four regions across the province.

More specifically:

  • Twenty-three jobs were filled or maintained due to Venture activities or services. Fifteen jobs were new jobs, and eight jobs were sustained from previous years. This included both full-time, part-time, and seasonal jobs.
  • The estimated number of hours worked by new or established hires totaled 18,200 hours.
  • The average hourly income of these jobs was $29 per hire.

The economic ripple effect of the 23 jobs created or maintained by the Ventures is equivalent to 12 indirect and induced jobs in three provinces including Quebec, Ontario, and Newfoundland and Labrador.

The four public, private, and civil society Ventures which contributed to the economic impact reported by CEDEC in 2023 2024 are in the following regions.

  • Baie-Comeau – Earn as You Learn Training for Cruise ship Tour Guides and Welcome Agents
  • Côte-Nord– Côte-Nord Labrador Interprovincial Tourism
  • Québec City Area – Québec Connects Talent Matching
  • Greater Montreal Area – EmployESBC Talent Matching

Creating jobs, placing individuals in available jobs, or maintaining individuals in existing jobs generates tangible economic benefits for both individuals and the communities they live and work in.

This is a concrete illustration of CEDEC’s unwavering commitment to building a better economy for better lives for English-speaking Quebecers, Francophone Quebecers, and all Canadians.

DIRECT IMPACT refers to the direct employment (i.e.: hire) because of the intervention of a CEDEC Venture.

INDIRECT IMPACT refers to a change in employment in the backward-linked industries that supply tools, materials, plant, and equipment, and other services.

INDUCED IMPACT refers to a change in employment in the forward-linked industries, as those benefitting from direct and indirect employment spend their income on goods and services.