Montréal International bolsters its prospecting activities for high-value-added foreign investments
The Government of Québec and the City of Montréal confirm investments totaling $1M to leverage international opportunities, particularly in Montréal’s East End.
Montréal, Monday, December 2, 2024 – With financial support from the Government of Québec and the City of Montréal, the economic promotion agency Montréal International (MI) is strengthening its international prospecting efforts. Thanks to this funding, the organization will be able to target projects that address gaps in the most strategic value chains for the metropolitan area. It will also help support the sustainable economic development of Montréal’s East End, focusing on sectors such as clean technologies, the circular economy, and life sciences.
The initiative was unveiled at a luncheon organized by the Chambre de commerce de l’Est de Montréal, with Christine Fréchette, Minister of Economy, Innovation and Energy, and Minister responsible for the Metropolis and the Montréal Region, and Mr. Luc Rabouin, Chair of the Executive Committee of the City of Montréal and responsible for finance, economic development, and higher education.
“Just like our government, Montréal International is committed to supporting the economic growth of the metropolis. By investing $500,000 in MI’s mission, we aim to seize every opportunity for development in the East. This partnership will benefit both Montréal and all of Québec.” said the minister.
“The $500,000 funding we are providing Montréal International will help attract foreign investments that support the leading sectors driving Montréal’s economy, placing the green transition, aerospace, and life sciences at the heart of the organization’s efforts. Thanks to the vitality of these strategic sectors, both the city and the entire metropolitan region will benefit from these projects,” said Montréal Mayor Valérie Plante.
For Stéphane Paquet, President and CEO of Montréal International, this support demonstrates a concrete commitment from all stakeholders to fully capitalize on strategic foreign investments throughout the metropolitan area.
“Our expertise is well-established, and we are dedicated to leveraging it for the strategic ecosystems driving the Greater Montréal economy. With this support, we will be able to target foreign investments that address gaps in our strategic value chains, particularly in Montréal’s East End, where nearly 400,000 workers, 15 industrial parks, and many other significant assets are located,” said Mr. Paquet.
Over the past two years, Montréal International has facilitated the establishment or expansion of 11 foreign companies in the area, leading to investments of $522 million and the creation of 545 jobs.
The Government of Québec, through the Fonds Signature Métropole, administered by the Secrétariat à la région métropolitaine of the Ministry of Municipal Affairs and Housing, and the City of Montréal are each contributing $500,000, for a total contribution of $1 million.
About Montréal International
Montréal International is a non-profit organization funded by the private sector, the governments of Canada and Québec, the Montréal Metropolitan Community, and the City of Montréal. Its mandate is to attract and retain foreign investments (businesses and startups), international organizations, and international talent in the metropolitan region by offering tailored support services to meet their needs.