A Life Sciences Strategy that focuses on foreign direct investments

Québec Life Sciences Strategy

MONTRÉAL INTERNATIONAL WELCOMES AMBITIOUS STRATEGY TO ATTRACT INVESTMENTS

Montréal, May 5, 2017 – Montréal International welcomes the new Québec Life Sciences Strategy announced today and expected to raise Québec’s ranking to the 5th life sciences hub in North America. The strategy focuses on attracting $4 billion in private investments by 2022.

“It’s an ambitious strategy in line with Montréal International’s actions and priorities, and shows that the Government of Québec is firmly committed to making life sciences and health technologies (LSHT) a key sector of Québec’s economy,” said Hubert Bolduc, President and CEO of Montréal International. “The proposed initiatives will better target innovative and manufacturing sectors, including biomanufacturing, and provide greater support to international corporations seeking partnerships and investment opportunities. Moreover, implementing a collaborative unit, including key economic development agencies such as Montréal International, to attract life sciences investments will make Québec more strategic, agile and effective in its efforts abroad to promote and attract investments to the region,” added Mr. Bolduc.

« LSHT is one of the sectors that received the most foreign investments these past few years in Montréal. »

In 2016 alone, Montréal International provided support to projects amounting to $100 million in investments in the city. »

“Greater Montréal is already well-positioned and one of the most competitive cities when it comes to attracting foreign direct investments. We hope this strategy will make the region even more attractive to the life sciences and health technologies sector, and better promote business opportunities to multinational corporations,” said Christelle Fasano, Director, Business Development, LSHT, at Montréal International. “Greater Montréal’s strong potential for innovation, business agility and available skilled workers make it a North American centre of excellence,” added Ms. Fasano.

The LSHT industry in Greater Montréal:

  • More than 40,000 jobs in over 600 organizations, accounting for 80% of LSHT jobs in Québec
  • Ranked 7th among top 20 North American cities in terms of concentration of LSHT jobs
  • 27,000 students in LSHT programs
  • Top city for research partnerships in Canada: $958 million invested between 2011 and 2015
  • Ranked 1st among North American cities for most competitive LSHT operating costs: 24% cost advantage
  • Ranked 6th among North American cities for foreign investment in LSHT between 2011 and 2015

À propos de Montréal International (www.montrealinternational.com)

Créé en 1996, Montréal International (MI) est un organisme sans but lucratif financé par le secteur privé, les gouvernements du Québec et du Canada, la Communauté métropolitaine de Montréal et la Ville de Montréal. MI a comme mandat d’attirer dans la région métropolitaine des investissements étrangers, des organisations internationales et des travailleurs qualifiés.

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