Governments and major economic players have put in place a range of incentives, such as interest-free loans, repayable and non-repayable contributions, and venture capital funds, in an effort to encourage:
- Impactful investment projects, i.e., projects that are likely to have an impact on the local economy. For example, Hydro-Québec, a public power utility, can offer an initial 20% discount on its rates, while Investissement Québec’s ESSOR program supports major job-creating projects.
- Innovative projects, like feasibility studies, collaborative research or industrial research. For example, the Strategic Innovation Fund can provide assistance that covers up to 50% of eligible costs for investments of at least $10 million.
- Workforce development, with programs that cover, for example:
- 25% of the cost of implementing training programs
- 50% of the cost of creating a human resources department
In addition to financial support, tax incentives are also available to businesses in various sectors to help them cut their operating costs. Contact Montréal International to find out for which programs you qualify and have our experts help you navigate the application process.