Regional Spotlight: Québec

As Canada’s largest province and its only Francophone-majority province, Québec is revered for its deep French culture, vibrant cities, lush forests and abundant waterways. The province is cherished by its 8.5M inhabitants for its exceptional quality of life, top educational institutions, sector-leading employment opportunities, and much more!

The region is likewise sought after globally; international businesses are attracted to Québec’s multilingual workforce, renewable energy sources, strong R&D commitment and friendly business environment.

 

Foreign Direct Investment (FDI) Attraction

Québec is a magnet for foreign investment, offering:

• An optimal location with access to 1.5B+ consumers, efficient logistics hub (20 commercial ports, 4 international airports and an integrated railway network), serving as a commercial gateway between America and Europe, and sharing 813-KM border with the United States.
• A leading, bilingual workforce, highly skilled in strategic sectors generated in part by 18 universities and 140 colleges across the province, and a strong, proven, commitment to R&D.
• Proven industry leadership in sectors such as AI, life sciences and health technologies, agrifood, cleantech and energy, aerospace, microelectronics, quantum, battery and electric transportation, cybersecurity and more.
• Competitive business cost, including renewable energy, lower operating costs and compelling government incentives geared towards innovation, energy transition, talent attraction, and more.
• Exceptional quality of life for employees and their families thanks to the lowest tuition fees in North America, affordable living costs, access to nature, vibrant cultural scene, and more.

 

“With its dynamic business environment and abundant strategic natural resources, Québec is a key international player. Its position as a hub between Europe and America, its green energy, creativity, capacity for innovation, and stability make it a vital location to build a cleaner and brighter future, where living and doing business are equally possible.”

– Hubert Bolduc, President of Investissement Québec International

 

FDI in action: 

Global technology leader, Zurich-based Hitachi Energy, selected Québec for a state-of-the-art HVDC simulation centre and power transformer factory. Located in Varennes, a suburb of Montréal, this facility is Hitachi Energy’s premier manufacturing hub for large power transformers in North America. It serves utility-scale renewable energy projects at the national and regional levels.

Backed by over $140M in funding from Canadian federal government incentives and Québec government programs, the facility and ensuing upgrades will increase global transformer manufacturing capacity in support of electrification efforts and Canada’s net-zero targets. Hitachi Energy’s Canadian project supports the key technologies required to enable a stronger, greener and more sustainable future for Canada. The facility also plays an integral role in expanding North America’s electricity capacity, and currently employs more than 1,100 employees nationwide.

 

“Québec offers a compelling, holistic business destination for companies seeking to establish their next major project. Québec’s expansive geography facilitates access to a significant customer base, its diverse topography holds valuable natural resources and clean energy opportunity, and its skilled workforce delivers on bilingualism, innovation and authority in hot industries such as technology, AI, aerospace, EV supply chain, life sciences, and more.” – Invest in Canada CEO, Laurel Broten 

 

FDI Impact

Québec and its residents have benefited greatly from FDI and resulting downstream projects. The region has experienced an influx of high-quality jobs, supply chain ripples, enhanced R&D and innovative cleantech projects.

From 2013 to 2023, the province attracted 3,150 FDI projects, with a total estimated $195.9B CAPEX. Of these, greenfield projects alone created an estimated 61,257 jobs. These projects also helped nurture more than 600 start-up companies and 180 greenfield research and development investments.
Statistics source: fDi Markets and PitchBook, Data Retrieved August 6, 2024.

Significant cleantech projects have further boosted the local economy and solidified Québec’s leadership in renewable energy and battery manufacturing. These include Volta Energy Solutions’ copper foil manufacturing facility (260 jobs), EcoPro CAM Canada’s battery materials production plant (345 jobs) and GM and POSCO Future M’s Ultium Cam joint venture and cathode active materials manufacturing facility (200 jobs).

 

Partner Spotlight

A catalyst for success and a preferred partner for Québec and international businesses, Investissement Québec drives innovation, promotes entrepreneurship, and stimulates investment and export growth.

Their experienced team is the main point of contact for international companies wishing to set up and grow in Québec, supporting them in achieving new heights of success.

Montréal International is a non-profit organization funded by the private sector, the governments of Canada and Québec, the Communauté métropolitaine de Montréal and the City of Montréal. Its mandate is to attract and retain foreign investment (companies and startups), international organizations and qualified talent to Greater Montréal by providing support services tailored to their needs.

Québec International’s mission is to support the economic development of the Québec region and its national and international reach. The organization facilitates and supports the growth of businesses and helps them thrive in Québec, Canada, and across the world, all with a focus on sustainability and diversity.

Investment attraction and promotion is also supported by local economic development partners, including Promotion Saguenay, Drummond économique, ID Gatineau, Technum Québec and Distriq Zone d'Innovation Quantique.

Invest in Canada works with global businesses to discover Quebec’s competitive edge, to facilitate introductions to regional partners and government stakeholders, and to understand available incentives to make an informed investment decision.