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Despite its Old Europe charm, the Quebec City metropolitan region is resolutely forward-looking in its embrace of cooperation and optimism. Residents dream of high-speed rail links, major international cultural and social events and the Olympic Games and theyre doing everything they can to make these dreams a reality! Every day, the business community works to strengthen its role in key international sectors such as architecture and green buildings, insurance and financial services, biopharmaceuticals, multimedia, nutraceuticals, optics and photonics, natural health products and medical technology. Serving as a catalyst for major scientific and technological advances, the region is known for its daring approach and for promoting the best ideas, especially when theyre aimed at furthering progress and reconfiguring global markets. After all, the future depends on innovation! So does the Quebec City metropolitan region have the means to realize its ambitions? The simple answer is YES, as borne out by the key economic indicators!
#1 City for quality of life in North America Foreign Direct Investment Magazine (fDi), 2007
*Among comparably-sized cities studied.
Quartier Saint-Roch, Quebec City
This sense of confidence is reinforced by the regions numerous selling points: a booming economy, ultra-low start-up and operating costs, outstanding quality of life, one of the best educated workforces in North America and a remarkable pool of researchers and specialized workers. In short, Quebec City offers ideal conditions for investors and a whole lot more! According to a number of prestigious organizations, the Quebec City metropolitan region is one of North Americas most attractive locations. The tables and figures presented throughout this document compare the Quebec City metropolitan region with North American metropolitan regions with at least one million inhabitants (not including Winnipeg). In economic and other terms, all of these regions are comparable with Quebec City. They were selected on the basis of their partnership links with Quebec City, competitive advantages and R&D momentum. I now invite you to discover the Quebec City metropolitan region and its various attractions and activities. I wouldnt be at all surprised if, after reading this publication, you were tempted to learn more about our regions storied history and dedication to success. And wed be happy to meet you and work with you on the development and delivery of your projects.
Quebec City
Raleigh Salt Lake City Edmonton Hartford Ottawa Calgary Milwaukee Nashville Indianapolis Columbus Cleveland Cincinnati Vancouver Denver Baltimore St-Louis Seattle Montreal Boston Toronto Philadelphia 1 500 000 2 000 000 2 500 000 3 000 000 3 500 000 4 500 000 1 000 000 4 000 000 500 000 0
Vancouver Seattle
Edmonton
Calgary
Winnipeg
Toronto Boston Milwaukee Hartford Cleveland Colombus Philadelphie Indianapolis Cincinnati Baltimore St-Louis Nashville Raleigh
Montral Ottawa
Quebec City
5 000 000
5 500 000
6 000 000
You may have dreamed of moving to a place that has the attributes of a major city without the disadvantages caused by overpopulation or pollution. You may have dreamed of living in an urban setting located in the heart of nature. You may also have dreamed of leading a European lifestyle while benefiting from a North American dynamic. Its nice to dream but if you ever wanted to bring your dreams to life, you could always make the Quebec City metropolitan region your home!
Overview
Known for its breathtaking beauty, the Quebec City metropolitan region has experienced record growth in recent years. Resolutely focused on 21st century solutions, the region has capitalized on the rise of information technology and communications by diversifying its economy and developing sectors of excellence, thereby garnering itself a leading role on the world stage. The Quebec City metropolitan region is home to one of the highest concentrations of researchers and research facilities in Canada and the US Northeast. This intellectual capital serves to foster creativity and develop cutting-edge industrial sectors throughout the region, attracting growing numbers of specialized workers and innovative firms. Buoyed by this economic vitality, companies across the region are prospering in the cut-throat global economy by embracing innovation. And their presence in Quebec City often gives them a competitive advantage over their rivals:
Open-minded, tolerant, dynamic and creative, the Quebec City metropolitan region also boasts unbeatable quality of life. Growing numbers of immigrants, workers and businesses are forging their futures in Quebec City.
3,0 2,5
115 110 105 100 95 90 2002 2003 2004 2005 2006 CPI (r) 2007 2008 2009
The Quebec City region has one of the largest pools of creative workers in Canada; The region has some of the lowest start-up and operating costs in North America. Rental costs in the Quebec City metropolitan region are much lower than in other Canadian metropolitan regions, despite the significant rise in the Canadian dollar;
Canadas banking system is the most solid in the world .1 Investments are protected, while tax rates on corporate income are low;
The cost of living in the Quebec City metropolitan region is low. Housing prices are very competitive, while the region has one of the lowest inflation rates in the country.
Economy
In North American terms, Quebec City is one of the most dynamic, cutting-edge and economically attractive metropolitan regions, maintaining its leading position year after year. The Quebec City metropolitan region is Canadas seventh largest census metropolitan area (CMA 2 ), although its extraordinary economic vitality often propels it into the top ranks of Canadas major cities.
Average annual real GDP growth per capita between 2003 and 2008 (%)
As the seat of the provincial government, Quebec City is home to a large number of civil servants, while workers in the thriving insurance and financial services sectors also bolster economic stability, in addition to protecting against global economic fluctuations. In addition, the rate of gross domestic product growth in the Quebec City metropolitan region is one of the highest in Canada. Between 2003 and 2008, regional GDP rose by nearly 2% annually. In terms of GDP growth, the region ranks first in Eastern Canada.
Quebec City
Vancouver Baltimore Calgary Milwaukee Ottawa Nashville Philadelphia Montreal Toronto Denver Cleveland Raleigh St-Louis Indianapolis Columbus Cincinnati -0,3 0,0 0,3 0,6 0,9 1,2 1,5
1,8
2,1
2,4
2,7
Sources: Conference Board of Canada, U.S. Bureau of Economic Analysis and Qubec International
We are pleased to be contributing to the economic and technological development of the Quebec City metropolitan region by establishing our production and R&D operations here. Featuring state-of-the-art technology, our new facility in Quebec City is where our polymerase chain reaction-based in vitro diagnostic products such as BD GeneOhmTM are manufactured. This is a major achievement for us, and we couldnt have made it happen without your assistance. Ernie Ritchey Director of Operations in charge of BD Diagnostics-GeneOhms facility in Quebec City
Luxigon
The Quebec City metropolitan region has capitalized on the rise of technology by embracing economic diversification and key sectors of excellence and establishing a firm foothold in the knowledge economy. Insurance and financial services, architecture and green buildings, biopharmaceuticals, multimedia, nutraceuticals, optics and photonics, natural beauty products and medical technology have all performed well and made key contributions to regional economic performance in terms of job creation and production growth.
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Statistics Canada, Labour Force Survey, 2009 and 2008 Comparative Economic Analysis, Quebec City Metropolitan Region, Conference Board of Canada, 2009. 2008 Comparative Economic Analysis, Quebec City Metropolitan Region, Conference Board of Canada, 2009. Driving services: Finance and Insurance, Professional, Scientific and Technical Services, Administrative Services, Information industry and Wholesale Trade. Household services: Retail Trade, Transportation and Wharehousing, Cultural Industry, Accomodation and Food Services and Other Services.
International architectural competition winning project of the Muse national des beaux-arts du Qubec.
Major investment and infrastructure projects: record number of building permits issued in Quebec City in 2009
Construction cranes and jackhammers will continue to be prominent features of the local landscape in 2010 as new transportation infrastructure is developed and major industrial and commercial projects are launched. Governments at all levels will be investing in the region by undertaking initiatives aimed at upgrading educational facilities, building new research laboratories in the health sector and developing new sports and recreation facilities. Investments totalling nearly $11.3 billion have been announced or are underway.
IPC (d)
7 Comparative Economic Portrait 2008, Quebec City Metropolitan Region, Conference Board of Canada, 2009.
Well educated and creative, the residents of the Quebec City metropolitan region thrive on groundbreaking projects and new ideas. Thanks to the vibrant local community and regional economy, immigrants continue to flock to Quebec City, fuelling demographic growth. Thanks to the presence of major universities in the region, a highly qualified workforce is available and ready to take on a full role in the creation of innovative companies and other aspects of community development.
#1 In Canada in terms of number of university students #1 In Canada in terms of the number of graduate students (masters/doctoral level)
Camirand Photo
Well-educated population
One of the most striking things about the Quebec City metropolitan region is the proportion of people in their 20s: more than in any other part of Quebec or Canada!8 Approximately 14.1% of the local population is in the 20 to 29-year-old age group, compared with the provincial average of 12.8% and the Canadian average of 12.9%. Another striking thing about the region: 90% of people of working age have at least a high-school diploma. As a percentage of the total population, Quebec City ranks just behind Boston in terms of the number of university students! In North American terms, the Quebec City metropolitan region has one of the highest concentrations of university students, with a larger proportion of graduate students than in any other major Canadian city.
Hartford Columbus Boston St-Louis Philadelphia Raleigh Cincinnati Baltimore Vancouver
Population aged 25 to 64 with at least a high school diploma or equivalent (% of population aged 25 to 64)
Quebec City
Ottawa Tampa Calgary Denver Toronto Richmond San Diego Edmonton Montreal Winnipeg 82 83 84 85 86
87
88
89
90
91
92
Sources : Statistique Canada; U.S. Department of Education, Institute for Education Sciences, National Center for Education Statistic Integrated Postsecondary Education Data System (IPEDS); U.S. Census Bureau
Quebec City
Winnipeg Ottawa Montreal Columbus Hartford San Diego Philadelphia St-Louis Cincinnati Baltimore Richmond Edmonton Raleigh Vancouver Toronto Tampa Calgary Denver 2.0 2.5 3.0 3.5 4.0 4.5
Quebec City
San Diego Hartford Philadelphia Montreal Denver Ottawa Richmond Columbus Raleigh Cincinnati Edmonton Vancouver Winnipeg Calgary Tampa Toronto 6.0 0.0 0.2 0.4 0.6 0.8 1.0 1.2
5.0
5.5
1.4
1.6
1.8
2.0
Sources : Statistique Canada; U.S. Department of Education, U.S. Census Bureau and SECOR
Sources : Statistique Canada; U.S. Department of Education, U.S. Census Bureau and SECOR
Ville de Qubec
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Jardins Saint-Roch
Ville de Qubec
Universit du Qubec
Immigration growth
The Quebec City metropolitan region has seen a net increase in both international and internal migration since 2001. This is no doubt due to the robust labour market, as well as to strong economic growth and diversification over the past 20 years. Most of these new residents came from other regions of Quebec or from elsewhere in Canada, according to Statistics Canadas 2006 census.
In addition, Quebec City attracted more immigrants from 2001 to 2006, with that period accounting for 34% of the total current immigrant population. And its very likely that most of these new immigrants will stay: the immigration retention rate in the Quebec City metropolitan region is nearly 85%, as opposed to 80% in Canada as a whole. A regional international recruitment portal has been established to ensure that the region benefits from foreign workers expertise. www.1888mevoila.com
Creative workforce
In the globalized economy, urban prosperity hinges on the ability to attract and retain intellectual capital. In other words, Quebec Citys prosperity is a sure bet! According to a 2009 study by the Martin Prosperity Institute ,9 the Quebec City metropolitan region comes first in its category in terms of creativity. This ranking is based on three variables: talent, technology and tolerance. These variables were studied in 11 metropolitan regions of comparable size across North America, with the Quebec City metropolitan region easily outpacing the others:
#1 Technological pool (high technology jobs, number of patents and growth in the number of patents over a 5-year period) in North America #1 Pool of workers (ability to attract and retain talent and workers in the creative class) in North America #1 Openness and tolerance in North America
9 Prosperity Scorecard for Quebec City, Dr. Kevin Stolarick, Martin Prosperity Institute, Rothman School of Management, University of Toronto, June 2009.
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Technical schools The regional picture is completed by a variety of vocational secondary schools, technical
colleges and specialized institutes. Located in downtown Quebec City, the National School of Interactive Entertainment (ENDI) provides students with a unique opportunity to hone their video game skills in a simulated environment combining production techniques and a corporate immersion program. Moreover, the financial and insurance sector can count on the support of the Insurance and Financial Services Development Centre, which enables graduate students to acquire in-depth knowledge.
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10 Beginning with Edmund James Flynn, Conservative Party leader elected Quebec Premier in 1896, and continuing on through the Honourable Jean Chrtien, Liberal Party leader elected Canadian Prime Minister from 1993 to 2003, 11 Quebec and Canadian first ministers have received law degrees from Laval University.
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Nearly $800 million is invested in research and development in the Quebec City metropolitan region every year.11 But the human imagination will always be more powerful than money and there is a concentration of creativity in the Quebec City metropolitan region like nowhere else!
#3 Scientific publications
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Home to some 6,000 researchers and associates, the region has one of the highest concentrations of research centres in Canada, with nearly 400 labs, groups, consortiums, institutes and R&D centres. Among Canadian metropolitan regions, Quebec City has the highest proportion of university researchers and outpaces Canadas three largest cities (Montreal, Toronto and Vancouver) in terms of research funding and the number of scientific publications.
Winnipeg 10 12 14 16 18 20 22 24 26 28 30 32
11 Source from page 14: Quebec Ministry of Economic Development, Innovation and Export Trade (MDEIE).
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The large number of research centres and researchers in the Quebec City metropolitan region fosters the development of high-tech industries, including optics and photonics, green buildings, nutraceuticals, biopharmaceuticals, medical and environmental technologies
and natural health products. The following provides an overview of the regions main research centres:
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INRS - Water, Earth and Environment global environmental leader in the areas of water and geological resources
The regional outlook for water and geological resources is bright thanks to the efforts of researchers at National Institue of Scientific Researchs Water, Earth and Environment Centre (INRS-ETE). The Institutes scientific program focuses on four main areas: hydrology, environmental rehabilitation/waste recycling, aquatic/terrestrial biogeochemistry and geosciences. These areas face a number of common strategic issues, including risks surrounding extreme natural events or humangenerated contamination, the impact of climate change on resources, resource use and necessary adaptations, water/mineral resource management and related land use planning and rehabilitation/decontamination technologies for urban and natural environments.
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In a globalized economy, companies must compete with the emerging countries, including Brazil, China and India. Against that backdrop, business start-up and operating costs, payroll costs and rental costs can be key factors determining whether firms merely stay in the game or eventually rise to the top. In this regard, companies in the Quebec City metropolitan region enjoy a significant competitive advantage over their North American rivals.
Noted for its business focus, Quebec City is built on a human scale. Thanks to its compact size, we can rally community groups and decision makers around global issues more quickly and effectively than we can in any other metropolitan area in North America. Major employers get a fair hearing and receive immediate support and assistance from the authorities and economic development stakeholders. Dominic Brown CEO, Beenox (an Activision studio)
Ville de Qubec
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Generally speaking, it is much cheaper for companies to start up operations in the Quebec City metropolitan region than it is elsewhere in Canada or in the US. Over the past decade, the region has led the North American rankings in terms of low after-tax start-up and operating costs12 among cities in the same category. In 10 out of 18 economic sectors (biomedical R&D, clinical trials, pharmaceutical products, electronic system testing, web content developpement/multimedia, advanced software design, precision manufacturing, auto parts, metal machining and food processing), overall business operating costs are much lower in the Quebec City metropolitan region than they are on average in comparable US cities. R&D companies in the Quebec City metropolitan region benefit from 20% to 27% lower start-up and operating costs, while firms specializing in Web content, multimedia and high-tech software enjoy a comparative advantage of 20% to 22% in this regard.
12 Competitive Alternatives, KPMG 2010.
Fumoir Grizzly
100
102
Sources : KPMG and Qubec International Note : Average for U.S. cities = 100.
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Quebec City's cost advantage (%) compared with the average for U.S. cities, by industry, 2010
Electronic Systems Testing Web Content Development/Multimedia Advanced Software Biomedical R&D Shared Service Centre Oil and Gas Equipment Medical Device Manufacturing Pharmaceutical Products Telecom Equipment Electronic Components Metal Machining Specialty Chemicals Aircraft Parts Auto Parts Precision Components Food Processing Plastic Products 0 5 10 15 20 25 30
45
50
55
Sources : Groupe Altus and CB Richard Ellis Note: Exchange rate used: US$1 = CA$1.07
20
Sources: Economic Research Institute and Qubec International Note: Exchange rate used: US$1 = CA$1.04 (1st quarter 2010)
Quebec City has proved to be an ideal location for us because it has everything you need to be highly competitive in the business world : a qualified and stable workforce, not only for research but also for vaccine manufacturing ; a variety of stimulating tax incentives and low business start-up and operating cost. Paul Lucas, President and CEO, GlaxoSmithKline Canada
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Canadas political, economic and cultural stability are the envy of the world. Thanks to rigorous regulation and monitoring, the national banking system is known for its solidity and transparency, while investments are also protected. As one of North Americas oldest parliamentary democracies, the province of Quebec is also known for its political and economic stability. Together with the Canadian government, the Quebec government seeks to foster business development by reducing the corporate tax burden as much as possible. In this pro-investment and pro-development environment, the Quebec City metropolitan region is particularly attractive to businesses. The evidence is on display in KPMGs 2010 Competitive Alternatives study, which named Quebec City the best place to do businessin Canada and the US among cities of 500,000 to 1.5 million inhabitants!
Business environment
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Investor protection
As regards investor protection, Canadas banking system is in the worldwide Top Five.15 In particular, investors are protected by financial reporting by hedge funds and by information disclosures concerning investment products tied to hedge funds.
Quebec City
Montreal Winnipeg Calgary Edmonton Vancouver Toronto Ottawa Seattle Baltimore Hartford Denver Tampa Nashville Raleigh St-Louis Philadelphia Indianapolis Boston San Diego
0,0
4,0
8,0
12,0
16,0
20,0
24,0
28,0
32,0
Sources : Competitive Alternatives, Special Report: Focus on Tax, KPMG 2010 and Qubec International Note : Exchange rate is US$1 =CA$1.06
13 14 15 16 17
According to the Global Competitiveness Report 2009-2010, produced by the World Economic Forum. According to the Global Competitiveness Report 2009-2010. Rating of 8.3, according to the Global Competitiveness Report 2009-2010. According to Doing business 2010, produced by The World Bank Group. Competitive Alternatives, Special Report: Focus on Tax, KPMG 2010.
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Sources: Competitive Alternatives, Special Report: Focus on Tax, KPMG 2010 and Qubec International
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Sources : Invest Quebec and Qubec International Note: Exchange rate is US$1 =CA$1.04 (1Q10)
Andr Chamorel
Sources : Invest Quebec and Qubec International Note: Exchange rate is US$1 =CA$1.04 (1Q10)
Fontaine de Tourny
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Life sciences - Biopharmaceuticals - Medical technology - Natural health products Information and communication technologies (ICT) and electronics - Multimedia creation - Optics and photonics - Geomatics and geospatial technology - Security, defence and emergency preparedness Food processing - Health foods Transportation and materials - Plastics and composite materials - Wood processing - Metal products - Transportation material
Ultra-modern infrastructure
Extending from central Quebec to the US border, the Quebec City metropolitan region boasts ultra-modern high-performance infrastructure forming a world-class intermodal network. In just a few years, Quebec City should be connected to other major North American urban areas by a high-speed train link. A related project is currently under consideration and garnering support from a growing number of Canadian and US officials.
Air transportation
Located just 20 minutes from downtown Quebec City, Jean Lesage International Airport continues to pursue the path of modernization. Since 2008, operations have expanded steadily, with four new carriers and new destinations: indeed, it was one of the few Canadian airports to record a traffic increase in 2008-2009 in the middle of the global economic downturn! In 2010, Jean Lesage International Airport will offer connections to more than 250 cities around the world, with non-stop service to 29 cities including Toronto, New York, Washington, Chicago, Cleveland, Detroit, Bordeaux, Marseille and Paris.
Telecommunications
In 2012, Canadas first large-scale fibre-optic network will be rolled out. All told, $225 million will be invested in this broadband technology project. In this regard, the Quebec City metropolitan region, together with Boston and San Francisco, can be described as breaking new ground in terms of digital connectivity and competitiveness.
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Maritime transportation
Located 400 miles from the Atlantic coast, the Port of Quebec City is the gateway of choice to the Great Lakes and the US Midwest. In addition to being a deepwater port, it is open year-round. Thanks to its strategic geographic location, it links North Americas industrial heartland with the rest of the world. Thanks to its state-ofthe-art facilities, it can accommodate vessels of up to 150,000 tons. It also has solid bulk terminals for nickel, ore, grains and fertilizer. Nearly 27 million tons of cargo moves through the port each year.
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Unbeatable lifestyle
With all the amenities of a major urban centre, Quebec City remains in harmony with its spectacular natural environment. As a result, it is recognized as one of the greenest cities in Canada: a businessfocused city where the lifestyle and air quality are unbeatable!
Camirand Photo
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Camirand Photo
Camirand Photo
The region is covered by forests, making up over 55% of the land area. In addition to various bodies of fresh water, Quebec City boasts parks, green spaces, woodlands, tree-lined avenues and other green spaces. The urban forest is one of the centrepieces of Quebec Citys green heritage. Admired for its outstanding architecture and natural beauty, Quebec City is one of the worlds top tourist destinations, ranked number three in the Worlds Best Awards (Travel + Leisure, 2009) and number six in the list of best tourist destinations 18 in North America (Cond Nast Traveler Magazine, 2009).
Quebec City is also one of the safest places in North America, with a crime rate of less than 5% one of the lowest in Canada. And the kids can rest easy: Quebec City is the safest Canadian city for children.20 Growing up is also easier since children enjoy free access to the healthcare and public education systems (kindergarten to college). Moreover, fees at Quebec universities are among the lowest in North America. The Quebec City metropolitan region also stands out in terms of its highly competitive housing prices.
Power of attraction
In addition to being a hub for technological and scientific innovation, Quebec City is a university centre, as well as one of the most promising business locations in North America. The entire region is attracting growing numbers of multinationals seeking to lower their operating costs and secure the loyalties of a mobile workforce increasingly attuned to environmental and other quality-of-life issues.
Ville de Qubec
18 #3 Worlds Best Awards Travel + Leisure, 2009 / #6 Best Tourist Destinations in North America Cond Nast Traveler Magazine, 2009. 19 #1 quality of life in North America, Foreign Direct Investment Magazine (fDi), 2007 20 Child and Youth Victims of Police-reported Violent Crime, 2008, Statistics Canada 2010.
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800
900
1 000
Sources: Canadian Real Estate Association, Quebec Federation of Real Estate Boards and Qubec International
Sources: Canada Mortgage and Housing Corporation and Qubec International Note: Privately initiated rental apartment structures of three units or more
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Camirand Photo
Qubec International
Founded in 2003, Qubec International plays a key role aimed at enhancing the international standing of the Quebec City metropolitan region. Our mandate involves promoting the regions competitive business environment, attracting foreign investment and qualified foreign workers, supporting marketing initiatives, developing external markets and boosting business competitiveness and cluster development by fostering innovation and securing access to financing sources.
We would be pleased to assist you with your start-up or expansion projects. Our service offer includes: Providing advice and information on the region, including local economic conditions, infrastructure, demographic trends, key sectors, business opportunities and major sector initiatives. Facilitating contacts with municipal, provincial and federal authorities, representatives of public utilities and legal, tax and accounting experts.
Providing information on financing sources and tax benefits. Providing up-to-date information on operating costs, market studies and patents. Drawing up lists of potential locations and arranging site visits. Providing support in identifying potential partners (businesses, research centres and training facilities). Providing support in recruiting, training and integrating qualified foreign workers. Providing appropriate post-relocation follow-up.
One of the most important things that any entrepreneur needs is a strong network of contacts. When Picomole was considering a move to Quebec City, Qubec International played a vital role in helping us break down barriers and see the many advantages of such a move. Since our move, the team at Qubec International has been generous and enthusiastic in helping us get established and noticed in our adopted community. We commend the team at Qubec International for their knowledge and dedication, but most of all for their willingness to freely share their networks with us. This, more than anything, has helped us to make impressive progress since our arrival. John Cormier, PhD, Founder and CEO, Picomole Instruments Inc.
CONTACT INFORMATION
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