Quebec's Economy

In terms of economy, Québec:
- Ranks among the industrialized regions on the leading edge of technology

- Is an international leader in aerospace, biopharmaceutical products, information technology and telecommunications, hydroelectricity and metallurgy

- Has adopted an industrial strategy that focuses on developing advanced techniques and technology, and industrial sectors that are competitive in world markets

- Exports near 40% of its gross domestic product (1999)

- Had an economic growth rate of 3.8% in 1999; according to estimates made by some private organizations, this growth rate would be of 3.8 % in 2000 and 2.7 % in 2001

- Benefits from the stability of the Canadian dollar against the American dollar, compared to other major currencies.

Québec has all the ingredients: one of the world's most extensive shipping networks, a sophisticated telecommunications infrastructure, and all sorts of companies that specialize in the transportation and distribution of goods. Québec’s diversified, dynamic industrial structure is highly progressive, readily responding to world economic trends.

The exchange rate between the U.S. and Canadian dollars is more stable than most other foreign currency rates. This stability and the strong track record of the dollar over time are definite pluses for companies established in Québec, placing their exports to the United States in a strong competitive position.

Québec Exports Products and Services Around the World . . .
In 1999, Québec’s exports of goods increased by 7.7 % to reach $62.0 billion, or 55% of its manufacturing shipments.

Twenty-five per cent of exported goods are value-added products made in Québec, such as: telecommunications equipment, aircraft and aircraft engines, automobile, software, and office equipment.

Foreign Investments in Québec . . .
Over 1,200 companies from around the world, many with major international mandates, conduct business in Québec.

From 1990 to 1999, Québec received $22 billion in direct investment

Québec has an open economy, which has always welcomed international investment.

Quebec's Resources

One of the world's top transportation networks . . .

Maritime Shipping
The St. Lawrence River is Europe's main point of entry to the American continent. Ten Québec harbors are open year-round, with nearly 40 waterways leading to over 200 seaport facilities around the world.

The Port of Montreal
- Canada’s prime port for containerized shipments;
- One of the major ports on the East Coast, ranking sixth in North America;
- An average of 20 million tons of goods passes through the Port every year.

The Port of Québec
- North America's closest port to Europe
- Accommodates high-tonnage ships.

Air Shipments
- Québec has three international airports: Dorval , Mirabel and Québec (in Québec City), plus 85 regional and local airports.
- About 45 direct flight air carrier serve 140 destinations every week from Dorval and Mirabel airports in Montréal.
- Landing rights for cargo flights are 75% to 85% lower in Montréal than New York, Boston, or Toronto.- Quebec offers air freight services with guaranteed just-in-time delivery to the four corners of the world.

Rail Shipments
- The railroad network, the heart of an efficient intermodal transportation system, offers daily high-speed containerized runs connecting Montréal to Toronto, Vancouver, Detroit, Chicago, New York, and Philadelphia through a network of 36 specialized intermodal terminals.

Trucking
- Nearly 43,000 miles of roads crisscross Québec en route to other parts of Canada and the United States.

In value, 66 % of all exports from Québec to the United States via the highway system. And it is no wonder that in the Montréal area alone, more than 25,000 trucks are used for commercial purposes.

Thanks to North American deregulation, trucking rate are truly competitive.

State-of-the-art telecommunications network technology . . .
- A range of satellite and cellular networks ensure reliable data transfer to expedite follow-up on goods during shipping and speedy customs clearance on arrival.
- Montréal is Canada's telecommunications center with world-class telecommunications infrastructures. All overseas telecommunications are handled here at the Bell Canada and Teleglobe Canada network monitoring centers.

Specialty services . . .
Many specialized companies offer efficient services at competitive rates for each step in the transportation and distribution system.

- Customs brokers;
- Insurance brokers and financial consultants;
- Trading houses;
- Forwarding agents;
- Logistics service firms.

Labor Costs
According to KPMG studies conducted in 1999, labor costs in Québec are 31% lower than in the United States.

Québec offers an abundant workforce at extremely competitive rates - professional, technical, or production staff alike.

Many studies show that labor costs in Québec are well below those in the United States, particularly employers’ contributions to employee benefits. Contributions to national retirement plans, unemployment and health insurance, additional private health insurance plans, and life and retirement insurance, are higher in the United States than in Québec.

The low turnover rate of specialized workers in Québec is a significant competitive advantage in terms of operating costs, compared to the United States with its extremely mobile workforce.

In Québec, all forms of energy are plentiful, reliable, and available at a competitive price. Québec electricity rates are among the lowest in the world.

Electricity Rates
Natural gas is available in most regions of Québec, at reasonable rates, which can be negotiated with Gaz Métropolitain, the largest supplier of natural gas in Québec. Some brokers also offer long-term (20 years) contracts at lower rates.

Natural Gas Rates
According to KPMG, construction costs for industrial buildings in Québec are some of the lowest in North America and Europe.

According to Colliers International, office space costs less to rent in Québec than in most other parts of the world.

Québec has one of North America's most advantageous corporate taxation structures. Low income tax rates works to the advantage of dynamic companies with steadily rising profits.

In Québec, consumption taxes are paid not by the company, but by the end consumer of goods and services.

Consumption taxes
Québec businesses benefit from a very favorable consumption tax system. Unlike the system currently in place in most American states and other Canadian provinces, the Québec system means that companies do not have the shoulder the tax burden for purchases made in the course of commercial activities.

- Goods and services Tax (GST)
The Canadian GST is similar to the value-added tax (VAT) in European Union member countries. A company collects the GST from its customers, 7% of the selling price for the product or service. However, company generally get a refund or credit for GST paid on the purchase of goods or services used in their business activities.

- Québec sales tax (QST)
The QST - 7.5% applies to selling prices, GST included. As with the GST, firms can usually get a refund for QST paid on their purchases.

To simplify the administration of the consumption taxes, Québec was the first province to coordinate its sales tax with the federal GST. Québec companies have only one level of government to deal when it comes to consumption taxes.

An Environment that Promotes Investment . . .
- A foreign investor can operate a company in Québec exactly the same way as a Québec entrepreneur - as sole proprietor, associate in a general partnership, or shareholder in a limited liability company.

- The investor may also directly operate a company in Québec simply by establishing a branch office.

- The Canadian and Québec tax systems give tax credits for foreign taxes paid, to avoid double taxation.

- In most cases, the Canadian government imposes no restrictions on foreign investors.

Financial sector
The Québec financial sector is a major catalyst for economic growth. In addition to this primary role, it makes a substantial contribution through the number of jobs it creates. In May 2000, there were 182,600 jobs directly related to the financial, insurance and real-estate business.

Québec operates a full training program in the areas of regulation, surveillance, and compensation.

The stability, growth and competitive edge of financial institutions are secured by:

- Comprehensive legislation that governs financial institutions and market intermediaries under Québec jurisdiction (savings and loan banks, trust companies, personal and damage insurers, as well as active market intermediaries in both insurance and transferable securities);
- Control and surveillance structures such as the Inspecteur général des institutions financières (in French) (IGIF), the Commission des valeurs mobilières du Québec (CVMQ), the Montréal Exchange and various self-regulating organizations found in the market intermediaries sector;
- A deposit compensation system that intervenes in the event of bankruptcies of deposit institutions - a private system compared to compensation in other sectors.

Highly Skilled Workers
With an innovative manufacturing sector, a dynamic service industry, and many academic institutions, Québec provides a guaranteed pool of qualified workers. Québec workers have a well-earned reputation for ingenuity, expertise, stability, and productivity.

Bilingualism and multilingualism
Québec has Canada's largest bilingual pool of workers.

In Québec, multilingualism is a fact of everyday life. Some 80 languages are spoken in Québec, including Spanish, Italian, Greek, Arabic, German, and Chinese.

Venture capital
Québec is the Canadian leader when it comes to venture capital. More than 52 % or $6.3 billion of all the venture capital in Canada which is valued at $12 billion, comes from funds managed in Québec by private and public venture capital companies.

Quebec's Major Industries

Forest Products
With its vast forests – 2% of the world’s forest reserves – and its strategic geographic location, which makes it a central crossroads in the world marketplace, Québec is a prime location for the forest products industry.

The Québec forest products industry in facts and figures (1998):

- $17.7 billion worth of shipments
- $10.8 billion worth of exports
- $1.1 billion in investments
- 88,000 direct jobs.

When it comes to forest products, Québec enjoys many distinct advantages, including:
- Abundant, renewable forest resources at competitive costs
The forests of Québec cover nearly 760,000 km2 and generate annual cutting capacity on the order of 55 million m3.

- A forestry management system centred on sustained yield and the protection of other resources in the forest environment (biodiversity)
More than 85% of the total volume of merchantable timber in Québec is found on public lands. The Québec forestry system guarantees wood processors stable supplies in keeping with the principles of sustainable development.

- A diversified network of suppliers and equipment manufacturers
Québec’s highly developed, diversified forest products industry has given rise to a vast network of established suppliers of goods and services, consulting firms of international calibre, and leading-edge equipment manufacturers.

The Québec forest products industry benefits from:
- Prime access to a market of 408 million consumers
- A stable, skilled workforce
- A taxation system that’s highly competitive when it comes to corporate taxation and tax measures for R&D
- A network of infrastructures designed to facilitate domestic communications and provide access to the whole wide world.

The Biopharmaceutical Industry

- The Québec biopharmaceutical industry in facts and figures:
- 163 companies and 12,800 jobs;
- 45% of total assets in the Canadian biopharmaceutical sector, which represent $146.3 million in 1998;
- $2.3 billion worth of shipments in 1997 - 49% of all Canadian shipments;
- $537.5 million of exports in 1998 - 36.7% growth over 1997;
- A local market of $2.9 billion in 1998 - 29.5% of the Canadian market;
- Approximately 5,000 research jobs in the health sector;
- $610 million in R&D in 1997-1998 - 43% of the Canadian biopharmaceutical industry's R&D;
- Nearly half of the Canadian biopharmaceutical industry is concentrated in the Montréal area;
- Most of the basic and clinical research activities in Canada take place in Québec.

- Numerous foreign investments
Since 1992, multinational companies have invested over one billion dollars in the Québec biopharmaceutical industry.

The strong presence of innovative companies in a hallmark of the Québec biopharmaceutical industry. These companies are major investors in R&D and manufacture many different products for the North American and international markets.

An interesting footnote: Québec clinical research companies derive 80% of revenues from contracts with American pharmaceutical companies.

- Intensive Research and Development Activities
Québec ranks among the Canadian leaders in terms of biopharmaceutical R&D carried out by private sector firms, having reached $319 million in expenditures in 1998, which represent 42.6% of the Canadian investments. The main basic research laboratories in the Canadian biopharmaceutical industry are located in the province.

In 1995-1996, universities have conducted medical research for $204 million, that is 34% of their total R&D.

All told, biomedical research in Québec occupies roughly 2,000 researchers in various centers, institutes or university groups, hospitals, and government or private-sector research centers. When graduate students and other categories of staff involved in research in these establishments are included, the number of jobs totals nearly 5,000.

Biotechnology
According to a recent study by Ernst & Young, Québec comes first in Canada and 10th in North America in terms of revenues generated by its biotechnological industry.

- The Québec biotechnology industry in facts and figures:
-86 firms in 1997, or 31% of all Canadian biotechnology companies.
-70% of enterprises located in the Montréal area.
-More than 3,000 jobs in 1998. Sales of $349 M in 1997, which represent 34% of Canadian sales.
-$141 M invested in R&D in 1997.
-Exports of $ 101 M in 1997.
-One of the largest «cGMP» rated fermentation units in North America thanks to the establishment of world leader DSM Biologics Inc. (in French).
-The world's largest research center specializing in biotechnology in the world, the Biotechnology Research Institute.

- Several factors explain the rapid growth of the Québec biotechnology industry:
-A qualified, stable and multi-talented workforce.
-A critical mass of international level researchers in the health sector.
-A dynamic biopharmaceutical industry
-Top-notch research units.
-Active cooperation between companies, research centers and universities, here in Québec and in the United States.
-Québec Taxation of R&D activities offers some of the world's most attractive incentives.
-Complete R&D facilities for biotechnological products and processes.
-Access to North American markets.
-Many companies active in venture capital firms.

The Québec biotechnology industry brings together innovative companies working in the field of:
-human and animal health
-agriculture, biofood and forestry as well as
-the environment

- Human and Animal Health

The most extensive applications of biotechnology in Québec are in the health sector, in large pharmaceutical companies and many smaller firms that specialize in R&D on new technologies and products.

Biofood
In Québec, research in this sector focuses on biopesticides, the production of plants with enhanced resistance to pathogenic bacteria and viruses, the development of new grain cultivators, the development of carriers for genetic manipulation of crops, and production of disease-free hybrid seeds.

- The bio-food industry is very important in the Québec economy. It represents:
- Over 400,000 jobs, i.e. slightly over one out of nine jobs;
- 9% of the Québec GDP;
- Almost 33,000 farms, mostly in dairy and meat production, representing sales of $4.8 billion;
- Over 23,000 wholesale/retail food outlets and restaurants accounting for $19.2 billion;
- Capital investments of $1.4 billion in 1998;
- 9% real growth over 1995-1998, a stronger growth rate than the overall Québec economy (6%);
- Growth of exports at an average annual rate of almost 16% since 1994;
- High demand export products: pork, beverages, cacao products (chocolate), dairy products, oilseeds and fruit and vegetables.

Food Processing
Food processing is among the principal manufacturing sectors in Québec in terms of jobs, ahead of the garment, transport material, paper, and electric and electronic products sectors.

- Outline of the food processing industry:
- 900 food processing companies;
- Shipments of over $13.7 billion, 25.5% of the Canadian volume;
- Exports of $2.1 billion, growing steadily at a rate of 1% every year for the last five years;
- Major markets: United States (67%) and Europe (10%);
- Research expenditures evaluated at $178 million.

Environment
In Québec, major strides have been made in the areas of organic fertilizers, biopesticides and the treatment of contaminated soils.

- Biogénie and Serrener have developed expertise in the organic restoration of contaminated sites.
- Premier Tech produces organic filters.
- SNC-Lavalin, one of the world's largest consulting engineering companies, has developed anaerobic treatment processes for dairy waste products.
- Sodexen is a laboratory for specialized analysis.

Aerospace
On the leading edge of technology and well positioned in growth markets, Québec's aerospace industry is recognized around the world. Québec is both known as a center for manufacturing and product development.

QUÉBEC : LEADER IN CANADA
-55% of Canadian production with over $8 billion in sales in 1999;
-75% of shipments are exported;
-53% of Canadian manpower, i.e. 40,000 jobs (with an annual growth of 1,000 to 1,500 jobs);
-70% of Canadian expenditures on R&D ($500 million in 1998);
-over 250 companies.

QUÉBEC : WORLD LEADER
-The Québec aerospace industry is the sixth in importance in the world;
-27% of the corporate aircraft market;
-over 40% of the world production of commercial helicopters;
-over 70% of the market for commercial flight simulators;
-60% of the world market for landing gear;
-46% of the market of 20 to 90 seat commercial aircraft, in number of units sold.

THE MONTRÉAL REGION
-3rd world center after Toulouse and Seattle for the number of jobs;
-the only place in the world where all the components required to build an airplane are manufactured;
-1 out of 200 inhabitants works for the aerospace industry.

A GROWTH SECTOR

Profitability and growth are the driving factors of the Québec aerospace industry. Québec aerospace has witnessed remarkable growth since the beginning of the 1980's thanks to the development of unique, best-of-breed products. In fact, Canada has experienced the strongest growth in the aerospace sector among G-8 countries over the last ten years (140% vs. 6% in the United States).

This extraordinary growth is due to :
- A well trained, flexible and stable manpower;
- Important investments in R&D supported by highly competitive fiscal incentives;
- A network of diversified companies that manufacture a range of innovative products;
- Production targeted to high growth civil aviation markets;
- Privileged access to the Canadian and American defense sectors.

The Québec aerospace industry is three tiered with prime contractors, sub-assembly manufacturers and subcontractors all well represented.

A network of over 240 subcontractors can meet the requirements of prime contractors and sub-assembly manufacturers alike.

Many of these companies have developed highly specialized niches with high scientific content which forms an excellent pool of suppliers in many key sectors of the aerospace industry : machining and welding, fast prototyping, surface treatment, electric and electronic systems, and composite materials. There are many specialized SMEs: melting, screw products, cutting tools, custom finishing, cabling.

- ON THE LOOKOUT FOR MAJOR INTERNATIONAL TRENDS

Many world renown products :
- The Bombardier/Aerospace Challenger, Regional Jet (CRJ), Global Express, and CL-215 and CL-415 water bombers;
- The Pratt & Whitney Canada PT-6, PW 100, JT 15D and PW 300 engines;
- CAE Electronics flight simulators and turnkey training programs

Current projects that will ensure continued growth :
- The Bell Helicopter Textron Bell 407 and Bell 427
- EMS Technologies and CAE Electronics are collaborating in the Freedom and Radarsat projects in different capacities
- The Bombardier Aerospace CRJ-900
- The Pratt & Whitney Canada PW 150 and regional jet engines

Living in Quebec

People
In Québec, multilingualism is a fact of everyday life. Some 80 languages are spoken in Québec, including Spanish, Italian, Greek, Arabic, German, and Chinese.

Climate
Québec has four distinct seasons: a mild spring, a hot and pleasant summer, a cool and colorful autumn, and a cold and snowy winter, perfect for all sorts of outdoor sports.

Accessible
Québec is a modern society combining an open market economy with one of the highest living standards in the world.

Québec Regions
Each of the 17 Québec regions has its own unique combination of infrastructure, resources, and know-how , so making Québec an ideal place to invest.

Montreal

A strategic crossroads on the continent, Montréal is recognized for its quality of life. It is an efficient city centred on research and advanced technology, the result of genuine synergy between the universities and the public and private sectors. Montréal’s culture, bilingual residents, dynamic economy and qualified workers, along with low operating costs, make it the ideal place to engage in business in thriving North American markets.

Montreal's Economy

The new economy
Montréal ranks fourth in North America for the density of technology-related jobs in relation to its population. Increasingly, it is becoming a leader in the realm of the new economy, whose raw material is knowledge and whose main tool is technology.

Manufacturing in Montréal
Montréal’s traditional economy ranks third in North America and generates some 288,000 jobs. Transportation equipment, metal products and electronic equipment are among the wide array of goods exported.

A hub for research and development
The high concentration of researchers in fields such as multimedia, biotechnology, pharmacology and the information technologies makes Montréal a hub for technological development.

Venture capital
Technology-intensive enterprises have at their disposal the volume of venture capital they need in Montréal.

An international finance center
Montréal has a complete range of financial institutions in the private and public sectors, including several international financial centers (IFCs) engaged in offshore operations.

It costs relatively little to operate a business in Montréal, regardless of its nature. Aside from its intelligent, competitively priced labor force, Montréal offers abundant, affordable energy resources.

Montreal's Resources

A commercial center . . .
- Montréal accounts for 46% of the population of Québec, produces roughly 45% (1995) GDP, and ranks 14th among major North American urban centers.
- It is the gateway to North America.
- It is a hub that offers quick, efficient, deregulated access to vast markets.
- It provides access to the world’s biggest trading block.
- Some 130 million consumers are located within a radius of 620 miles.
- Nearly 393 million consumers are accessible through NAFTA.
- The Greater Montréal area has a population of 3.3 million.
- It is the only major French-speaking city in North America.
- Nearly half of the population is bilingual (French-English).
- Some 13% of workers speak a third language in addition to French and English.
- The labor force numbers 1.8 million.
- The work force is stable, reliable and competent.
- Productivity is among the highest in North America.
- ISO 9000 and 9002 certification is the highest anywhere.
- Labor unions, employers and governments have established a unique partnership.
- Over half of the labor force has college and university training.
- Corporate taxation is among the lowest in the industrialized nations.
- Montréal has a unique concentration of venture capital companies.
- The area has numerous industrial and technology parks.
- Montréal ranks second in North America in terms of the cost of industrial lots.
- It ranks third in terms of construction costs for industrial buildings.
- Leasing costs for prestige office space are among the lowest in North America.
- Montréal has modern, efficient inter-city and intercontinental transportation infrastructure.
-The Greater Montréal area has two international airports.
- The Port of Montréal is Canada’s and the eastern seaboard’s leading port for container shipping.
- The port offers integrated intermodal transport.
- Rail and road networks are connected to the United States and Mexico.
- The city has ultramodern telecommunications services.
- Energy is available at competitive prices.

Worker training
Montréal’s biggest asset is without a shadow of a doubt the exceptional quality of its highly specialized workforce. Measuring the gross cost of this skilled workforce in terms of productivity yields one of the best real costs in the world
- Over half of the labor force in the Montréal area has college or university level training.
- The Greater Montréal area has 28 college institutions. Some 90,000 students attend the colleges, 43% in technical programs.
- Montréal has four universities, two French-language institutions and two English-language institutions.
- Universities in the Montréal area award 25% of the master’s and doctoral degrees attributed each year in Canada.

Quality of manpower
With a population of 3.3 million inhabitants, the Montréal area has a diversified labor force of 1.8 million people working for some 100,000 enterprises. Jobs are concentrated in the tertiary and secondary sectors, which account for 77.4% and 22%, respectively, of all jobs.
- Over 57.6% of the labor force in the Montréal area has a college or a university degree.
- Over 23.8% of the labor force has a university degree.
- In Montréal, 50% of the labor force is bilingual and 13% speaks a third language in addition to French and English.

Stability of the labor force
In order to face the globalization of markets, labor unions and employers’ associations are working together to find and implement innovative management methods that make it possible to enhance the performance of businesses.

Labor relations and partnership
- Work stoppages have been reduced by more than 75% in the past 10 years.
- In 1996-1997, 86% of collective agreements were concluded through negotiation.
- Québec’s two leading labor confederations have established the Fonds de solidarité du Québec (FTQ) and Fondaction (CNTU) venture capital funds.
- Staff turnover is limited among specialized workers.

Montreal's Industries

An aerospace center
- 55% of the operations and 53% of the manpower in Canadian aerospace industry;
- Over 250 companies employ 40,000 people;
- Headquarters of the International Civil Aviation Organization (ICAO);
- Headquarters of the International Air Transport Association (IATA);
- Headquarters of the International Aviation Management Training Institute (IAMTI);
- Headquarters of the Société internationale de télécommunications aéronautiques (SITA);
- Headquarters of the Canadian Space Agency;
- Headquarters of the Institute of Air and Space Law, McGill University;
- The Greater Montréal produces all of the parts needed to build an aircraft;
- 70% of the civilian helicopters sold in the world are manufactured in Montréal;
- Montréal accounts for 70% total R&D investments in Canada;
- 6,500 engineers and 7,000 technicians.

Aeronautic product :
- Challenger;
- Regional Jet (RJ);
- Canadair CL-415;
- PT-6, PW 100 and PW 200 aircraft engines;
- Satellites;
- Flight simulators;
- Helicopters.

World leaders in the aerospace sector in Montréal :
- Bell Helicopter Textron;
- Bombardier-Aerospace;
- CAE Electronics;
- EMS Technologies Canada
- Héroux-Devtek
- Messier-Dowty
- Pratt & Whitney Canada;
- Rolls-Royce Canada

A biopharmaceutical center
- Montréal ranks among the 10 leading biotechnology centers in North America;
- It accounts for half of all activity in this sector in Canada;
- Highly qualified, competent workers;
- Highly advantageous tax incentives for research;
- Synergy between industry, universities and research centers.

Internationally renowned institutes :
- Biotechnology Research Institute;
- Institut Armand-Frappier;
- Institute of Clinical Research of Montréal;
- Montréal Neurological Institute.

World leaders in the biopharmaceutical industry in Montréal :
- BioChem Pharma;
- Brystol-Myers Squibb;
- Merck Frosst Canada;
- Novartis-Pharma;
- Pfizer;
- Wyeth Ayerst

A telecommunications center . . .
- One of the world's most advanced telecommunications infrastructure;
- It accounts for over 40% of Canadian activity in the industry;
- More than 70% of output is exported;
- R&D spending up by 43% since 1990;
- Numerous call centers.

World leaders in telecommunications :
- AT&T Canada;
- Bell Canada;
- Bell Mobility;
- Ericsson Communications;
- Nortel Networks;
- Sprint Canada;
- Teleglobe Canada

A multimedia center . . .
- Important pool of highly skilled, wage-competitive, reliable workers;
- The originality and creativity of its designers are recognized the world over;
- Simultaneous production of software in several languages;
- Concentration of researchers and designers in the realm of 3-D animation.

World leaders in information technologies and multimedia :
- Alis Technologies;
- CAE Electronics;
- CogniCase;
- Discreet Logic;
- Matrox;
- Softimage;
- Speedware.

A leading E-commerce centre . . .
- The Québec government is seeking to create 20,000 jobs by the year 2010.

- Two business start-ups were confirmed at the beginning of the year 2000, i.e. CGI and NASDAQ.

- Businesses that set up operations in E-Commerce Place can take advantage of significant tax assistance in the form of a 25% tax credit on salaries paid there, up to a maximum of $10,000 per year per job. They can also take advantage of interim financing in respect of refundable tax credits and a five-year tax holiday on the personal income tax of foreign specialists.

- During a five-year period, the City of Montréal will grant E-Commerce Place credits in respect of increases in property taxes arising from construction and renovation projects.

- Located in downtown Montréal, E-Commerce Place occupies a prestigious, readily accessible site located near the Greater Montréal area's main decision-making centres. Moreover, buildings in the complex offer the most up-to-date services that enable the businesses operating there to take advantage of a highly efficient working environment

An international center . . .
- Nearly 75 international organizations maintain a presence in Montréal;
- 85 consulates;
- Ranks fourth among North American cities hosting international conventions;
- Harmonious cultural relations;
- Over 80 languages spoken.

A university center . . .
In 1998, the Montréal area accounted for near 60 % of the 1,906 degrees granted by Québec universities in computer sciences and mathematics.

- Four major universities, two French-language and two English-language institutions;
- 25% of all master’s and doctoral degrees granted in Canada;
- Over 300 research centers;
- Tuition fees are among the lowest in North America;
- Montréal plays a leading role in R&D.

Université de Montréal :
- North America’s leading French-language institution for higher education and research.
- Two affiliated schools : the École des Hautes Études Commerciales (HEC) and the École Polytechnique.
- The most complete medicine and health sciences program in Canada.
- The highest number of chairs in pharmacology in Canada.

McGill University :
- Instruction in English.
- Reputed for its programs in design, communications and environmental sciences.
- Two professional schools : the École de technologie supérieure (ETS) and the École nationale d’administration publique (ENAP).
- Two research institutes : the Institut national de la recherche scientifique (INRS) and the Institut Armand-Frappier.
- Canada’s oldest and most reputed university.
- A wide array of teaching and research conducted in several languages.
- The only university in the world to offer courses in air and space law at the master’s and doctoral levels.
- Ranks second in Canada (Medical Research Council of Canada) in the realm of the health sciences;
- The only university in the world to offer specialized courses in air and space law.

Université du Québec à Montréal (UQAM) :
- Recognized for its design and communications programs and the only Québec university to offer a doctorate in environment.

Concordia University :
- Instruction in English.
- Recognized for its program in communications and its computer-assisted research applications.
- Operates a pattern recognition and artificial intelligence research center.
- Internationally recognized for its Center for Studies in Behavioural Neurobiology.
- Offers a master’s program in air transport administration.
- Recognized for its computer-aided research applications.

Affiliated schools :
- École des Hautes Études commerciales (HEC);
- École Polytechnique;
- École nationale d’administration publique (ENAP);
- École de technologie supérieure (ETS);
- Institut national de la recherche scientifique (INRS).

Living in Montreal

Montréal is strategically located. A gateway to the Americas, it is one hour by air from New York, Boston and Toronto.

The Greater Montréal area accounts for 46 % of Québec’s population, i.e. 3.3 million inhabitants.

Geography and climate
Montréal is located in southwestern Québec at 450 North latitude on the same horizontal axis as Minneapolis, United States and Bordeaux, France. At 740 West longitude, it is in the northern axis of New York.

The Greater Montréal area covers over 1,500 square miles and encompasses Montréal Island, Laval, Longueuil and the municipalities located on the northern crown and the South Shore of the Saint Lawrence River.

- The four seasons in Montréal
Spring : Spring in Montréal is mild and sunny. It begins in early April as the last snow is melting. Maximum temperatures in April and May average around 51 ? F and 65 ? F, respectively.

Summer : Summer extends from June to September. Even though the temperature often soars above 86 ? F during July heatwaves, the maximum average temperature is 79.5 ? F. The temperate summer climate in Montréal is the ideal time to engage in a wide array of outdoor activities.

Autumn : Autumn is Montréal’s loveliest season. It is very colorful, with an average temperature of 55 ? F in October. It is the season for contemplation, when the Laurentian forest, resplendent in red and gold, is at its most glorious. Indian Summer, which usually occurs in early October, briefly brings back a summery air to Montréal.

Winter : Montréal is reputed for its cold, snowy winters that leave, on average, over 78 inches of snow a year. In January, the mercury hovers around 14 ? F or even lower! Anyone who is sensitive to cold need not avoid Montréal in Winter ! *

* Winter or summer, bad weather can be avoided in downtown Montréal by using a 18.6 mile network of pedestrian tunnels with access to shops, offices, department stores, concert halls, parking lots, hotels, restaurants and cinemas.

A cultural center . . .
- Montréal has developed a lively, resolutely contemporary culture that is open to the world.
- Just for Laughs Festival;
- Les Francofolies de Montréal;
- Montréal International Jazz Festival;
- Montréal World Film Festival;
- Opéra de Montréal;
- Orchestre symphonique de Montréal;
- 4,500 restaurants;
- Sophisticated, varied cuisine;
- Some 50 ethnic cuisines;
- More than 30 museums and exhibition centers

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