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A boost for our metropolis: time to act - Montréal presents its economic recovery plan

17 juin 2020

Montréal, le 17 juin 2020 - Mayor Valérie Plante and Luc Rabouin, executive committee member in charge of economic/commercial development and design, presented Montréal's economic recovery plan, “A boost for our metropolis: time to act.” The plan sets out tangible and immediate measures to support Montréal's economic ecosystem and proposes developmental steps to promote a long-term green, resilient and inclusive economy.

“In these exceptional times, we must act quickly to truly boost Montréal's economy. This means a recovery plan that calls on all municipal leverage and which involves infrastructure and transportation projects, supply processes, taxation and support measures for businesses to stimulate our city's economic development. A plan which through the Réflexe Montréal agreement with the government of Québec, we are able to announce investments of nearly $22 million, as well as 20 measures that we intend to launch over a six-month period to revitalize Montréal's economy,” said Mayor Plante.

“Montréal's economic recovery plan is based on an in-depth process of analysis and cooperation with a number of partners. It incorporates recommendations from a report issued by a city-led committee of economic experts as well as work from the advisory committee that was created by the mayor to consider and coordinate efforts from social and economic stakeholders as part of the city's economic recover. Long term, it will provide a necessary boost to Montréal's economic ecosystem to ensure its longevity and revive the dynamics for which it is known,” said Rabouin.

Support measures for businesses and the economic ecosystem
As part of Montréal's economic recovery plan, the city has announced 20 measures in four areas of focus:

1) Putting business at the heart of recovery ($5.6 million): Revitalizing commercial streets and supporting business owners.

2) Helping companies do business differently ($4.8 million): Helping businesses with debt issues, transforming their business models, supporting startups and social economy. 

3) Reinventing the area's economic development ($10.5 million): Using the area's strategic assets and creating new programs to support sustainable investment.

4) Mobilizing the economic ecosystem and stimulating renewed economic engagement ($1.1 million): Supporting and coordinating initiatives for growth, research, data and training.

Investing in capital assets
Montréal will increase its investments in capital assets, particularly with respect to active and public transportation, the waterworks system and the arts and tourism industries. It will also make strategic investments in various financial incentive programs to stimulate private capital assets.

Responsible supplying
As one of Québec's biggest purchasers, the city will demonstrate exemplary practices, change some of its internal policies and launch a major project in order to review its methodology and implement innovative and sustainable supply solutions.

Revisiting taxation and legislation
Montréal would like to have support from different levels of government in order to access financial leverage to act on taxation. The city also intends to make its legislation more flexible, if needed, in order to adapt to new realities and the most current health standards. 

Réflexe Montréal agreement
As part of the government of Québec's official recognition of Montréal as a metropolis in 2017, the “Réflexe Montréal” agreement aims to develop Montréal's full economic, social and cultural potential. As a metropolis, Montréal now has greater independence and flexibility in making decisions that influence the quality of life of its residents.

For more information:

Montréal economic recovery plan Summary

Montréal economic recovery plan (in French)

Info hotline: Businesses of any type that would like to know more about current programs and measures can contact the city Monday to Friday at  514-394-1793 or complete this form (in French).