Montréal Geared up for Tomorrow
Montréal, a hub of innovation, talent, and economic, entrepreneurial, international, sustainable and social development.
The economic climate that Montréal is experiencing is favourable, both for its development and its prestige. Montréal’s strengths and vital forces put it in an attractive position internationally among the world’s cities with the highest potential for success. To ensure its prosperity, Montréal has created a new strategy to accelerate its economic development based on five strategic orientations and high-potential sectors.
High-potential economic sectors
to support the strategic economic development orientations
The cultural and creative industries, which represent a mainstay of Montréal’s distinctive identity and character, are a meeting point for creativity, culture, technology, and innovation. These industries include architecture and design, fashion, multimedia and video games, digital arts as well as traditional visual and live arts. The industries experiencing growing demand due to increased urbanization are spawning new business models.
The life sciences and health technology (LSHT) sector encompasses all health-related activities, from research to product and service development, including medical equipment manufacturing, research and development services (R&D), and pharmaceutical distribution. The future of this sector relies on collaboration between institutions (governments, higher education institutions, healthcare networks, research centres) and businesses (companies, SMEs, multinationals, financing companies). This sector is key to Montréal’s economic development.
The digital industry at the root of innovation sectors provides leverage for attracting both domestic and foreign investment. Increasingly widespread, it has proliferated through all other activity sectors, allowing new business models to emerge. Its primary sub-sectors are artificial intelligence and deep learning, virtual augmented reality, big data, advanced manufacturing, software and IT services, as well as telecommunications services. This industry is crucial to the city’s economic development.
Serving most economic sectors, including public transport, manufactured goods, distribution centres, wholesale trade, e-commerce, and last-mile delivery, this key industry combines all modes of transport and their disparate logistics. This job-creating and lucrative industry, whose success relies on the quality of its services, has a direct impact on productivity and performance, and plays a key role in the Montréal territory’s appeal. The development of new sustainable and intelligent transport systems is an opportunity to strengthen Montréal’s place within the industry.
An emerging and fast-growing sector, cleantech reconciles economic growth with environmental performance. Ensuring the transition to a low-carbon economy, this sector promotes innovation through the creation of products and services that impact other sectors of economic activity, while fostering the creation of innovative companies. The cleantech sector consists primarily of green chemistry, energy efficiency, renewable energy, sustainable mobility, waste management, water management, remediation of contaminated sites, treatment of ambient air, etc. The sharp increase of investment in R&D is pushing the sector to build on innovative solutions.
To gear up for Montréal’s economic growth, the city has developed eight action plans to help it carry out its vision. Between now and 2022, $360 million will be invested in making the city more prosperous.
Action plan for entrepreneurship
This plan’s objective is to stimulate the creation, growth and rate of survival of businesses in order to make Montréal an international reference for entrepreneurship.Action plan
Action plan for an efficient network
This two-part plan for an effective action network aims to create a dynamically performing network in which entrepreneurs can create, develop and innovate.Action plan
Action plan for design
Gearing up for strategic and transversal integration of design in all municipal practices and developing the market for Montréal’s designers are the aims of this design plan.Action plan
Action plan for knowledge and talent
To make Montréal companies more competitive, this plan for knowledge and talent aims to contribute to attracting, retaining and training talent, as well as promoting and commercializing innovation.Action plan
Moving Montréal Forward
Action plan for international economic affairs
With this plan for international economic affairs, Montréal intends to attract investments and talent while moving Montréal companies and organizations forward on the international scene.Action plan
Weaving Together Montréal
Action plan for social innovation
By recognizing key economic players that are catalysts for change, providing guidance for initiatives and funding projects, this social innovation plan will help social innovation grow and thrive.Action plan
Action plan for commerce
Making nearby and retail businesses more dynamic, improving the built environment on commercial streets and supporting businesses on streets that are within construction sites are some of the objectives of the new plan for commerce.Action plan
Action plan for for the economic development of the territory
Action plan for for the economic development of the territory This economic development plan for the greater Montréal area aims to develop an integrated and sustainable vision of employment zones to help make Montréal’s economy more dynamic while maintaining Montrealers’ quality of life.Action plan
Support for business
Through its programs, support initiatives and calls for projects, the City of Montréal helps the business community in a multitude of ways, from the modernization of infrastructures to the export of products, including revitalization of commercial arteries.
Calls for Projects
Offering strategic information to support analysis and decision making with respect to different facets of Montréal’s economy.
Montréal économique en bref
Weekly newsletter that summarizes the main indicators of economic vitality.