Multiplying every dollar invested by 78
In 2020, QI has worked diligently to put the expertise of its team to good use given the specific challenges and characteristics of the various sectors in the region. Every public dollar invested generated $78 in economic benefits for the Québec City region:
$324.2M | Foreign direct investment |
$172.3M | High-tech entrepreneurship |
$135.4M | International recruitment |
$53M | Exports and commercialization |
$47.9M | Innovation and digital transformation |
$9M | Key cluster development |
Through sustained efforts, the agency has generated nearly $325M in foreign direct investment for the Québec City region—a 21.2% growth over 3 years—and helped create or maintain 713 jobs. In the high-tech entrepreneurship sector, 80 businesses coached through the incubator and accelerator LE CAMP have contributed to these exceptional results, with over $170M in benefits, more than double the results from 2019 for this sector. QI’s capabilities in terms of virtual missions, developed since 2013, allowed the agency to maintain its international recruitment initiatives and compensate for the limitations due to the pandemic. Over 1,774 international workers and students were recruited, leading to $135M in benefits.
As for the support to exports and commercialization, the real and potential sales reported by businesses increased by 60%, going from $33.1M in 2019 to $53M in 2020. Innovation was an essential component in ensuring that businesses remained competitive and continued to grow. The Capitale-Nationale Techno-Tandem Regional Acceleration and Development Space and the Québec City Industrial Expertise Centre (IEC) reached $47.9M in benefits, which add to the $9M obtained through key cluster development support.
The pandemic
The COVID-19 pandemic has affected QI’s operational style and forced the agency to shift its priorities in terms of actions and support programs. As a result, the organization supported almost 1,900 businesses in 2020. The pandemic was also an opportunity for QI to reinvent itself by adapting almost all of its initiatives into a virtual format. Almost 19,500 people took part in QI’s training, awareness and promotional activities.
Québec International wishes to thank all members of the Board of Directors as well as its partners for their unconditional trust and support in 2020. The agency also extends its gratitude to the members of its team, who have been working remotely since March 13, 2020, for their work, their capacity to listen and adapt, and most of all, their resilience.
Quotes
“This strong performance, which can be attributed to the continued efforts to support the Québec City region’s economic development and national and international outreach, is also the result of QI’s agility and capacity to meet the needs of businesses and organizations affected by the pandemic. Now more than ever, entrepreneurs are key drivers of the region’s development strategy, innovation and economic future.”
Carl Viel, President and CEO, Québec International
“The 2020 pandemic has disrupted the Québec City region’s economic ecosystem, which had been gaining momentum. Thankfully, due to government efforts and various initiatives developed by Québec International, our businesses received the necessary support to get through this difficult time. The economic benefits presented today show the positive impact that Québec International has in the region of our capital.”
The Honourable Jean-Yves Duclos, President of the Treasury Board of Canada and the Member of Parliament for Québec
“Québec International contributes directly to the outreach and economic vitality of the Capitale-Nationale as well as our province as a whole. Despite the effects of the pandemic on our local economy and international trade activities, the organization achieved very encouraging results. This shows that our region has managed to remain competitive and continues to attract foreign direct investment. This is a key factor in our economic recovery and our society’s dynamism.”
Geneviève Guilbault, Quebec Deputy Premier, Minister of Public Security and Minister responsible for the Capitale-Nationale region
“Increasing the attraction of foreign investment is one of my main priorities. This announcement means that Investissement Québec International will be able to rely on the close collaboration of Montréal International and Québec International to accelerate economic development in the province of Quebec. The prospection of foreign investment is part of the solution to ensure a quick and sustainable economic recovery in the province.”
Pierre Fitzgibbon, Minister of Economy and Innovation and Minister responsible the Lanaudière region
“Your knowledge of local, national and international business environments and your sensitivity to the reality and needs of the municipal government are what make you an essential partner for Québec City, especially in the current context of the pandemic. Thank you for using your expertise to help businesses in the Québec City agglomeration.”
Régis Labeaume, Mayor, Québec City
“Our team at Investissement Québec International is proud to be a daily partner of Montréal International and Québec International, two outstanding prospection agencies. They both stand out when it comes to executing essential actions like highlighting the many benefits of doing business in the province of Quebec. Together, we are working on reaching the Government of Quebec’s ambitious targets in terms of foreign investment and talent prospection and thus contribute actively to the sustainable development of our economy.”
Hubert Bolduc, President of Investissement Québec International
“In the current economic context, Québec International, as a driver of economic development, should be proud of having played a major role in ensuring the collaboration of all business players and government levels to help businesses and organizations get through the crisis and recover along with the economic.”
Andy Sheldon, President of the Board of Directors, Québec International
Useful links
To download a digital copy of the 2020 Annual Activity Report from Québec International’s website, please click here.
You can also view our video highlights by following this link, or download the highlights in PDF here.
About QI
Québec International contributes to the economic development and international outreach of the Québec City metropolitan area. As a regional economic development agency, Québec International fosters business growth, supports key clusters and attracts talent and investments to the area. For further information, please visit www.quebecinternational.ca.
