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2022 Annual Activity Report: Québec International passed the one-billion-dollar mark, with $1.15b in economic benefits

Economic benefits from Québec International’s (QI) activities reached an impressive $1.15B during the last fiscal year, a record for the economic development agency, who just released its Activity Report 2022 earlier today. Not only did these results outperform those of 2021, which was in itself an exceptional year with $973.9M in benefits, they also passed the one-billion-dollar mark for the first time in QI’s history. This also represents 55% growth in two years.


Every public dollar invested generated $105 in economic benefits for the Québec City region. This performance is attributable to all the activities and initiatives organized by the agency, including in the following sectors:


Foreign direct investment


International recruitment


High-tech entrepreneurship


Innovation and digital transformation


Exports and commercialization


Key cluster development

Despite uncertain economic conditions, QI’s actions have led to $553.1M in announced foreign investments for the implementation or expansion of international businesses, more than half of which are in the ICT and electronics sectors. These results surpass those of the previous year by $75M. Moreover, this amount represents 11 times the economic benefits announced in 2012: an outstanding increase in just one decade. These investments also mean that 730 jobs were created or safeguarded, almost twice the number of jobs created in 2021. Of the 14 projects announced or accomplished, five came from international entrepreneurs. 

To offset the labour shortage and help local businesses, QI implemented several initiatives for recruiting and retaining international workers and students. The results speak for themselves, with double the economic benefits of 2021, reaching $307.3M. Among other efforts, the agency has organized 11 recruitment missions around the world, which have led to the recruitment of 2,975 skilled workers and 1,085 international students. When including spouses and families, the number of newcomers reaches 7,900 people. 

LE CAMP, the Québec City technology accelerator and incubator, generated economic benefits of $194.5M — $109.3M in financing obtained by mentored businesses, and $85.2M in real sales. With its various actions, LE CAMP also helped create or safeguard 1,285 jobs. 

Québec International, through the Capitale-Nationale Techno-Tandem Regional Acceleration and Development Space (RADS) and the Québec City Industrial Expertise Centre (IEC), supports businesses in their digital transformation projects, leading to $53.3M in economic benefits. To promote business growth, QI also provides support in exports and commercialization, a sector that stood out with $38.9M in benefits in 2022. Cluster development support generated $5.3M in economic benefits.   

The agency would like to thank the members of the board of directors as well as every partner for their support and collaboration, which are instrumental in achieving its mission. 


“Québec International once again surpassed the previous year’s results, with record economic benefits of over one billion dollars! In 2022, the agency supported 1,274 businesses, research centres and educational establishments and provided 21,223 hours of personalized coaching in exports, innovation, entrepreneurship and international mobility. These efforts show our unwavering dedication to the region’s economic development.”

  • Mr. Carl Viel, President and CEO, Québec International

“Congratulations to Québec International and every social and economic stakeholder in the Québec City region for achieving this record result of over one billion dollars in economic benefits in the fiscal year 2022. Québec City has so many assets: it is a unique and historic North American city with an exceptional quality of life index and a substantial pool of skilled workers. These factors all contributed to reaching these results and are a source of pride for us. The Government of Canada will continue to be a leading partner of Québec International in years to come.” 

  • The honourable Mr. Jean-Yves Duclos, Canadian Minister of Health, on behalf of the honourable Mrs. Pascale St-Onge, Minister of Sport and Minister responsible for the Economic Development Agency of Canada for the Regions of Quebec

“I am grateful to be able to count on partners like Québec International to support employers in their international recruitment efforts. QI’s impressive results in 2022 show the extent of the agency’s contribution to the Québec City region’s social and economic development as well as the need to continue to support its operations. An additional $2.6 million in funding for 2023–2024 has also been granted to the agency on behalf of the Government of Quebec. This will allow QI to continue its efforts in organizing activities for attracting and retaining foreign students as well as recruiting temporary foreign workers for the Québec City region.”

  • Mrs. Christine Fréchette, Minister of Immigration, Francization, and Inclusion

“Year after year, Québec International surpasses itself and manages to do better, for the benefit of the Capitale-Nationale region. In the past 15 years, 22,000 people recruited abroad have come to work in our businesses and live in our region. I am delighted by these outstanding economic benefits and I am happy to be able to count on Carl Viel and his team. They are precious collaborators of the Government of Quebec. I raise my hat to them and thank them for all that they have done for our region!”

  • Mr. Jonatan Julien, Minister responsible for Infrastructure and Minister responsible for the Capitale-Nationale Region

“Québec International attracted over 550 million dollars in foreign investment to the Québec City region. These numbers are a testimony to the economic appeal of our province’s capital. Thanks to its close collaboration with Investissement Québec International, QI was able to attract wealth-producing initiatives by strengthening strategic sectors in which the province of Quebec distinguishes itself.”

  • Mr. Pierre Fitzgibbon, Minister of Economy, Innovation and Energy, Minister responsible for Regional Economic Development, and Minister responsible for the Metropolis and the Montréal region 

“I salute the commitment of Québec International’s team and all the partners involved for these excellent results. The direct benefits of QI’s actions reflect the great vitality of local businesses that work to solve our collective challenges for a stronger and more dynamic economy, for the benefit of Québec City residents.”

  • Mr. Bruno Marchand, Mayor of Québec City

“Once again, the results are there for all to see. It would not have been possible without the contribution of all the stakeholders involved, including partners, financial backers and other allies, Québec International’s teams, the members of the board of directors, or even the many economic stakeholders who care about the region’s development, prosperity and status and work together to progress in the same direction.”

-Mr. Andy Sheldon, President of the Board of Directors, Québec International 

You can view our video highlights by following this link, or download the report here.

About QI

Québec International contributes to the economic development and international standing of the Québec City metropolitan region. 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.


Source: Elsa Iskander
Advisor – Press Relations and Public Communications
Québec International
581 446-7707