2023 IN NUMBERS
Over 1,500 businesses, research centres and educational establishments benefited from our services, 1,378 jobs were created or maintained through foreign direct investment and technology entrepreneurship, 52,661 people took part in our activities and events in person and online, and over 18,400 hours were spent supporting entrepreneurs.
The overall performance can be attributed to the activities and initiatives from Québec International’s various business lines that have an impact on the region:
$990.3M – Foreign direct investment
$285.4M – International recruitment
$172.8M – Technology entrepreneurship
$55.07M – Innovation and digital transformation
$46.3M – Export and commercialization
$16M – Key cluster development
The $990.3M in economic benefits generated by foreign direct investment are explained in part by the announcement that Microsoft will be setting up four data centres in the region, a project that QI’s team has been working toward for years. Note that international subsidiaries contributed 10% of the region’s GDP and that their reinvestments in the region make up 80% of the benefits of this business line.
Labour scarcity remained a concern for businesses and required many initiatives for attracting and recruiting skilled talent. In addition to generating benefits, almost 600 activities were held, including 17 recruitment missions. In 2023, 2,357 skilled workers and 2,033 international students were recruited, for a total of 7,000 newcomers including family members.
Once again, the technology business accelerator and incubator LE CAMP registered growth this year, generating $172.8M in economic benefits. In total, 11 prospecting and business development missions were held.
Innovation and digital transformation generated an estimated $6.15M in benefits, according to the Capitale-Nationale’s regional acceleration and development space (RADS), which initiated 27 projects and provided services to 232 businesses. The Québec City Industrial Expertise Centre (IEC) estimated the benefits and investments at $48.9M, with 104 digital projects initiated and 214 businesses benefiting from its services.
In terms of export and commercialization, on top of the $46.3M in benefits from real and potential sales, 19 professional and business development activities were held, while a trade mission and 81 projects were initiated, including 25 new export businesses.
Together, our key clusters, which include green and smart building (Québec BVI), life sciences and health technology (Québec VITAE), and techno-creativity in video games, animation and immersive experiences (Québec EPIX), have generated $16M in benefits.
QUOTES
“The business sector faced some major challenges in 2023. Therefore, we are very proud to have generated over one billion dollars in benefits for the second year in a row—benefits that represent a 36% increase compared to 2022. We have reached several milestones, including celebrating our 20th anniversary and holding our 100th international recruitment mission since 2008. More than ever, we are proving that we are a major ally of the region’s business community.” – Carl Viel, President and CEO, Québec International
“Québec International (QI) is a great contributor to the city of Québec’s economic development and international profile. QI is an important partner to the Government of Canada in the transition to an economy we wish to be more just, greener, more innovative, and more resilient. CED will continue to work with QI to attract foreign investors, foster innovation, and help businesses in their international marketing efforts, which will contribute to the region’s economic development. Congratulations to the entire team on the work being done, year upon year.” – The Honourable Soraya Martinez Ferrada, Member of Parliament for Hochelaga, Minister of Tourism and Minister responsible for Canada Economic Development for Quebec Regions
“I salute the commitment of Carl Viel and his team at Québec International, as well as all the partners involved, for reaching these excellent results. The economic benefits announced today are a proof of Québec International’s positive impact on economic development by facilitating business partnerships, attracting investments and supporting local business growth, thus creating new opportunities for growth and employment for the Québec City region’s residents. The Government of Canada will continue to be a leading partner of Québec International in years to come.” – The Honourable Jean-Yves Duclos, Member of Parliament for Québec and Minister of Public Services and Procurement
“These annual results show how Québec International is a key player in our economy. Its action has a significant impact on the reputation of our beautiful capital in Canada and the world. For 20 years, QI’s team has made it its mission to support entrepreneurship within the local business environment. Québec International’s expertise is outstanding and promotes our businesses’ growth and success. Congratulations! These results are outstanding and inspiring.” – Jonatan Julien, Minister responsible for Infrastructure and Minister responsible for the Capitale-Nationale Region
“I am proud of the beneficial collaboration between the Ministère de l’Économie, de l’Innovation et de l’Énergie, Investissement Québec International, and Québec International. This collaboration allows us to align our respective priorities and deploy an efficient strategy for concerted economic development in the Capitale-Nationale region and the province of Quebec.” – Pierre Fitzgibbon, Minister of Economy, Innovation and Energy, Minister responsible for Regional Economic Development, and Minister responsible for the Metropolis and the Montréal region
“Québec International is a true economic driver in Québec City, and these annual results are a prime example of its importance in our economy. Each day, without even knowing it, Québec City residents are surrounded by the results of the tremendous efforts from QI’s exceptional teams to support our local entrepreneurs. More than ever, we are convinced of the importance of an agency like this one to promote our expertise, locally and abroad, while also attracting economic stakeholders to our region. Congratulations to all the people who take part in this exceptional success, year after year.” – Bruno Marchand, Mayor of Québec City
“Québec International was able to reach these exceptional results thanks to the contribution of public and private partners, financial backers and all the employees and members of the board. Given the current context, I would also like to recognize the efforts of the many economic players who have, like us, helped the region continue to grow and stand out locally and internationally.” – Andy Sheldon, President of the Board of Directors, Québec International
