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Economy

Economy

Highlights
Economy

$2.2B over 5 years to increase the productivity of Quebec’s economy:

    • Support innovation and research ($1.5B over 5 years):
      • Roll out the Québec Research and Innovation Strategy 2022-2027 ($1.3B over 5 years, including $288M in 2022-2023);
      • Renewal of the Québec Life Sciences Strategy ($110M over 3 years, including $20M in 2022-2023):
        • Strengthen the life sciences ecosystem;
        • Develop leading-edge technological, digital and physical infrastructure to attract and support businesses in the sector;
        • Meet health challenges with the help of Quebec businesses;
        • Develop talent and human capital suited to the sector’s new needs.
      • Support the development of critical and strategic minerals and innovation in the mining sector ($7.5M in 2022-2023):
      • Continue the partnership research program on the sustainable development of the mining sector.
      • Strengthen support for foundations and research organizations ($13.9M in 2022-2023).
    • Continue the digital shift ($451M over 5 years, including $150M in 2022-2023):
      • Continue the digital transformation offensive ($30M in 2022-2023);
      • Complete mobile coverage of Quebec’s inhabited areas and road corridors ($30M in 2022-2023);
      • Accelerate the pace of the government’s digital transformation;
      • Launch a new program to enhance cybersecurity ($25M in 2022-2023);
      • Update the digital services offering to ensure tax fairness ($35M in 2022-2023).
    • Stimulate investment in new technologies, entrepreneurship and exports ($224M):
      • Accelerate the acquisition of new technologies by businesses (nothing in 2022-2023);
        • $156M to extend the parameters of the investment and innovation tax credit (C3i).
      • Contribute to entrepreneurial dynamism ($17.5M in 2022-2023);
      • Increase exports and promote Quebec’s strengths ($3.2M in 2022-2023).
    • Strengthen the employment integration of immigrants ($290.2M over 5 years):
      • Increase support for learning French ($12.9M in 2022-2023);
      • Encourage the attraction of immigrants to the regions (nothing in 2022-2023);
      • Speed up the processing of immigration applications ($2.3M in 2022-2023).
    • $1.5B over 6 years to support the economic development of the regions:
      • Contribute to the prosperity of the regions ($435M):
        • Support regional air transportation ($255M over 5 years):
          • Encourage the establishment of accessible regional air service;
          • $21M in emergency support for regional air transportation.
        • Foster the economic vitality of the regions ($15.4M in 2022-2023):
          • Accelerate economic development across Quebec ($7.6M in 2022-2023):
            • Support for developing the battery industry;
            • Support for RCMs with their strategic planning.
      • Encourage Quebec production and buying local ($5M in 2022-2023):
        • Strengthen Quebec’s supply chains.
      • Maximize the international potential of Quebec’s regions and partners ($1.3M):
        • Consolidate the networking structure of chambers of commerce and enhance cooperation initiatives that include regional components.
      • Continue the growth of the bio-food sector ($627M over 5 years):
        • Continuation of the Bio-Food Policy ($133M in 2022-2023);
        • Initiatives to ease the labour shortage ($3M);
        • Enhancement of La Financière agricole du Québec’s Programme Investissement Croissance ($25M in 2022-2023).
      • Secure propane supplies in Quebec ($1.5M).
      • Invest in regional land transportation infrastructure ($62.7M).