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Economy

Economy

Economy

Highlights

$5.4B to support and boost the Quebec economy

  • $4.1B to support and boost the Quebec economy by providing transitional assistance to businesses affected by U.S. tariffs, supporting investment projects, promoting market diversification and making Quebec products easier to identify; $604.1M to increase our capacity to innovate by stimulating innovation and its commercialization through a renewed tax assistance regime, promoting innovation in strategic sectors, modernizing public services to make them more efficient and helping high-potential SMEs;
  • $759.0M to strengthen the regions’ contribution to wealth creation by boosting regional economies, developing our critical and strategic minerals, supporting the forestry sector, continuing support for the tourism sector and promoting the development of the agri-food sector.

Supporting and boosting the Quebec economy

  • $400M to provide transitional assistance to businesses affected by U.S. tariffs
    • Additional financial assistance in the form of loans, representing a $1.6B liquidity injection.
  • $195.8M to promote market diversification
    • $150M to continue the maritime strategy;
    • $15.8M to help bring export projects to fruition;
      • Supporting regional export promotion organizations (ORPEX);
      • $2M for Investissement Québec to support Quebec businesses in their diversification efforts in the rest of Canada and internationally;
    • $30M to defend Quebec’s interests and create wealth by supporting the network of representations abroad.
  • $4.5M to make Quebec products easier to identify
    • Funding for the organization Les Produits du Québec.

Supporting investment projects

  • $3.5B to support investment projects
    • $2.4B to extend the accelerated depreciation measures.
      • 100% depreciation rate starting in the year of acquisition
        • Manufacturing and processing machinery and equipment;
        • Clean energy generation equipment;
        • Zero-emission vehicles.
      • $900M to help carry out business projects.
        • Financial support for business projects to promote automation, robotization, digital transformation and the integration of artificial intelligence.
      • $14M to continue the Offensive de transformation numérique (digital transformation offensive).
      • $122M to continue the Offensive formation en construction (construction training offensive).
        • More places available in certain vocational training programs, including those leading to the trades of carpenter-joiner, electrician, bricklayer-mason, refrigeration mechanic, pipefitter, lineworker and crane operator;
        • Upgrading the skills of construction workers already employed, with particular emphasis on apprentices without a diploma and greater use of workplace internships;
        • Broad campaign to promote and enhance the image of the trades.
      • $7M to support Quebec suppliers to the electricity industry.

Boosting regional economies

  • $217.4M to boost regional economies, including:
    • $74.1M to continue initiatives for better connectivity;
    • $69M to renew the Government Action Plan for the Social Economy;
    • $15M to extend funding for the economic development program supporting the revitalization of territories;
    • $9M to accelerate local and regional economic development;
    • $48.5M to support the evolution of Capital régional et coopératif Desjardins;
    • $15M to assess the feasibility of optimizing rail transportation from the Labrador Trough.

  • $138M to continue supporting the tourism sector.

  • $202.3M to promote the development of the agri-food sector.

Optimizing tax assistance for businesses

  • Modernize the tax credit for the development of e-business (CDAE) to turn it into a tax credit for the development of e-business that incorporates AI.
  • Enhance tax assistance for critical and strategic minerals.
  • Make mineral resource development eligible, while introducing a cap on eligible expenses.

Public procurement

  • A penalty of 10% to 25% for businesses located in the United States that bid on government calls for tenders for certain procurement contracts.
  • Optimal use of the leeway provided by public procurement liberalization agreements:
    • Creation of markets reserved for small Quebec businesses;
    • Requirement for Quebec products, services or construction work;
    • Requirements included in calls for tenders that can be met by local businesses.
  • Tighter rules governing government purchases made through online shopping platforms.