Québec Government Economic Update
Aéro Montréal applauds government’s commitment to address labour shortages and stimulate economic growth
Montréal, November 25, 2021 – Aéro Montréal welcomes the government’s commitment to take concrete action to address the ongoing labour shortage and stimulate economic growth in the province. As the Québec economy regains strength, the significant investment of $3.4 billion in new initiatives over the next five years is certainly a clear message that the government strongly supports the strategic and critical areas of its economy.
Attracting, developing and retaining labour
Québec is still facing a serious labour shortage which, for the moment, shows no sign of improving. The difficult situation, which was already affecting many sectors before the pandemic, including the aerospace industry, has only increased since then. By investing $2.9 billion to train, retrain and attract workers in key industries, the government is confirming its desire to support businesses in developing a skilled workforce and in the post-pandemic economic recovery. Hundreds of jobs are and will be available in the aerospace industry in the months and years to come, and the Québec government’s support in attracting and retaining local and international students and workers is certainly good news.
Stimulating economic growth and supporting the establishment of the first innovation zones
In its economic update, the government noted that “Québec’s prosperity depends on its ability to innovate and transform the knowledge of Quebecers into wealth.” In order to enhance the conditions for innovation and the development of Québec’s ingenuity, the government wants to support the deployment of the first innovation zones. The investment of an additional $100 million over three years, on top of the $40 million previously announced to contribute to the deployment of the innovation zones, is excellent news and unequivocally demonstrates the intention to position Québec as a global hub for innovation, investment attraction and a showcase for Québec engineering. Aéro Montréal, Québec’s Aerospace Cluster, has also submitted a project for a Québec Aerospace Innovation Zone, which brings together more than 100 partners spread over three major geographical areas: Mirabel, Longueuil and Saint-Laurent. This zone will involve various regional socio-economic players, such as companies, economic organizations, research and educational institutions and municipalities.
“Faced with the challenge of labour scarcity currently affecting the aerospace industry, Aéro Montréal welcomes the measures planned to attract, develop and retain talent and improve the productivity of Québec companies. By placing the labour shortage, economic growth and innovation at the centre of its priorities, the government is demonstrating its determination to make Québec a showcase for knowledge and a world leader in innovation,” said Suzanne M. Benoît, President of Aéro Montréal.