The signals of an economic slowdown had an effect on the value of direct and foreign investment in Greater Montreal last year: it contracted by 5.8%, to 3.58 billion, according to the report presented Monday by Montreal International (MI). The organization says it supported 102 projects in 2022 – a record.
This report was presented at a press conference in the presence of representatives of the three levels of government: Federal Minister of Canadian Heritage and Quebec Lieutenant in the Trudeau government Pablo Rodriguez and Minister of Economy and Energy Pierre Fitzgibbon.
The Mayor of Montreal and President of the Metropolitan Community of Montreal (CMM) Valérie Plante, the Mayor of Longueuil Catherine Fournier and the Mayor of Laval Stéphane Boyer were also present.
MI calculates that about 8,300 jobs with an average annual salary of more than $88,000 have been created. The life sciences sector won 12 projects worth 685 million. The establishment of the vaccine plant of the multinational Moderna in Laval is the highlight in this category.
In addition, 21 projects, worth $755 million, have taken up residence outside the island of Montreal. According to MI, more than 50% of direct and foreign investment came from the Americas last year. The rest comes mainly from France, Switzerland, the rest of Europe and the Middle East.