Foreign investments

A record $3.8 billion in foreign investment made in Montreal in 2021 – Montreal

Foreign investment in Montreal reached a new record high of $3.8 billion in 2021, Montreal International (MI) reported on Monday.

This is a 69% increase over last year. These sums represent 100 projects and nearly 11,550 jobs created, estimates the organization.

READ MORE: Canada adds 337,000 jobs in February, unemployment drops below pre-pandemic levels

“These results (result) from the work of a team of 85 professionals who attract foreign investment, international organizations or international talent,” commented Stéphane Paquet, President and CEO of Montréal International.

The software and video game sectors represent 18% and 17% of investments respectively.

READ MORE: High Gas Prices Are Cutting Income For Montreal Delivery Drivers

Transportation logistics ranks third with 14%, followed by data centers, aerospace and finance, each with 8%.

The story continues under the ad

Health sciences and technologies generated 6% of investments.

Montreal International says its efforts have added 1,135 international workers to Greater Montreal’s labor pool.

The talentmontréal.com site, which connects local employers and talents abroad, recorded the registration of 54,000 international candidates in 2021, mainly in information technology.

For Montréal International, the year 2021 was marked by the attraction of two international organizations for the city: the International Sustainability Standards Board (ISSB), which must establish environmental financial disclosure standards for all companies on the scale ; the World Humanitarian Aviation Organization (GHAO), which joins the group of international civil aviation organizations.

Read more:

Montreal will become the North American hub for corporate sustainability reporting standards

Montreal International is a non-profit organization funded by the private sector, the governments of Canada and Quebec, the Montreal Metropolitan Community and the City of Montreal.

Its mandate is to attract and retain foreign investment, international organizations, skilled workers and international students in Greater Montreal by offering support services tailored to their needs.

– With files from Brayden Jagger Haines of Global News

© 2022 The Canadian Press