Despite the pandemic, Montreal continues to attract foreign investors and workers
Unlike Silicon Valley, which is emptying as its workers flee exorbitant rents to settle in more affordable cities, Montreal continues to attract both international investment and foreign workers.
On Monday, Montreal International president and CEO Stéphane Paquet unveiled the results of what he called 'a record year' in terms of the projects his team supported in 2020. The economic development agency has supported 90 companies in their efforts to establish themselves in the metropolis.
Despite the economic crisis the world is going through, the city of Montreal is doing rather well, given the circumstances, with a total amount of foreign investment of $ 2.23 billion for 2020.
"Impressive figures," said Mayor Valerie Plante. Economy Minister Pierre Fitzgibbon, and Federal Economic Development Minister Mélanie Joly all took part in the virtual press conference.
"Our third best year ever," said Paquet.
Moreover, 8,192 jobs were created in 2020 in the city and the average salary for these positions is $83,976, well above the Quebec average of $50,000 per year -- not surprising when you consider that the main hiring sector is in information technology (32.9 per cent) and health (30.7 per cent).
- This article was produced with the financial assistance of the Facebook and Canadian Press News Bursaries.