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A record $3.8 billion in foreign investments made in Montreal during 2021

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

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

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

“These results (stem 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 account for 18 per cent  and 17per cent, respectively, of investments.

READ MORE: High gas prices taking a bite out of earnings for Montreal food delivery drivers

Transportation logistics ranks third at 14 per cent, followed by data centres, aerospace and finance, each at 8 per cent.

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Health sciences and technologies, for their part, generated 6 per cent of investments.

Montréal International claims that its efforts have added 1,135 international workers to the Greater Montraal labour pool.

The talentmontré site, which connects local employers and talent 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 to the city: the International Sustainability Standards Board (ISSB), which must establish environmental financial disclosure standards for all companies in the scale; the Global Humanitarian Aviation Organization (GHAO), which adds to the cluster of international civil aviation organizations.

Read more:

Montreal to become North American hub for standards on corporate sustainability reporting

Montréal International is a non-profit organization funded by the private sector, the governments of Canada and Quebec, the Communauté métropolitaine de Montréal and the City of Montreal.

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

— With files from Global News’ Brayden Jagger Haines


© 2022 The Canadian Press

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