Investing in a more productive and competitive Québec manufacturing sector
*Quebec Industrial Policy - Putting Jobs First
Élaine Zakaïb, Minister for Industrial Policy and the Banque de développement économique du Québec, released Québec’s 2013-2017 Industrial Policy on Thursday, October 10.
The Industrial Policy addresses three main challenges currently faced by the manufacturing sector:
- modernize manufacturing companies and help them become more environmentally friendly
- favour the emergence of new manufacturing flagships
- support innovation, from idea to commercialization
Why an industrial policy?
According to Élaine Zakaïb, “Québec’s Industrial Policy will give Québec and its companies the means to keep pace with a modern, greener and more innovative economy. The government will invest over $1 billion in the manufacturing industry and, ultimately, create over 25,000 new lasting, high-quality jobs.”
The Minister pointed out that over the past two decades the manufacturing sector has been declining in all industrialized countries, and that in order to reboot this key sector of our economy and adapt to the new global order we need to rethink our outdated development models.
“We have to give ourselves a vision, rethink our approach and establish a global, coherent and integrated strategy. We need to modernize our companies, make them greener and see that they are better equipped with cutting-edge technologies. We have to help them grow, innovate and export. This is precisely the role of our Industrial Policy, which is based on broad consultations with Québec’ key economic players.”
Québec Industrial Policy 2013-2017 (in French)
Summary (in French)