Quebec City CMA: economic trends and prospects
Quebec
City region rebounds in 2010
All indicators suggest that economic conditions
in the Quebec City census metropolitan area (CMA) will continue to
improve in 2010. After emerging from the recession relatively unscathed,
the local economy will record growth in most sectors. Real GDP is
forecast to rise by 2.1% this year, outpacing the rate at the end of the
1991 recession (1.1%).
More
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| KPMG's Competitive Alternatives 2010:
Quebec City comes out on top |
According to KPMG's study, Quebec City ranks first among
the most competitive Canadian and US cities in its category. The study
evaluates the after-tax costs of startup and operations over a 10-year
period in nearly 100 cities in North America, Europe and the
Asia-Pacific region.
Press release |
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| Quebec City and Lévis are magnets for
workers, according to the Conference Board of Canada |
Greater Quebec City is the most attractive region in the
province for specialized workers, according to the results of City
Magnets II, which examines the attractiveness of various Canadian
cities. Ranked 17th and 19th respectively, Lévis and Quebec City scored
particularly well in terms of the environment, healthcare and access to
property.
Press release (Lévis - French)
Press release (Quebec City -
French) |
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| Bell announces $225 million investment in
the Quebec City region |
Bell is selecting the Quebec City region to roll out its
first––and the country’s largest––fibre-optic network, aimed at making
the company a key player in the areas of digital connectivity and
competitiveness.
Press release (French) |
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Laura
Secord to be headquartered in Quebec City
Chocolate maker Nutriart has purchased the Laura
Secord brand in a transaction that will lead to the creation of 25 new
jobs in Quebec City.
Press release
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North American Network of
Basin Organizations (NANBO) establishes its secretariat in Quebec City
Stemming from the most recent general meeting of
the International Network of Basin Organizations in Hungary in 2007,
NANBO has selected Quebec City as the site for its secretariat. The new
organization will serve an area extending from Greenland to Panama.
Press release
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Teknion
invests $8.1 million in Lévis
Office furniture manufacturer Teknion recently
opened its new distribution centre in Lévis as part of an $8.1 million
project that is expected to bring 700 jobs to the region.
Press release
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| EXFO acquires Finland’s NetHawk Oyj |
EXFO has acquired NetHawk Oyj, a global wireless network
testing specialist. This acquisition propels EXFO into the ranks of the
top five suppliers in the telecom test and service assurance industry.
Press release
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Atrium Innovations acquires
Trophic Canada for US$ 11 million
Thanks to the acquisition of Trophic Canada
(which specializes in vitamins, minerals and plant-based supplements),
Atrium now has a complementary platform in the Canadian market.
Press release
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| Medicago signs agreement in Japan |
Medicago, a Quebec City-based biotech company, has
concluded a memorandum of agreement with Japanese company Niigata to
market its flu vaccines in that country.
Press release
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| Moving towards telehealth in Quebec City |
For the first time in Canadian history, the Quebec
Cardiology and Pneumology Institute (IUCPQ) has launched a
new-generation defibrillator with remote monitoring capabilities.
Press release (French) |
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Clinical
utility of DiagnoCure's PCA3 biomarker confirmed
Two worldwide studies have confirmed the
clinical utility of the PROGENSA®PCA3 test, which can be used to guide
decisions relating to prostate biopsies and to predict the risk of
malignant cancer.
Press release
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| Japan's Haneda Airport selects Obzerv's
cameras |
Quebec City’s Jean Lesage International Airport continues
to grow as a result of United Airlines’ decision to add a second daily
flight to Chicago and to launch non-stop service to Washington, DC
beginning on June 10.
Press release
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United
Airlines reinforces its presence in Quebec City
Quebec City’s Jean Lesage International Airport
continues to grow as a result of United Airlines’ decision to add a
second daily flight to Chicago and to launch non-stop service to
Washington, DC beginning on June 10.
Press release
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| Germain Group continues to expand in
Calgary and Toronto |
In February 2010, the Germain Group opened its sixth
complex, Le Germain Calgary, which includes a boutique hotel, an office
tower and 40 private residences. The Group’s seventh complex is slated
to open in Toronto in August.
Press release |
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| Netherlands-based OMA wins the Quebec
City Museum of Fine Arts contest |
The $90 million project submitted by Dutch architectural
firm OMA, headed by architect Rem Koolhaas, has won the international
contest to design a new pavilion for Quebec City’s National Museum of
Fine Arts (MNBA).
Press release
Video segment (French) |
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Quebec
City among the finalists to host the Universal Forum of Cultures
Quebec City, Amman (Jordan) and Cape Town (South
Africa) are the three finalists to host the Universal Forum of Cultures
in 2016. The winner will be announced at the conclusion of the
Valparaiso Forum in Chile in January 2011.
Press release (French)
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Neurophotonics
summer school in Quebec City
Quebec will be hosting the fourth edition of Frontiers
in Neurophotonics, an international summer school.
Press release
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Q4 2009 |
2009 |
| Quebec City CMA |
+1.6% |
-0.7% |
| Quebec (province) |
+1.3% |
-1.4% |
| Canada |
+5.0% |
-2.6% |
| FURTHER INFORMATION |
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Q4 2009 |
2009 |
| Quebec City CMA |
0.39 (-0.8%) |
0.39 (+0.0%) |
| Quebec (province) |
3.85 (-0.9%) |
3.84 (-1.0%) |
| FURTHER INFORMATION |
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Q4 2009 |
2009 |
| Quebec City CMA |
-3,200 |
+100 |
| Quebec (province) |
-33,200 |
-37,500 |
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Q4 2009 |
2009 |
| Quebec City CMA |
4.7% |
4,9% |
| Quebec (province) |
8.3% |
8.5% |
| Canada |
8.4% |
8.3% |
| FURTHER INFORMATION |
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QCA
zone |
Quebec
(province) |
| 2009f |
$8.7 G (-1.9%) |
$62.1 G (-0.04%) |
| 2008 |
$8.9 G (+7.0%) |
$62.1 G (+8.9%) |
| 2007 |
$8.3 G
(+19.9%) |
$57.1 G
(+10.1%) |
| FURTHER INFORMATION |
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Venture capital -
Quebec City CMA (total invested) |
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| Q4-2009 |
$40.3 M (+250.1%) |
| Q3-2009 |
$36.5 M (+524.2%) |
| 2009 |
$134.7 M
(+497.3%) |
| FURTHER INFORMATION |
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Quebec City CMA
Vacancy rate
Average net rent |
6.4%
$10.71/sq. ft. |
Downtown Quebec City
Vacancy rate
Average net rent |
4.9%
$11.24/sq. ft. |
Ste-Foy
Vacancy rate
Average net rent |
9.6%
$10.56/sq. ft. |
Northwest sector
Vacancy rate
Average net rent |
6.8%
$9.83/sq. ft. |
Lévis
Vacancy rate
Average net rent |
2.0%
$10.39/sq. ft. |
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Disposable personal
income per capita (2009) |
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| Quebec City CMA |
$28,345 (+2.0%) |
| Quebec (province) |
$25,945 (+1.6%) |
| Canada |
$28,750 (+0.6%) |
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| Quebec City CMA |
$39,259 (+2.2%) |
| Quebec (province) |
$36,610 (+2.1%) |
| Canada |
$42,156 (+1.4%) |
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Q4 2009 |
2009 |
| Quebec City CMA |
+1.7% |
+0.8% |
| Quebec (province) |
+1.4% |
+0.6% |
| Canada |
+0.7% |
+0.3% |
|
Retail sales ($
billions) |
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Q4 2009 |
2009 |
| Quebec City CMA |
11.4 (+1.9%) |
11.3 (-0.8%) |
| Quebec (province) |
95.6 (+1.5%) |
94.1 (-1.3%) |
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Total population
(millions) |
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2009 |
2031f |
| QCA zone |
1.091
(+1.0% vs 2008) |
1.178
(+8.0% vs 2009) |
| Quebec (province) |
7.829
(+1.0% vs 2008) |
8.838
(+12.9% vs 2008) |
| FURTHER INFORMATION |
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Active
population (millions) |
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2009 |
2031f |
| QCA zone |
0.757
(+0.6% vs
2008) |
0.675
(-10.9% vs
2009) |
| Quebec (province) |
5.424
(+0.7% vs
2007) |
5.257
(-3.1% vs
2009) |
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Housing
starts - Quebec City CMA |
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| Q4-2009 |
1,728 (+21.0%) |
| Q3-2009 |
1,632 (+62.2%) |
| Q2-2009 |
1,662 (-22.8%) |
| Q1-2009 |
491 (-43.5%) |
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October
2009 |
2008 |
| Quebec City CMA |
0.6% |
0.6% |
| Quebec (province) |
2.4% |
2.2% |
| Sources: Conference Board
of Canada/Quebec Institute of Statistics (ISQ)/Emploi-Québec/Office of
the Superintendent of Bankruptcy/Quebec Department of Tourism
(MTQ)/Altus Group/Canada Mortgage and Housing Corporation. |
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