2021 economic recovery plan

To stay on track during the pandemic, the city has implemented a plan to support Montréal’s economy in 2021. The plan, titled “Acting Now to Prepare Recovery,” provides for a $60 million investment.

Launching a plan with 10 measures

The plan, which focuses on 10 measures, has a one-year span and aims to support sectors that have been made more fragile by the crisis; to set the stage for a green, resilient and inclusive recovery; and to mobilize all partners around the city’s recovery. 

These measures are a continuation of “A Boost for Recovery - Acting Now,” which was launched in June, and the “Acting Now - Buying Local at the Heart of Our Actions” that was unveiled before the holidays.

1. A strategy for a strong, resilient downtown area

  • Support dynamic activity in the arts, commercial and tourist sectors, which drive the economy of the downtown area.
    • Support consolidation or business development for downtown companies.
    • Create a campaign to promote the quality and diversity of Montréal businesses, fine dining and independent restaurant owners.
    • Organize activities on commercial streets and supports events and festivals to promote attractiveness and economic vitality. 
  • Improve visitors’ experience. 
    • Implement developments to make our public spaces more accessible and more attractive.
    • Improve visitors’ experience by investing in beautification and cleanliness initiatives. 
  • Guide long-term transformation.
    • Coordinate a collective process by mobilizing Canada’s six largest cities. Learn more. 
    • Co-create, with civil society and the business community, a renewed strategy around the major transformations in the downtown area.

2. Boosting commercial vitality

  • Ensure vitality on commercial streets and support Montréal’s commercial development corporations.. 
  • Create a strategy for acquiring commercial spaces. 
  • Support buying local and commercial.

3. Increased support for arts/creative industries

  • Support companies in this sector of activity.
    • A call for projects for art works to be launched across Montréal. 
    • One-time financial assistance for companies that are not supported by emergency programs. 
    • Develop new tools for funding, resource pooling and data sharing . 
  • Launch a subsidy program to help performance spaces go digital and soundproof their spaces.

4. Pivoting to a sustainable, circular economy

  • Support companies in moving towards ecologically responsible business practices and carrying out projects to reduce their carbon footprint.
  • Support the transition to models of circular economy. 
  • Support initiatives for sustainable mobility and accessibility to employment hubs.

5. Social economy: An ally in recovery

  • Offer subsidies for renovation and acquisition by boosting the social economy component of the “Accelerating Sustainable Investment” program.
  • Support developmental projects to address the challenges of ecological transition and social inclusion. 
  • Reinforce support for social economy businesses. 
  • Implement a pilot project to encourage residents to invest in collective companies by purchasing community bonds, for example.

6. Food independence and urban agriculture

  • Implement a biofood innovation hub based on circular economy and provide specialized guidance. 
  • Accelerate commercialization and development of urban agriculture initiatives. 
  • Accelerate the development of Montréal’s public markets and increase the amount of fresh products that are available.

7. Adapting land development to the economy of tomorrow

  • Accelerate land development.
    • By welcoming and guiding investment projects.
    • By targeting strategic planning sectors.
    • Through new business models around building affordable housing projects and developing major urban sites. 
  • Support the development of innovation hubs and zones. 
  • Promote land development opportunities and make city assets available to the ecosystem.

8. Innovation that serves recovery

  • Support startups through support for business incubators and accelerators, linking initiatives with large companies and projects in targeted areas.
  • Continue the support for transforming business models and takeovers.
  • Develop data and economic analysis to reinforce collective intelligence and support recovery.

9. Human beings at the heart of our economy

  • Educate and equip the entrepreneurial ecosystem to address the mental health needs of business owners.. 
  • Continue the “Entrepreneuring Together” program that will help more vulnerable people to integrate the workforce through entrepreneurship or development of strategic skills. 
  • Respond to the skill needs of Montréal companies while supporting customized training for people in economically precarious situations, in collaboration with institutions of higher education. 
  • Continue the Affaires Montréal hotline, which offers guidance and support services for Montréal companies.

10. Outreach as the foundation of a metropolis of international calibre

  • Maximize companies’ business links and the benefits of commercial missions. 
  • Enhance attractiveness and stimulate tourism, both regionally and nationally.

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