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.
Contact Affaires Montréal