2021 economic recovery plan

Last updated March 24, 2021

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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.