Montreal News | Local Breaking | CTV News Montreal
European companies increasing investments in Montreal
Foreign investors are pouring money into Montreal at record rates.
In 2015, companies invested $1 billion in the city.
Two years later, that number doubled to slightly over $2 billion.
Through the first six months of 2018, investment is already at over $1.3 billion, an 87 percent increase than this time last year.
There are multiple reasons for the massive increase.
With 11 universities and dozens of colleges, Montreal is seen as a rich talent pool of potential employees.
There are also tax credits that have incentivized the idea of investing in the province, especially for the tech sector.
Then there are things like daily expenses and safety.
“A factor that we feel is more and more important is the cost of living and security,” said Hubert Bolduc, president and CEO of Montreal International. “Montreal is a non-expensive place to live and it’s a very secure place to live.”
Montreal International said that American investment in the city is less than 30 percent, with the majority of companies doing business in Montreal being European.