Investissement Québec's productivity innovation tour inspires innovation across Quebec
Investissement Québec launched its Productivity Innovation Tour in the Outaouais region, an initiative aimed at encouraging businesses to invest in innovation and increase their productivity and competitiveness. The tour, conceptualized by Investissement Québec, will be hosting events in nearly 30 cities across Quebec until autumn 2024, focusing on various topics such as automation, digitization, international marketing, and the workforce.
President and CEO of Investissement Québec, Guy LeBlanc, emphasized the strategic importance of boosting productivity in Quebec's companies, "At Investissement Québec, we have ordained the productivity of our corporations as an imperative of strategic significance. Armed with financial, technological, and strategic support, we pledge to orchestrate the triumphant crescendo of their technological transition. Yet, it is in these gatherings, amid luminaries and pioneers, that the alchemy of transformative inspiration unfolds."
During their stop in the region, Investissement Québec announced support for six companies, providing financial assistance totaling nearly $3.6 million CAD from both Investissement Québec's own funds and the Quebec government's ESSOR program. Boulon Éclair, a Gatineau-based manufacturer and distributor of fasteners and anchors, received assistance to support their growth and automate production. Distillerie du Square and Lofts du Village, part of the Old Chelsea Square recreational and tourism project, obtained loans to acquire new equipment and construct the lofts. EPSI, a consulting firm and human resources partner, secured funds to redesign its online survey platform and market its new solution. GoLibro®, a division of Imprimerie Gauvin Ltée, received financial support to expand its on-demand book printing service. Investissement Québec supported Revêtement industriel Prizma, an electrostatic powder coating and industrial liquid paint company, in their automation and re-engineering project to enhance competitiveness and efficiency.
Guylaine Larose, the Regional Director for Outaouais, expressed pride in supporting businesses in their growth, productivity, and digital transformation plans, "We need to continue to innovate. Despite a worrying economic context, we remain optimistic, and Investissement Québec will be there alongside companies to support them in their projects."
Recent productivity data has indicated that Quebec is making progress in closing the gap with the rest of Canada. Between 2016 and 2021, Quebec's manufacturing productivity showed a positive annual change of 0.07%, unlike Ontario (-0.41%) and Canada (-0.35%). Additionally, labour productivity across all sectors in Quebec grew by 5.6% between 2018 and 2021, surpassing Canada (2.5%) and Ontario (1.5%). A study by the Institut de recherche en économie contemporaine (IRÉC) commissioned by Investissement Québec also demonstrated promising trends in the Quebec manufacturing sector's adoption of digitization, robotization, and cutting-edge technologies.
With the Productivity Innovation Tour underway, businesses in Quebec have an opportunity to embrace technological advancements, increase their competitiveness, and drive economic growth in the province.
Photo caption: Investissement Québec brought the Innovation Productivity tour to the Outaouais region, inspiring businesses to invest in their growth and competitiveness.
Photo credit: Courtesy of Investissement Québec.