May 4 2008, Vol. 12, No. 25
Economic Indicators:
• According to Statistics Canada, Québec’s GDP rose 2.4% in 2007, compared to 2.1% in Ontario. Personal output increased by 4.7%, compared to 3.4% in Ontario.
• Statistics Canada reports that at the Port of Montréal, including Contrecoeur, 2005 activity rose 3.7% to 24.1 million tonnes. This was the result of higher shipments of gasoline and aviation turbine fuel and other manufactured and miscellaneous goods.
• Quebec manufacturing sales rose 2.1% to $150.4 billion in 2007, led by strong gains in primary metals, food and aerospace. The province accounted for about 25% of Canadian manufacturing sales in 2007.
Real Estate:
• U.S.-based Maison de vie Sunrise (Masterpiece Living) will invest $90 million to build four residences for seniors in the Montréal area.
• La Presse reports that various investors will be investing up to $400 million to build four residential complexes, including hotels and condos, on the property bounded by boul. René-Lévesque, Guy and Mackay.
Investments:
• Wall St. investment firm Morgan Stanley will invest $200 million to develop a global IT centre in Montréal, creating an additional 300 jobs. The Québec government is supporting the project with $60 million in tax credits.
Jobs:
• According to Statistics Canada, the number of Québecers on payroll rose 0.7% in February to 3.288 million (year-over-year/seasonally adjusted). Since December 2007, the number is up 0.2%.
• Québec experienced the second largest percentage drop of citizens collecting employment insurance in February. The number dropped by 10.2% to 158 170 (over 2007/seasonally adjusted).
Congratulations:
• Montréal-based companies Accedian Networks, Heptacube, MindHabits and OmniGlobe Networks have been named by Branham Group in its list of top 25 emerging firms.
• Blainville-based D.L.G.L. Ltd. has been selected as Canada’s best place to work by the Great Place to Work
Institute.
Acquisitions:
• Couche-Tard has acquired 83 convenience stores in Missouri and Illinois. Sixty-nine of the stores operate under the Convenient Food Mart banner, from Spirit Energy.
Source: Forum Action Québec & PIRA Communications.
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