Montréal, April 1, 2011 - Clément Gignac, Minister of Economic Development, Innovation and Export Trade, is pleased to announce that the new Investissement Québec, resulting from the merger of Société générale de financement du Québec and the former Investissement Québec, officially began operations today. "A new government-owned corporation has been created, which will bring together the most extensive economic development expertise ever assembled in Québec," declared the Minister.
The merger of the two corporations, which was announced on September 15, 2010, will enable the new team to offer Québec companies wide-ranging expertise and a full spectrum of business solutions to better support them throughout all the stages of their development, from start-up through to exports. "Hundreds of entrepreneurs count on us today, just as they did yesterday. With our loans, loan guarantees and equity investments, there is nobody better able to support businesses through every project development stage and to attract foreign investment to Québec," stated the new corporation's president and chief executive officer, Jacques Daoust.
Since the merger was announced, a merger committee has provided for the reorganization and formulated a strategic plan; it has also seen to reducing annual operating costs. "The transition team has completed a sizeable task in less than six months. I'd like to underscore the cooperation of all employees and managers, who maintained the same quality of client service throughout the transition period, despite the apprehensions associated with such a change," said Clément Gignac.
The merger of the two corporations will allow for employee downsizing and reduced operating costs due to the elimination of positions, voluntary departures and a decrease in expenditures, related in particular to information technology, rent, and communications.
"Our government is demonstrating its leadership by simplifying the services offered to Québec businesses and making the new corporation wealthier, more efficient and more powerful. A wider array of tools is now available, and the expertise of employees of the former corporations is complementary. I'm proud of the work that's been accomplished and I salute the success of this merger. Everything is coming together to ensure that entrepreneurs will benefit from this enhancement," stated Clément Gignac.
Office of the Minister of Economic Development,
Innovation and Export Trade
1 866 870-0437