These days, many French SMBs are setting up operations in Québec. What do these companies have in common? An innovative spirit and a desire to build on their success in leading industries. What’s drawing them to Québec? Conditions unparalleled anywhere else in the world, at the gateway to the Americas.
Investissement Québec’s Laurence Monari has been tracking the trend. “In March alone, five new files were opened for companies looking to set up operations here in gaming and ICT, and those files are already being finalized.”
French companies large and small based in Québec
Large French corporations like Ubisoft and Veolia have long had a nose for success here, but the concept of “small is beautiful” also has a future. French SMBs come and inject new energy into highly specialized niches while taking advantage of Québec’s skilled, stable and creative workforce, attractive financial and fiscal environment, unique brand of multiculturalism and vibrant business ecosystem.
French executives generally choose industries whose many competitive advantages make for winning conditions. Québec’s video game industry, ranked third in the world, offers gaming entrepreneurs a talented labour pool as well as generous tax credits. In aerospace and transportation, French SMBs benefit from the presence of major contractors like Bombardier, CAE, Bell Helicopter, Pratt & Whitney, Alstom and Paccar. In the life sciences, the high-quality infrastructure and outstanding research are big pluses for French biotech and pharmaceutical companies. The agri-food industry also has much to offer, with its substantial production capacity, effective supply network and lower input costs.
Not only is the support provided by Investissement Québec entirely focused on the client’s success, but partner organizations are accustomed to working together.
Québec does not just attract investment: it also offers tax holidays for foreign experts, meaning that French companies can come here with their specialists and even their executives. Many settle in Québec for the quality of life, of course, but the business environment is a big draw as well.
An article explaining why French companies are so interested in Québec:
Les PME françaises prennent d’assaut le Québec , Les Affaires, 19 avril 2014 (in French).
25 avril 2014