Montréal, March 18, 2021 – The Québec government is extending a refundable loan of up to US$40 million (CAN$54.8 million) through Investissement Québec to AppDirect Canada, a subsidiary of AppDirect, to support the development of cloud-computing solutions. Based on the number of jobs created, an interest write-off will apply.
Québec Premier François Legault made the announcement today alongside Pierre Fitzgibbon, Minister of Economy and Innovation.
This investment will create 730 high-quality jobs over a five-year period, adding to the 190 existing jobs at the company's Montréal facilities. This represents an estimated $252.8-million increase in payroll. The facilities will become the company's Canadian headquarters.
The project aims to ramp up the company’s activities at its Montréal business centre and give it a distinct advantage in software solutions thanks to the development of cutting-edge applications for digital invoicing services.
“This investment will be transformative for our economy. Québec is already a major player in the IT industry. We have researchers and universities that are recognized around the world, including in artificial intelligence. We also have a large number of innovative companies, both big and small. But most importantly, we still have enormous growth potential. And AppDirect is sending out a clear signal by selecting Montréal. The message is that Québec is one of the best places in the world for investing in information technologies, which helps consolidate the city’s status as a North American hub of innovation.”
François Legault, Premier of Québec
“There has been a growing number of large job-creating projects in Québec in recent months. In addition to contributing to the growth of the new economy, AppDirect’s project will strengthen the AI and digital technology ecosystem in Montréal. AppDirect’s digital commerce platform will give Québec companies a gateway for commercializing their software applications and cloud-computing services. It is initiatives like this one that enable Québec to position itself as a hub of technological innovation on the global stage.”
Pierre Fitzgibbon, Minister of Economy and Innovation
"Montreal is a technology hub in Canada, and this investment from the Québec government will assist AppDirect in its mission to make technology universally accessible so that everyone can prosper in the digital economy. With a greater presence in Montréal, we are confident that we will find the talent and ideas we need to continue to grow, drive innovation and be a leader in subscription-based commerce. "
Daniel Saks, co-founder and Co-CEO of AppDirect
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