Today the Québec government presented its new economic policy, which includes measures to enhance business performance.
As part of the job-investment rate package, surplus electricity will be supplied at a reduced rate to businesses that invest in new projects in Québec.
The job-investment price offering will apply to new investment projects entailing new demands for 15 MW and over associated with a development niche identified by the government in concert with Hydro-Québec and Investissement Québec.
The government, Hydro-Québec and Investissement Québec will establish and implement the job-investment rate package, which will not lead to any increases in electricity rates. The government’s focus is on job creation and investments in sectors it deems to be priorities, such as:
To attract major investments in the transportation electrification sector, the government will allocate an additional $50 million to the Economic Development Fund.
The funding will make it possible to capitalize on Québec’s abundant natural resources and substantial surpluses of low-cost electrical power to produce goods for which there continue to be strong export business opportunities.
As part of Québec’s Economic Policy – Putting Jobs First, the government has announced three tax measures designed to stimulate business investment:
These initiatives will benefit close to 4,000 companies and represent approximately $80 million in support over a full year. They will cost slightly more than $200 million by 2016–2017.
These three measures will be included in Québec’s forthcoming industrial policy.
October 7, 2013