LAVAL, QC, April 28 /CNW Telbec/ - For many businesses, 2009 was a transition and consolidation year in which set-up or expansion projects were postponed to allow them to better position themselves for the recovery. However, some were able to move ahead with their plans and as such, Laval welcomed a number of new companies to its territory and saw many growth projects come to fruition. Thus, in Laval, entrepreneurship was alive and well despite the more cautious economic climate around the world.
Investments, all sectors combined, were just over $1.5 billion in 2009. Institutional investments rose sharply, to $438 million. Accounting for 39% of all investments, the residential sector turned in a solid performance, while the industrial sector held up quite well considering the economic situation, with $422.6 million or 28% of the total.
Leading to the creation of 1,124 jobs, industrial investments consisted of 29 new arrivals and 430 expansion projects, the latter accounting for 92% of all investments in 2009.
INVESTMENTS - CITY OF LAVAL - 2009
Sectors Investments % Comments
Industrial $422 647 732 28% 459 projects
Commercial $59 381 300 3.9% 297 projects
Institutional $438 030 058 29.1% 55 projects
Residential $589 131 765 39% 3 052 permits issued
Total $1 509 190 855 100%
Source: LAVAL TECHNOPOLE - Special compilation / City of Laval - Urban
BREAKDOWN OF INDUSTRIAL INVESTMENTS - CITY OF LAVAL - 2009
Types of Investment Investments %
Land $19 061 035 5%
Building $60 044 735 14.8%
Machinery and equipment $82 236 474 20.2%
R&D $242 370 038 55%
Training $18 935 451 5%
Total $422 647 733 100%
Demography and employment
According to the Institut de la statistique du Québec, Laval's population grew from 338,224 to 391,893 in 2009 and is projected to break the 400,000 mark in 2010.
In terms of jobs, according to Statistics Canada, there were 10,648 employers on the territory in 2008, providing 140,000 jobs.
In fact, despite the situation, Laval's labour force expanded by 0.7% and total employment grew by 0.3%. As a result of these increases, Laval had the highest participation and employment rates of all Quebec's regions: 68.5% and 63.7%, respectively. These rates were also higher than the Quebec and Canadian average.
For its part, unemployment rose slightly, from 6.7% in 2008 to 7% in 2009. Still sixth in Quebec, Laval's jobless rate is 4% lower than on Montreal Island (11%), 1.3% lower than for Quebec as a whole, and 1.5% lower than the Canadian figure.
For LAVAL TECHNOPOLE President and Executive Director Pierre Desroches, 2009 was a good year despite the tough times some companies faced: "Although down slightly from 2008, we are satisfied with Laval's investment figures, which were similar to those recorded from 2005 to 2007. We often speak of a balance in Laval's economic structure. In 2009, institutional investments reached an all-time high of $438 million. The residential sector also performed well with investments of $589.1 million, placing it in the first quartile of all investments made in recent years. At $422.6 million, industrial spending dipped slightly but much less than we expected at the beginning of the year. In all, despite the situation, investments totalled just over $1.5 billion, making 2009 another billion-dollar year for Laval." commented Mr. Desroches.
SOURCE Laval Technopole
For further information: For further information: Sylvie Gauthier, Marketing and Communications Director, LAVAL TECHNOPOLE, (450) 978-5961, Cell: (514) 217 6371, email@example.com