American Cities of the Future 2011/12 ranking published by Financial Times Group - GREATER MONTRÉAL AMONG NORTH AMERICA'S MOST PROMISING CITIES FOR ATTRACTING FOREIGN INVESTMENT

MONTREAL, May 2 /CNW Telbec/ - The April-May 2011 issue of fDi Magazine published by Financial Times Group lists Greater Montréal as one of North America's most promising cities in terms of attracting foreign investment. Metropolitan Montréal is ranked sixth in the fDi American Cities of the Future 2011/12 top ten, out of 405 North and South American cities considered for the study.

The fDi Intelligence team compiled data for each of the cities and compared them according to six categories of indicators: economic potential, cost effectiveness, human resources, quality of life, infrastructures and business friendliness. Data on FDI strategy was also submitted by the economic development organizations representing each of the agglomerations, including Montréal International. Cities were also ranked according to size (all sizes, very large, large, small and micro) and their geographic position (America, North America and South America).

In the category of Major cities with more than 750,000 inhabitants, Greater Montréal stands out in particular for its economic potential (6th), FDI attraction strategy (6th) and its infrastructures (7th). In terms of FDI strategy, Montréal International stood out through several initiatives, including:

  • Developing FDI prospecting sector strategies for 2011-2013, in collaboration with its economic development partners and specifically the secretariats of the three Greater Montréal high technology clusters;
  • Optimizing the number of visits of subsidiaries or foreign firms established in the metropolitan region in collaboration with its economic development partners, which include local economic development corporations;
  • Prospecting high added-value FDI projects for the Greater Montréal region;
  • Taking part in major promotional events in priority areas for prospecting, in collaboration with economic development partners (Aeromart, BIO International Convention, MIPIM, Game Developers Conference, Paris Air Show - Le Bourget, Farnborough International Airshow, Cirque du Soleil missions, etc.);
  • Developing a complete range of promotional tools, including the Montréal International website which won an award from the International Economic Development Council (IEDC) in 2010 for its quality and originality.

"Greater Montréal offers a host of advantages to foreign investors—including operating costs that are among the lowest in North America, a workforce that is known for its skills and creativity, and an extensive network of universities and research centres. The region also boasts a number of highly competitive sectors that are recognized internationally, such as aerospace. In addition to these advantages is the presence of a number of organizations such as Montréal International, which help to position the Greater Montréal region as an attractive location for foreign investors," underlines Clément Gignac, Québec's Minister of Economic Development, Innovation and Export Trade.

"fDi Magazine ranks Montréal very highly in terms of economic potential. This high potential is due in part to the region's economic clusters. They enable Montréal to offer a dynamic economic model that fosters success—particularly in high-technology sectors. Montréal offers visionary entrepreneurs a unique business environment that provides the flexibility and support they need to forge new paths, collaborate and succeed," explains Gérald Tremblay, Mayor of Montréal and Chairman of the Communauté métropolitaine de Montréal [Montréal Metropolitan Community] (CMM).

"Metropolitan Montréal was not featured among the top 10 North American cities in the previous edition of the fDi Magazine rankings. Greater Montréal's envious position this year shows the solidity and dynamism of our metropolitan region's economy, which has bounced back from the recession more strongly than those of other North American cities. We are particularly proud of the ranking obtained by our FDI attraction strategy, which confirms our conviction that we are on the right track," declares Jacques St-Laurent, President and CEO of Montréal International.

For more information on the fDi American Cities of the Future 2011/12 rankings, click here.

About Montréal International

Montréal International (MI) was created in 1996 as a result of a private/public partnership. Its mission is to contribute to the economic development of metropolitan Montréal and to enhance its international status. Its mandates include attracting foreign investment, international organizations and qualified foreign workers, as well as promoting the competitive and international environment of Greater Montréal. Montréal International is funded by the private sector, the Communauté métropolitaine de Montréal (Montréal Metropolitan Community), the City of Montréal and the Governments of Canada and Québec.

Since its creation, Montréal International has helped to attract more than $8 billion in foreign investment to Greater Montréal. From these investments, close to 45,000 jobs have been created or maintained. To date, MI's activities have also allowed almost half of the 70 international organizations to establish themselves in the city and, attract and retain, close to 5,500 qualified foreign workers. To learn more, please visit MI Web site at: www.montrealinternational.com.

SOURCE MONTREAL INTERNATIONAL

For further information:

Benoît Lefèvre
Communications Advisor
Montréal International 
Tel.: 514 987-9323
benoit.lefevre@montrealinternational.com

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MONTREAL INTERNATIONAL

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