Economic Radar - Q1 2011

Business Environment

US AIrways announces new, daily, year-round service between Philadelphia and Quebec City

US Airways Express carrier Air Wisconsin will operate the three daily flights with 50-seat CRJ-200 regional jets. Book tickets starting February 12, 2011. The first flight to Quebec City is on June 2, 2011.

Economic update : 2011 first quarter

Economic update : 2011 first quarter

According to the latest published data, the Quebec City metropolitan region recorded solid economic growth in 2010, with GDP rising by 3.7% (one of the best performances in Canada). Meanwhile, more than 15,000 jobs were created and unemployment held steady at 4.9%. In addition, housing starts reached a record high of 6,650 units. Some 40 private non-residential construction projects valued at approximately $1.7 billion were completed or launched despite the uncertain economic climate.

The first-quarter results for 2011 indicate that the gains made in 2010 had a positive knock-on effect this year. The employment market showed renewed vigour, while various new residential construction projects kicked off or are about to begin. In the non-residential sector, various favourable factors will contribute to the launch of major new initiatives.

ITC and electronics

Amerys, a French technology firm, sets up operations in Québec City

Amérys, a France and Quebec-based firm, has selected Quebec City to develop a new technology aimed at facilitating interactions between local residents and public institutions.

Life sciences

Ottawa signs $425-million deal for vaccine if pandemic flu strikes

The federal government has announced a new 10-year pandemic flu vaccine contract with GlaxoSmithKline, valued at more than $425-million. The contract is intended to ensure a secure supply of vaccine for Canadians in the event of a future influenza pandemic and reduce the possibility of delays in delivery and distribution.

Environment and energy

H2O Innovation India opens manufacturing plant

H2O Innovation has announced that its Indian joint-venture H2O Innovation India Ltd., based in Mumbai, India, has opened its first manufacturing plant near Vadodara, India, and secured $4.2 M in bookings of water treatment systems and equipment for industrial Indian customers within its first year of operation.

Tourism

The 50 greatest cultural destinations: Quebec, Canada

You might not believe it, but hidden within the vast expanse of North America is a little slice of 17th-century Europe. Founded in 1608 by the 'Father of New France', Samuel de Champlain, francophone Quebec City has clung fiercely to its roots and feels, architecturally and culturally, distinctly European.

Québec City best culture and sightseeing destination in Canada

Québec City Tourism is pleased that the Québec City area has been named best destination for culture and sightseeing in Canada by travelers who consult the website Trip Advisor.

What's more, according to travelers who use Trip Advisor, Québec City is the 7th most romantic destination in the world and the 4th best destination in Canada (2010 data).

Food processing

Vigneault Chocolatier: $1,3 Million expansion project

Still in expansion mode, Vigneault Chocolatier, a Québec-City company specialized in biological chocolate manufacturing, has just received a $500,000 help from the "Fonds d'investissement en transformation alimentaire (FITA)" to complete the financing of its $1,3 million expansion project.

Awards, Distinctions and Promotional Activities

Québec and Lévis in the TOP 25 on Canada’s best places to live rankings

Economic magazine Money Sense has recently published its yearly Best Places To Live rankings. 180 Canadian cities were rated based on home affordability, climate, prosperity, crime rates, access to health care and lifestyle, with subcategories in each area. Among these, two cities of the region ranked very well, Lévis ending 13th and Québec City 25th.