According to the 2013-2014 American Cities of the Future rankings compiled by UK-based fDi Magazine, which is published by the Financial Times Group, Quebec City placed in the Top 10 in three categories (Mid-Sized American Cities of the Future, Business Friendliness and Best fDi Strategy). A total of 422 cities in the Americas were evaluated by fDi Intelligence, a division of the Financial Times, and divided into five groups based on population size. Quebec City is in the mid-sized cities group, which includes urban areas with populations of more than 200,000 inhabitants and metropolitan regions with more than 750,000 inhabitants.
Cities in this category are evaluated based on criteria such as GDP growth, unemployment rates, business start-up/operating costs, value of investment projects, quality of educational institutions, availability of efficient transportation infrastructure and the presence of a strong knowledge-based economy. Promotional strategies and quality of life are also taken into account. Quebec City’s fourth-place finish in this category demonstrates that it offers entrepreneurs and investors a first-rate business environment.
For the very first time, Quebec City made it into the Top 10 in this category this year. Business-friendly cities are those in which it is relatively easy to start up and operate a company. Related criteria include the presence of strong knowledge-based industries, the number of foreign investment projects and their economic benefits, tax policy and the number of days required to start up a business. Quebec City’s fourth-place finish in this category demonstrates that regional efforts to create a dynamic and welcoming entrepreneurial ecosystem are paying off.
This category recognizes strategies aimed at promoting and attracting foreign investment. Initiatives designed to provide investors with information on a city’s competitive advantages and information quality/quantity are considered, along with incentives for investors, the presence of major development infrastructure/projects and the overall vision for fully optimizing a city’s potential attractiveness.
“By doing so well in these categories, Quebec City is sure to draw the attention of foreign investors seeking to capitalize on a business environment that facilitates the successful completion of their projects. Our region has much to offer, including a solid and dynamic economy, a diverse industrial base, state-of-the-art infrastructure and research facilities, low operating costs, a pool of highly skilled workers and unbeatable quality of life,” said Carl Viel, President and CEO of Quebec International.