October 2012

Business Environment

Economic Update Quebec City Metropolitan Region - October 2012

Economic Update Quebec City Metropolitan Region - October 2012

The Quebec City census metropolitan area (CMA) turned in a decent performance in the third quarter of 2012. The low unemployment rate (5.2%), the addition of 1,161 housing starts, the projects under way (valued at $7.5 billion) and the local tourist attractions helped position the region among Canada’s top-performing economies. Needless to say, it is not completely immune from global uncertainties, which offset the increase in certain indicators and take time to dissipate. The slowdown observed in Quebec City’s employment market this summer offers us a reminder of that fact.

ITC and electronics

Thales inaugurates new Research and Technology Canada centre in Quebec City

Thales inaugurates new Research and Technology Canada centre in Quebec City

Thales Canada announced that its R&D facility in the Parc Technologique is now an official Thales Research and Technology (TRT) centre – the fifth in the world and first in North America. The inauguration of the new facility will strengthen Thales Canada’s role beyond development to research, maintaining a leading position with the creation and transfer of technologies.  

“Thales has grown its research business in Quebec City over the past decade to become the major defence and security technology company in this region and this success and the richness of the Quebec City R&D community is being recognized by Thales Group with the creation of Thales Research and Technology Canada,” said Paul Kahn, President and CEO, Thales Canada.”

Life sciences

Medicago and Philip Morris Products Sign Commercial Agreement for Influenza Vaccines in China

Medicago announced the signing of a licensing agreement with Philip Morris Products SA, a subsidiary of Philip Morris International, the leading international tobacco company with products sold in approximately 180 countries. Under the agreement, Medicago grants PMP an exclusive license to develop, commercialize and manufacture Medicago's pandemic and seasonal influenza vaccines for China. In addition, Medicago has signed an exclusive, worldwide license for a portfolio of plant-based protein development technologies from PMP.

Environment and energy

CO2 Solutions Granted Broad U.S. Patent

CO2 Solutions, an innovator in the field of enzyme-enabled carbon capture technologies, announced today that it has been granted U.S. Patent 8,277,769, “PROCESS FOR TREATING CARBON DIOXIDE CONTAINING GAS”.  The patent broadly covers the use of the enzyme carbonic anhydrase (CA), or an analogue thereof, for the efficient capture of carbon pollution from various gas streams with any aqueous solvent or solution.

Transportation and materials

IPL receives its largest wheeled cart contract ever

IPL Inc., one of North America's leading manufacturers of plastic products, is pleased to announce that it has received its largest contract ever in the environment sector. The $14.5M contract, from the City of Winnipeg, Manitoba, is for production of 343,000 wheeled carts. Production for the order got under way at IPL’s Saint-Damien plant in April.

Tourism

Holland America boosts its presence on the St. Lawrence

International Cruise: announcement of an agreement reached with Holland America Line. This agreement will serve to significantly increase summer cruise ship traffic on the St. Lawrence River. Using the Veendam cruise ship, the company plans to add at least eight turnaround operations (embarking/disembarking) in Quebec City during the summer over a three-year period beginning in 2013.

Insurance

A.M. Best Assigns Ratings to SSQ, Life Insurance Company Inc.

For the first time in its history, SSQ, Life Insurance Company Inc. has received a credit rating from A.M. Best Co. The credit rating agency today published the results of its analysis and has assigned a financial strength rating of "A- (Excellent)" to SSQ, Life Insurance Company Inc. The agency has also assigned an issuer credit rating of "a-". The outlook for both ratings is stable.

Food processing

Île d'Orléans: Island of Culinary Treasures

Just a short hop from Quebec City, picturesque Île d’Orléans is home to a treasure trove of homemade culinary delights like old-world cider, black currant cassis and artisanal cheeses. Here’s our road map of the most delectable stops. Quebec City is one of my favourite cities to visit in Canada, or anywhere else, for that matter. Most deservingly, it’s consistently rated one of the top Canadian destinations for both Canadian vacationers and worldwide travellers alike. As it is one of the oldest cities in North America, it has much going for it — breathtaking scenery, awe-inspiring architecture, a culture of fine arts and incomparable cuisine. What a myriad of gastronomic delicacies there are to be had!

Awards, Distinctions and Promotional Activities

Site Selection magazine’s “Best to Invest” rankings for Canada: Quebec International and the Quebec City region shine once again!

The Quebec City region and Quebec International have shone once again in US-based Site Selection magazine’s “Best to Invest” rankings for Canada, which recognize the country’s economic development champions. The region placed second in the list of “Top Canadian Metros”, while Quebec International was once again named the “Top Canadian Economic Development Group”.