Question Period Note: CED's support for economic development in Montreal East

CED's support for economic development in Montreal East

• Canada Economic Development for Quebec Regions is sensitive to the economic reality of Montreal East and is committed to its development.

• Canada Economic Development for Quebec Regions supports the community's efforts to develop a common vision and bring about promising structuring projects for Montreal East.

• Since November 2015, CED has been involved in 137 projects with assistance totaling over $67 million and generating investments of over $265 million in Montreal East.

Canada Economic Development for Quebec Regions will continue to work with all partners to support projects that contribute to the economic growth of the eastern part of the metropolis, within the limits of its programming and financial capabilities.

• From a socio-economic standpoint, Montreal East faces structural challenges that are holding back its development due to a large inventory of contaminated land, the result of a heavy industrial past in the petrochemical industry, as well as under-investment in transportation infrastructure.
• According to data from the Chambre de commerce de l'Est de Montréal (CCEM), Montreal East, defined as the area east of St-Laurent Boulevard, is home to 32,000 businesses and represents almost half of Montreal's surface area.
• The CCEM indicates that nearly a quarter of households would fall into the low-income category, with an unemployment rate of 9.2%, compared to 7.0% for the Montreal MRC and 5.2% for the province.
• In 2018, the Quebec government and the City of Montreal agreed on a Declaration to revitalize Montreal's east end, one of whose 3 axes was to foster innovative and inclusive economic development. In the wake of this commitment, the CCEM is acting as a federator to mobilize key players and implement a shared development vision for the eastern part of the metropolis.
• On June 16, 2022, CED authorized a non-repayable contribution of $370,000 to the CCEM to enable it to implement an approach aimed at raising the level of economic activity in the eastern part of the island. The assistance was announced on February 27, 2023.
• CCEM is the partner that mobilizes key players and implements a shared development vision. The objectives of its approach are to help dozens of promising projects emerge that will promote the transformation of the territory and ensure the development of a diversified, innovative and inclusive economy. The projects will stem from a development agreement for Montreal East, covering economic, social and environmental aspects, signed by local players who will act as project leaders.
• Supported by various players in civil society, D'est en Est initiative aims to mobilize players to carry outprojects and take concrete action to accelerate the revitalization of the east end of the metropolis. It is led by a steering committee that includes the CCEM, PME MTL Est-de-l'Île and Centre-Est, and the Alliance pour l'Est de Montréal.
• Le Sommet de l'Est will be held on November 13, 2023, during which, various stakeholders will unveil the actions they propose to take over the next three years to revitalize the eastern part of Montreal. Official invitations will be sent to Prime Minister Justin Trudeau and Quebec Premier François Legault. Mayor Valérie Plante has reportedly confirmed her participation.
• The agreement with CED may cover the cost of organizing the Summit.
  * The 2021 federal budget quoted this :

6.5 Local and regional development
* Promoting jobs and growth in all communities
The government remains open to new approaches to foster innovation, help businesses grow and create new jobs, and will explore how it can partner to better support development opportunities for Canadians in all regions, including Montreal's east end.

The economy of Montreal East has been hard hit by the major industrial restructuring it has undergone in recent decades. CED financially supports the efforts of the Chambre de commerce de l'Est de Montréal (CCEM) and remains on the lookout for any structuring project that could contribute to raising the level of economic activity in the eastern part of the island.