Over 200 players in the business sector attended the meeting at Buffet Crystal, and were greeted with both a full meal and a menu of economic and demographic statistics for the coming years.
The meeting, under the theme, ‘Maintaining vitality in St. Laurent,’ featured a report on economic activity in the borough, details on the main projects currently underway, as well as an investment plan to develop commercial arteries and industrial sectors.
One major issue that came up during discussions was immigration, mainly its flow and management, especially in the business sector.
The overall picture, whether it’s St. Laurent, Montreal, or even Quebec, is positive, according to the mayor. “The news is good,” DeSousa said.
With a low unemployment rate – the lowest in 30 years – the optimism is widespread. The construction sector took in nearly $1 billion between 200 and 2006 in St. Laurent alone. The investments in manufacture brought in $375 million last year.
But the mayor warned people not to get too comfortable: economic giants, like China and India, may cause nightmares for the local economy in the near future.
“The ‘Succeeding in Montreal’ program announced last week includes $60 million over 10 years for commerce and industry […] Many sectors in St. Laurent will benefit from this,” DeSousa said of the economic revitalization initiative.
The lacking workforce is a crucial point that needs to be solved soon to avoid future problems. Many sectors (see table) are having difficulty recruiting new workers, and this problem may worsen.
The scenarios the immigration and cultural communities minister has predicted need to be considered. On top of the difficulties competition with other industrialized countries is causing, DeSousa pointed out that the immigrant workforce is being “wasted:” the unemployment rate among new arrivals is at 18%. “Our businesses need to realize the importance of integrating an ever-growing immigrant workforce, and to do so efficiently,” DeSousa said. (Translated by Elyse Amend)
The demographic challenge<@Bb>+ 1,5%<@$p>: the forecasted rise in employment
<@Bb>Sectors lacking workforce<@$p>: telecommunications, software, aerospace, bio-pharmaceuticals, and health insurance
In addition, about 40 specialized educational programs cannot find enough students to fill the employment needs of businesses.
