A major economic hub

Saint-Laurent Economic Development is a key organization for companies in the area, offering a multitude of services to carry out retention projects and company expansion. Its director general, Daniel Dicaire states that the 4,000 companies generate 115,000 jobs.

Four sectors are distinguished in the area: the manufacturing sector with 800 companies, health and life science, aeronautics, information technology and the ‘diversified economy.’

"There are a variety of companies so to limit them to three categories would be unjust," said Dicaire.

If Saint-Laurent is known for its renowned companies, “80 percent of jobs in Saint-Laurent are concentrated in companies of less than 50 employees,” emphasized Dicaire.

What is the economic force of Saint-Laurent? "It is synergy," replied Robert Petit, director general of the Chamber of Commerce and Industry of Saint-Laurent.

Petit stresses that the regular interaction of the various organizations and the knowledge and the respect of the mandate of one another make it possible for Saint-Laurent to better develop its economy.

Saint-Laurent Economic Development, along with the Local Development Centre (CLD) Centre-West, also offers a selection of services to support the opening and growth of companies in Saint-Laurent. This service offers, among others, local funds up to $50,000, mainly intended for companies in the launch phase or with the intention to create at least three jobs. The loan and interest are refundable over a maximum period of five years.

If for the expansion projects the company expresses a need for investment, subcontracting or to export, this year, Daniel Dicaire notes that for the first time, the amount, intended for research and development, was most in demand at nearly $300 million.

"I never saw such a high figure,” he said. “It is the first time that this happened. Last year, 54 percent of the investments were directed at research and development. It is major in Saint-Laurent." (Translated by Michael Beigleman)