Hershey in Granby, O-I in Montreal, Moderna in Laval, Creaform in Lévis are the main foreign direct investments that were announced in 2022 and that contributed to Investissement Québec’s record record in this area.
From April 1, 2022 to March 31, 2203, 125 projects materialized for total investments of 6 billion. This result compares to foreign investments of $2.3 billion in 2018-2019, before the creation of its Investissement Québec International (IQI) division. These figures were revealed by IQI at a press conference on Friday morning.
The majority of investments come from subsidiaries of foreign companies already established in Québec.
In detail, the chocolate manufacturer Hershey is expanding its Granby factory at a cost of 30 million. Subsidiary of the American Ametek, Creaform, active in portable 3D solutions and engineering services, has a target of investing 80 million. Moderna is building a vaccine factory in Laval and O-I has purchased equipment for 70 million in order to modernize its production of glass containers.
IQI also mandate to boost exports. According to the organization, its 4,000 business accompaniments generated 3.1 billion in sales outside Quebec, more than 3 times the result obtained in 2018-2019.
