The Advisory Committee on the Economic Development of the Territory of Montréal presents its recommendations to increase vitality, agility and performance in economic development

MONTRÉAL, Oct. 22, 2018 /CNW Telbec/ - The Advisory Committee on the Economic Development of the Territory of Montréal, formed at the initiative of Mayor Valérie Plante, released its report today, entitled Bâtir une métropole prospère au profit de tous ses quartiers (building a prosperous city for every neighbourhood). The Committee studied success factors for improving performance in Montréal's economic development and guiding the Ville de Montréal's efforts in supporting strategic projects.

A favourable context and winning conditions
"Montréal and the entire urban area are enjoying a favourable economy," said Michel Leblanc, who chaired the advisory committee. "The city has a concentration of talent, dynamic cutting-edge sectors, and a confident business base. A number of development projects could take shape in the next few years. The time is right to create the conditions to accelerate investments, generate quality jobs and benefit every neighbourhood in Montréal."

"The Committee is confident that by adopting an ambitious vision and agility on the ground, the Ville de Montréal will maintain the city's momentum," Mr. Leblanc said. "The committee believes that the Ville de Montréal has the tools and the powers to create winning conditions. For example, the city must ensure that employment hubs have easy access to public transit. It needs to quickly amend municipal zoning and bylaws to reflect its priorities and facilitate economic development. It has to ensure neighbourhoods and economic development centres have infrastructure and equipment that reflects the particularities of each centre. It also needs to review the municipal business tax burden."

The urgency of developing the industrial east end of the city
"The redevelopment of huge pieces of land in the east end of the city presents challenges for the city administration," Michel Leblanc said. "The Committee believes that it's time to bring about a recovery in this area; the new Québec Premier has publicly committed to making it a priority and has promised public support for land rehabilitation in Montréal East. The Ville de Montréal has to show determination in pursuing the economic development of the eastern part of the Island of Montréal by developing a vision that is supported and accepted by the local community. To do this, the Ville de Montréal should involve stakeholders in a coordination and monitoring network. The Committee believes that we cannot claim success in the economic development of the territory of Montréal without a recovery in the area east of Pie-IX Blvd."

A joint effort
"One finding in particular emerges from the study of the city's economic hubs: while the city administration has leverage that can speed up their development, this depends first and foremost on the vitality of civil society," Mr. Leblanc said. "The Committee is confident that the Ville de Montréal will leverage Montréal's assets, show the leadership necessary and harness the favourable economy and the cooperation of the local and business communities to build a prosperous city that benefits everyone. It goes without saying that the business community will support and guide it in every step of realizing the vision that will flow from the report's recommendations."

The report contains 13 recommendations that fall into four areas:

1. Structuring projects and priority areas for development
2. Accelerating real estate investments and the economic development of the territory
3. Speaking in a strong, unified voice in the interest of the city
4. Adapting to the opportunities for economic development in Montréal

To consult the report, click here.

SOURCE Board of Trade of Metropolitan Montreal