Phase II of Biotech City: over 100,000 square metres to be developed

LAVAL, QC, April 21, 2021 /CNW Telbec/ - Since its creation 20 years ago, Biotech City has seen phenomenal growth. Based on this success, Biotech City is launching Phase II of its real estate development project with more than 100,000 square metres to be developed on the grounds of the Institut national de la recherche scientifique (INRS). Phase II of Biotech City is ready to welcome businesses in the life sciences sector and biomedicine in particular (vaccines, antibodies, proteins, cell therapies). Laval anticipates investments of over $1 billion and the creation of 7,500 new jobs over the next decade under this development project.

"This structuring project undoubtedly meets Ville de Laval's objectives with regard to economic recovery and the acceleration of major projects. Located near the metro and downtown Laval, Phase II of Biotech City is the perfect location to offer companies and workers an inspiring and innovative environment that complements the current site. We are very pleased to further our collaboration with INRS, one of our long-time partners," mentioned Stéphane Boyer, deputy mayor, executive committee vice-president, and Duvernay?Pont-Viau councillor.

This is a major project for Laval since this expansion will make it possible to meet a high demand for development space in the biotechnology sector. The pandemic has increased the demand for this critical sector. Phase II of Biotech City will bring together entrepreneurs, researchers and employees who will be able to collaborate in one location and thus foster innovation.

The life sciences sector is one of Laval's major economic drivers. With a large pool of world-class companies, Biotech City remains an attractive destination for companies seeking to set up operations in North America.

"The INRS is proud to partner with Ville de Laval to promote the development of high-tech companies. This initiative is part of our mission to contribute to developing our society through research. Phase II of Biotech City will allow INRS teams to multiply research partnerships in currently critical sectors," added Luc-Alain Giraldeau, CEO, INRS.

Ville de Laval has two tax credit programs available to real estate owners who wish to undertake major construction work. Land in Biotech City is eligible for these programs. To learn more about these incentives, please click here.

Biotech City, an overview

• 5,500 jobs in over 110 companies and institutions operating within a 3 km radius
• The Centre québécois d'innovation en biotechnologie (CQIB) [Quebec biotechnology innovation centre], the first biotech incubator in Canada created 25 years ago
• The INRS Armand-Frappier Santé Biotechnologie Research Centre
• Access to a large talent pool
• Over $4.5 billion in private investments since 2001
• 4,000 new jobs created since 2001
• A 1.3 million square metre science park
• International companies such as Sanofi, GSK, Servier, Bausch Health, Roche, Charles River, Altasciences and Bio-K+

SOURCE Ville de Laval