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Sep 15, 2009 (Vol. 29, No. 16)

Quebec Eyes Biotech as Key Growth Sector

Canada’s “Little City” Has Made a Big Investment in Biotechnology and It Seems To Be Paying Off

  • Economic Indicators and Incentives for Doing Business in Quebec City

    • Unemployment (1H09) = 4.8%
      (vs. 8.3% for Quebec Province and 8.0% for Canada)
    • Jobs (1H09) = +2,700 compared to 1H08
    • GDP (avg annual growth 1Q07–09) = 3.3% (vs. 0.7% for Quebec Province and 0.5% for Canada)
    • Per capita personal income growth (1Q07–09) = 4.9% (projected 2.8% in 2010)
    • Capital investment growth (2004–2009) = 47.4% (vs. 24.8% for Quebec Province)
    • Typical business start-up and operating costs = $14.06 million (vs. an average of $14.35 million for Canada and $15.19 million for the U.S.)
    • Effective tax rate for manufacturing companies = 30.90% (vs. 44.41% for New York and 40.75% for California)
    • Refundable tax credits include: 17.5% of R&D salaries paid in Quebec; 35% of eligible R&D expenditures at accredited research centers

Readers' Comments

Posted 10/08/2009 by The Canadian Biotechnologist2.0 Blog

Do visit this blog for ongoing coverage of this sector: http://cbt20.org.

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