The Ville de Montréal is holding consultations to get different points of view on revitalizing the manufacturing sector in an economy that is increasingly service, knowledge and innovation based. The Board of Trade took part in these consultations and proposed the following three strategies to strengthen this critical sector of the city’s economy.
1- Make the business environment more competitive
Conditions need to be right to attract, create and grow manufacturing businesses in Greater Montréal. Businesses need a modern, efficient road network and a competitive fiscal framework and financial support. We also need to support initiatives that ensure access to skilled labour.
2- Increase business productivity
The productivity challenge is the crux of strengthening the manufacturing sector. Businesses have to be more effective and efficient, turning increasingly to digital solutions and automating their activities. We need to encourage and support the integration of technologies. Let’s remember that the city’s manufacturing businesses have access to leading-edge, international-calibre expertise in automation right here in Quebec.
3- Take advantage of the internationalization of trade and globalization
In an increasingly international economy, Montréal’s positioning in the global transportation and logistics chain needs to be reinforced and access to international markets by Quebec and Montréal businesses facilitated. The Ville de Montréal needs to continue to work closely with international development organizations to increase the city’s influence and facilitate the integration of local businesses to global value chains.
Through these strategies, what is most important is leveraging our capacity for innovation and creativity. With the emergence of new technologies, such as robotics and 3D printing, we are entering a new industrial era, and it is important to work out support to this sector in terms of current needs and particularly future needs of businesses. The city has everything it takes to succeed in this new world.
To consult the Board of Trade’s recommendations about the future of the city’s manufacturing sector presented Thursday, September 15 to the Standing Committee on Economic and Urban Development and Housing, click here.