Hon. Tony Loffreda: Honourable senators, I rise today to pay tribute to Montréal International, Greater Montréal’s economic promotion agency, whose objective is to help build the city’s international reputation and prosperity by acting as a driving force for economic development.

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Montréal International has had another record-breaking year in attracting direct foreign investments, international organizations, entrepreneurs, talented workers and international students to the region. Since 1996, the non-profit organization has been successful in positioning the city as a top destination for foreign investments. In 2022, Montréal International helped facilitate nearly $3.6 billion in foreign direct investment. According to its annual report, 102 projects will benefit and over 8,000 jobs will be created at an average annual salary of $88,000. A record-setting 21 projects will be in communities outside Montreal.

Beyond good-paying, family-supporting jobs, what else do these foreign investments mean for residents of the city and Canadians in general? They add up to no less than $500 million in tax revenue for governments and over $80 million in property taxes. This is money that can go back into our communities.

Montréal International is more relevant than ever, considering the global competition to attract investments. In fact, without its support, 82% of foreign direct investment projects would not have happened, would have been smaller or would have incurred delays or higher costs. Montréal International gets things done.

Honourable colleagues, I may be biased since I spent 13 years on its board as treasurer of the organization, but I think Montréal International is one of the best and most effective agencies of its kind thanks to the talent, know-how and expertise of its staff and board of directors. Many agree: In 2020, it was recognized as the best economic development agency in the world and also earned top marks for best investment promotion agency.

Recently, Montréal International launched a talent recruitment website that has already benefited countless businesses. The organization is committed to international mobility and supporting employers who want to hire foreign talent.

Honourable senators, please join me in celebrating the work of Montréal International, thanking them for their countless contributions to our economy and encouraging them to continue its ambitious agenda of attracting more foreign investments to Canada.

Thank you.

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