Economy of Quebec

This region alone accounts for 53.4% of the province's gross domestic product (GDP), followed by the Quebec City metropolitan area (11.4%), Gatineau (3.2%), Sherbrooke (2.2%), Saguenay (1.9%) and Trois-Rivières (1.8%).

For its part, the Société des établissements de plein air du Québec (SEPAQ) is the lead agency for the management of national parks and wildlife reserves.

[24] During the inaugural speech of 2011, Jean Charest announced five priorities for the next 30 years including the Plan Nord and called for a revolution in electric cars.

[25][26] On November 23, 2009, Premier Jean Charest announced targets for reducing greenhouse gases during the United Nations Climate Change Conference in Copenhagen.

In 2010, former minister Jim Prentice has openly criticized Quebec's plan to set GHG standards for motor vehicles sold in the province, describing it as "lunatic".

[37][38] Quebec's high EV market share can be attributed to several factors, such as its abundant hydroelectricity, its rich mineral resources, its strong government support, and its competitive fuel economy and cost.

Federal Energy and Natural Resources Minister Jonathan Wilkinson announced nearly $30 million in funding for the installation of more than 1,500 new electric vehicle (EV) charging stations in Quebec.

Quebec is on track to become a major player in the electric vehicle (EV) industry, thanks to its ambitious strategy to develop a domestic battery supply chain.

The province has several advantages, such as abundant hydroelectricity, rich mineral resources, and strong government support, that make it an attractive destination for EV battery manufacturing and related activities.

Investissement Québec, the province's investment arm, acts as a venture capitalist and provides substantial backing for critical mineral projects, giving a vote of confidence and enticing private capital.

[41] Ford Motor Co and Korean companies EcoProBM and SK On have announced that they will build a C$1.2 billion ($887 million) plant to produce EV battery materials in Becancour.

[42] BASF has announced that it plans to build a factory in Quebec to produce cathode active materials with production expected to start by 2025.

Its financial capital city, Montreal, is home to a thriving AI ecosystem that includes the world's largest concentration of academic researchers in deep learning at Mila,[50] the Quebec artificial intelligence institute.

Led by renowned experts such as Yoshua Bengio, Joelle Pineau, Hugo Larochelle, and Irina Rish, Mila collaborates with industry partners and government agencies to advance AI research and applications for the common good and ethics.

Quebec's AI industry has attracted major investments from the Canadian government, such as the Canada First Research Excellence Fund, and from global companies, such as Google, Facebook, Microsoft, and IBM.

It has a long and rich history that dates back to the colonial era, when engineers played a key role in building and developing the infrastructure and public works of the region.

[53] Since then, the engineering industry in Quebec has evolved and diversified, offering a wide range of services and expertise in various fields such as transportation, energy, environment, construction, and manufacturing.

Quebec is home to many engineering firms that operate locally and internationally, providing consulting, design, project management, and construction services to clients from different sectors and regions.

The Finance, insurance, real estate and leasing industry employs 218,000 people,[59] including the largest money manager in Canada, Caisse de dépôt et placement du Québec.

It employs some 35,000 people and includes major original equipment manufacturers such as Bombardier, Paccar, Nova Bus, Prévost CAR, Komatsu International, and many suppliers and sub-contractors.

Research-related jobs are concentrated chiefly in the seven Quebec City region research centres, while production operations are mostly located in the Greater Montreal area.

Pfizer's legacy in developing small molecules, vaccines, and biologics extends across diverse therapeutic areas, from oncology to rare diseases and immunology.

[66] This major centre of 4 million inhabitants is a tapestry of cultures from the world over with its many neighbourhoods, including Chinatown, the Latin Quarter, the Gay Village, Little Italy, Le Plateau-Mont-Royal, the Quartier International and Old Montreal.

Thermal electricity production is almost completely absent from Quebec, except for a few power stations exploiting forest biomass or diesel generators which supply some twenty remote communities.

This change has occurred because of an increase in the non-traditional production of shale gas in North America, stimulating competition between the different supply basins operated across the continent.

[81] The combination of rich and easily arable soils and relatively warm climate make the St. Lawrence River Valley Quebec's most prolific agricultural area.

[97][92] Quebec has renewable forest resources extending over an area of nearly 760,000 square kilometres (290,000 sq mi) and generating an annual allowable cut of about 55 cubic metres (72 cu yd) million.

[99] Approximately 30 minerals are mined, with the most important being iron, gold, nickel, titanium, niobium, zinc, copper, silver, and stone.

The North American Free Trade Agreement (NAFTA), grants Quebec, among other things, the access to a market of 130 million consumers within 1,000 kilometres (620 mi).

Several prominent Quebec companies work within the international market: Cascades and AbitibiBowater pulp and paper producers, Agropur milk producer, Bombardier transport manufacturer, CGI information technologies, Cirque du Soleil circus, Couche-Tard convenience stores, Garda security, Énergir power distributor, Cossette marketing firm, Quebecor media and telecommunications, Raymond Chabot Grant Thornton accounting firm, Saputo dairy and food company, Vachon bakery, SNC-Lavalin engineering and construction group, Molson brewery, and many more.