Investments under surveillance

Des investissements sous surveillance

This week, the government Legault presented the new version of its main economic lever, Investissement Québec. In short, Québec, with its ministry of the Economy, will now be more financial risk and will invest more of your money directly in companies.

Two billion dollars have been added to make these new investments, the equivalent of 6 % of Quebecers have paid in taxes this year.

The Journal intends to examine for you the use of these sums and show you where your tax dollar goes, who are the recipients of these public subsidies, what companies are doing efforts to get a share of the cake.

Already a risky investment

Last Tuesday, The Journal revealed that the project of balloons airships French Flying Whales, in which the government of Quebec has invested $ 30 million this fall is deemed unrealistic by experts. In addition to being highly risky, this investment was made at three times the price paid by the chinese government, which has acquired an equivalent share of the project.

This type of decision must be known to the public who pays the bill. This will be the purpose of this column, which will be presented to you on a regular basis.

$33 million

LeddarTech

Benoit Maheux, managing director at LeddarTech,
present at the Consumer Electronics Show 2020 which took place in Las Vegas in early January. The SMES of Quebec has received an award of innovation for its Pixell, a sensor that only allows autonomous vehicles to detect obstacles on
their way.

Quebec has decided to bet against Elon Musk, the famous boss of Tesla. After five meetings with the minister of Economy, Pierre Fitzgibbon, the company LeddarTech Quebec has obtained a loan of $ 33 million for the development of its LiDAR, a sensing technology for autonomous vehicles.

It had been rejected by Musk, who deemed it too expensive to be installed on vehicles general public. LeddarTech, which the product is intended for the time specialty vehicles (shuttle buses self-reliant in airports for example) intends to use the money to test the technology and reduce the price… in the hope to give the lie to Mr. Musk.

$34 million

First tech

The offices of Premier Tech in Rivière-du-Loup.

Since the Auditor general of Québec has deemed it not cost-effective for the government a grant of$ 8.5 Million in the First Tech in 2016, the group specialized in horticulture, industrial equipment and environmental technologies has received$ 55 Million of public funds.

In the months leading up to the granting of a loan without interest of$ 30 Million and a grant of$ 4 Million last November, representatives of the company have obtained three meetings with the minister of Economy, Pierre Fitzgibbon, ” concerning the projects of the company “. The government has refused to clarify what would serve the millions : the details will be unveiled at a later date, it was argued.

Other aids recent

$10 million

  • City of Laval

For a project of decontamination, refurbishment and valorisation of land in the area of the Square Laval, in the heart of the city centre, for the purposes of economic development.

$5 million

  • Transmission CVTCORP

Equity participation in the company CVTCORP so that it can complete development of certain products and strengthen its production capacity.

$7 million

  • Solid waste, canadian

To finance the continuity of services of collection, transport and sorting of recyclable materials from municipal organizations.

$7.7 million

  • Boulangerie Lanthier

Realization of an investment project valued at $ 51 million, which contributed to the creation of 64 jobs.

$3 million

  • Artificial Intelligence

Establishment of the centre of regional expertise in artificial intelligence in the region of Quebec, led by the Institute for intelligence and data from the University of Laval.

$1.8 million

  • Centre acer

To support its proposed purchase of equipment, the cost of which amounted to nearly $ 2 million.

$1.7 million

  • Géoméga

Business loan Géoméga for the construction of its demonstration plant for recycling of rare earth magnets to Saint-Bruno-de-Montarville, as well as the acquisition of new equipment.

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