Last February 3, the Quebec government boosted Investissement Québec’s responsibilities and powers, expanding its mandate according to three main priorities:
- Greater and more efficient and more effective local presence
- Enhanced international coordination
- Greater assumption of financial risks
This new vision will be implemented over the coming months and will cover all regions of Quebec, and will see various entities brought under a single umbrella. At the end of this transition period, Investissement Québec will have incorporated the MEI (Ministère de l’Économie et de l’Innovation), the CRIQ (Centre de recherche industrielle du Québec) and Export Québec into a single entity. At the end of the change period, all the programs currently handled by each of these organizations shall be administered by Investissement Québec.
The most significant changes will be seen in the regions, where Investissement Québec will become the single point of contact for companies seeking funding. This will optimize processes and give companies easier access to different forms of assistance to help them develop and grow.
At the international level, the amalgamation with Export Québec will attract greater foreign investment and enhance both the province’s image and its exports through a better coordination of all community stakeholders.
Nationally, Investissement Québec will be taking on greater financial risks as it undertakes major forward-looking projects in a bid to speed up investments and thus increase the productivity of Quebec companies.
As for us here at Emergex SR&ED Subsidies, as well as for out clients, no significant changes are currently anticipated. No changes have been made to the popular Tax Credit for the Development of E-Business (CDAE). The same goes for the Tax Credit for the Production of Multimedia Titles (CTMM). We are still preparing claims under these programs exactly as we have been doing for the CDAE since it came into being in 2008, and for the CTMM, since 2003, that is, for 17 years!
To read more about the enhanced role of Investissement Québec, see the official press release.