Charting our I nternational Future : A Competitive Greater Montreal - PowerPoint PPT Presentation

Charting our I nternational Future : A Competitive Greater Montreal ISRN Annual Meeting Yves Charette Greater Montreal Economic Development Coordinator Toronto, May 5 th , 2010

Montreal Metropolitain Community at a glance… • 82 Local municipalities • 120 Cultural communities • 5 Administratives regions • 150 G $ Metropolitan GDP • 7 Regional conferences of • 1,90 million Jobs elected officials • 172 900 Jobs in the new • 4 360 KM 2 economy • 3,6 Population • 1 International airport • 75 Languages spoken • 1 Port • 19.4 % of Inhabitants speak at • 5 Universities least two languages at home • 66 Cegeps and Colleges • 201 Research centers • 60 Consulates and foreign delegations

Key Economic Indicators Comparing metropolitan performances Comparing metropolitan performances GDP per capita (US$) GDP per capita (US$) GDP per capita (US$) GDP per capita (US$) RANK RANK CITY CITY RANK RANK CITY CITY CAGR CAGR CAGR CAGR 2002 2002 2007 2007 2002 2002 2007 2007 (2002-2007) (2002-2007) (2002-2007) (2002-2007) 1 1 Houston-Sugar Houston-Sugar 46,869 46,869 67,216 67,216 7.5% 7.5% 16 16 Seattle-Tacoma-Bellevue Seattle-Tacoma-Bellevue 50,559 50,559 63,034 63,034 4.5% 4.5% New York-Northern New Jersey-Long New York-Northern New Jersey-Long 17 17 Boston-Cambridge-Quincy Boston-Cambridge-Quincy 52,039 52,039 64,669 64,669 4.4% 4.4% 2 2 48,887 48,887 64,318 64,318 5.6% 5.6% Island Island 18 18 Dallas-Fort Worth-Arlington Dallas-Fort Worth-Arlington 48,369 48,369 59,398 59,398 4.2% 4.2% 3 3 Los Angeles-Long Beach-Santa Ana Los Angeles-Long Beach-Santa Ana 41,355 41,355 54,203 54,203 5.6% 5.6% 19 19 Chicago-Naperville-Joliet Chicago-Naperville-Joliet 43,676 43,676 53,136 53,136 4.0% 4.0% 4 4 Miami-Fort Lauderdale-Miami Beach Miami-Fort Lauderdale-Miami Beach 35,668 35,668 46,645 46,645 5.5% 5.5% 20 20 Tampa-St. Petersburg-Clearwater Tampa-St. Petersburg-Clearwater 32,905 32,905 40,015 40,015 4.0% 4.0% 5 5 Washington-Arlington-Alexandria Washington-Arlington-Alexandria 55,446 55,446 72,250 72,250 5.4% 5.4% 21 21 Minneapolis-St. Paul-Bloomington Minneapolis-St. Paul-Bloomington 48,370 48,370 58,600 58,600 3.9% 3.9% 6 6 San Diego-Carlsbad-San Marcos San Diego-Carlsbad-San Marcos 41,333 41,333 53,851 53,851 5.4% 5.4% 22 22 St. Louis St. Louis 37,522 37,522 44,584 44,584 3.5% 3.5% 7 7 Pittsburgh Pittsburgh 36,928 36,928 47,544 47,544 5.2% 5.2% 23 23 Denver-Aurora Denver-Aurora 49,736 49,736 59,070 59,070 3.5% 3.5% 8 8 San Francisco-Oakland-Fremont San Francisco-Oakland-Fremont 55,156 55,156 70,958 70,958 5.2% 5.2% 24 24 Vancouver Vancouver 29,063 29,063 34,433 34,433 3.4% 3.4% 9 9 Portland-Vancouver-Beaverton Portland-Vancouver-Beaverton 39,423 39,423 50,526 50,526 5.1% 5.1% 25 25 Cincinnati-Middletown Cincinnati-Middletown 38,768 38,768 45,789 45,789 3.4% 3.4% 10 10 Sacramento--Arden-Arcade—Roseville Sacramento--Arden-Arcade—Roseville 34,953 34,953 44,761 44,761 5.1% 5.1% 26 26 Phoenix-Mesa-Scottsdale Phoenix-Mesa-Scottsdale 37,396 37,396 43,451 43,451 3.0% 3.0% 27 27 Atlanta-Sandy Springs-Marietta Atlanta-Sandy Springs-Marietta 45,593 45,593 51,185 51,185 2.3% 2.3% 11 11 Orlando-Kissimmee Orlando-Kissimmee 38,803 38,803 49,397 49,397 4.9% 4.9% 28 28 Montréal Montréal 28,496 28,496 30,812 30,812 1.6% 1.6% 12 12 Baltimore-Towson Baltimore-Towson 38,759 38,759 48,875 48,875 4.7% 4.7% 29 29 Detroit-Warren-Livonia Detroit-Warren-Livonia 42,175 42,175 45,080 45,080 1.3% 1.3% 13 13 Cleveland-Elyria-Mentor Cleveland-Elyria-Mentor 40,033 40,033 50,132 50,132 4.6% 4.6% 30 30 Toronto Toronto 35,849 35,849 36,433 36,433 0.3% 0.3% 14 14 Riverside-San Bernardino-Ontario Riverside-San Bernardino-Ontario 22,316 22,316 27,883 27,883 4.6% 4.6% 15 15 Philadelphia-Camden-Wilmington Philadelphia-Camden-Wilmington 44,222 44,222 55,148 55,148 4.5% 4.5% Sources: Statistics Canada, US Census Bureau, 2002-2007; Analysis SECOR

Strategic Issues – Labor productivity GDP per job - Montréal CMA and North America GDP per job - Montréal CMA and North America (1987- 2007; 2002 constant $) (1987- 2007; 2002 constant $) CAGR CAGR 1987-2007 1987-2007 1997-2007 1997-2007 2002-2007 2002-2007 80 North America North America 75 1,61 % 1,61 % 1,86 % 1,86 % 1,66 % 1,66 % 70 65 Canada Canada 1,32 % 1,32 % 1,16 % 1,16 % 0,36 % 0,36 % 60 Montréal Montréal 55 0,91 % 0,91 % 0,45 % 0,45 % -0,20 % -0,20 % 50 45 40 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 Source: Communauté métropolitaine de Montréal

Strategic Issues - Training GDP per capita and share of people 25 years and over with a university degree GDP per capita and share of people 25 years and over with a university degree (US$, %, 2006, 2007) (US$, %, 2006, 2007) 75 000 75 000 Wash. Wash. S. Fr. S. Fr. Houst. Houst. 65 000 65 000 Bost. Bost. NY.Sea. NY.Sea. Dal. Dal. Den. Den. Min. Min. Phi. Phi. 55 000 55 000 L.A L.A S. Die. S. Die. Chic. Chic. St. L. St. L. Cle. Cle. Atl. Atl. Orl. Orl. Port. Port. Balt. Balt. Pitt. Pitt. Mia. Mia. Detr. Detr. Cin. Cin. 45 000 45 000 Sacr. Sacr. Phoe. Phoe. Tam. Tam. Tor. Tor. 35 000 35 000 Van. Van. Mont. Mont. 25 000 25 000 15% 15% 20% 20% 25% 25% 30% 30% 35% 35% 40% 40% 45% 45% 50% 50% Sources: data on the share of people 25 years and over with a university degree : US Census Bureau, 2005-2007 American Community Survey; Statistics Canada, 2006 Census; data on GDP per capita : Statistics Canada, 2006 Census; Bureau of Economic Analysis; Analysis SECOR

Strategic Issues – Private Investment Construction Machinery and equipment 9,6% 7,4% 6,6% 4,7% 3,0% 1,4% Montréal CMA Canada United States * Administrative regions of Montréal, Laval, Laurentides, Lanaudière and Montérégie. 2008 : intentions and 2007 : preliminary estimates ** Housing excluded Sources: Institut de la statistique du Québec; Statistics Canada; US Department of Commerce, Bureau of Economic Analysis

Surviving the Recession The official explanation « Following the financial crisis of 2008 and at the first signs of economic slowdown, the government intervened under an action plan calling for an injection of $15 billion in the economy. Thanks to the government’s quick initiatives, Québec was less affected by the recession than its main partners, i.e. the United States and Ontario. » Budget 2010-2011

Surviving the Recession • Other possible explanations – Massive investments in infrastructure (Johnson Commission) – Automotive industry (dead with GM) – Financial services (dead with Stock Exchange) – Chronic high unemployment – Lag in Aerospace, ICT and Pharma

Surviving the Recession Unemployment rate %, seasonally adjusted 11 Loonie starts kicking Montréal CMA Aerospace stalls –post 911 GM shuts down 8 Toronto CMA 5 Aerospace takes off North America Boom in professional & financial services Day ‐ care policy 2 00 01 02 03 04 05 06 07 08 09 Sources: U.S. Bureau of Labor Statistics and Statistics Canada

Surviving the Recession Manufacturing employment 2000=100, seasonally adjusted 115 Toronto CMA 100 Canada 85 Montréal CMA 70 00 01 02 03 04 05 06 07 08 09 Source: Statistics Canada

Surviving the Recession Employment '000 70 Motor vehicles and parts, Toronto CMA 60 50 Lagged growth 40 Aircraft motors (Pratt & Whitney) 30 20 Aerospace products and parts, Montréal CMA 10 0 1988 1991 1994 1997 2000 2003 2006 2009 Source: Statistics Canada

2010-2015 Economic Development Plan A DYNAMIC REGION A LEARNING REGION Facilitate the Increase the impact of clusters and metropolitan development of skills networks TOP 10 AN OPEN & ATTRACTIVE REGION Increase the ability to attract and retain activities, firms, and individuals

Economic Development Plan : A Competitive Metropolitan Montréal Region A LEARNING REGION A DYNAMIC REGION (Innovation task force) (Skills task force) AN OPEN & ATTRACTIVE REGION (Visibility task force + Montreal International)

Years 9 Impact Cluster Maturation Process 6 Results 3 3 Activation 1

Buzzwords in Urban Economic Development • Research needed by policymakers – Innovation / Productivity / Clusters (e.g. empirical evidence) – Manpower shortage (e.g. obsolete macro indicators) – Place Branding (e.g. marketing a metro region)

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