Why Invest in Lac-Mégantic?
Business costs are very competitive compared to big cities in North America
Lac-Mégantic is without question a city to consider for your next successful project!
Lac-Mégantic is certainly one of the most competitive cities to establish your business. You will enjoy one of the lowest corporate income tax in North America in addition to sales tax refund on capital equipment acquisition .
Start-up and operation costs are extremely favorable, thanks to a reliable hydroelectric network and usage costs that are amongst the lowest in North America.
For example, for $100 of electricity consumed in Québec, a large enterprise will have to pay $162 in Chicago, $235 in Germany, $284 in the UK or even $319 in New York. Source: Hydro-Québec.
Moreover, governments of Canada and Québec recognized the importance of fostering innovation to strengthen economic development. Financial tax breaks have been put in place to reduce the cost of R&D for businesses in order to be more competitive. For each dollar spent in Québec in this sector, businesses get back 30% via different fiscal measures. This is above other G7 countries’ offering.
Quality of Life
If you travel to Lac-Mégantic, you will notice that real estate (buy or rent), food, clothing and traveling costs are very affordable. Considering the wages and cost of living, residents possess a good purchasing power.
Housing costs constitute one of the main factors to consider for people who wish to live in Lac-Mégantic. Renting or buying a house is very affordable and much more advantageous compared to the big city centers.
To help parents with both their family and professional responsibilities, Québec offers daycare services at a low cost, and where educational programs are adapted to the children’s age.
Access to the public education network is free, from K-12 to college education inclusively.
Health care services are accessible and available. Québec medical insurance gives a free access to essential medical treatments and hospitals.
Interesting fact: 17% of the population in Lac-Mégantic walks or cycles to work.
The city of Lac-Mégantic offers a wide array of programs and activities: leisure, sports, culture; catered to the needs of the citizens and enjoyed by the numerous tourists.
The city of Lac-Mégantic is also home to many commercial businesses. In effect, within its territory, one will find a diversity of retail stores, services, restaurants, entertainment venues and eight establishments providing lodging.
Lac-Mégantic – A Strategic Location
Lac-Mégantic, a city of 6000 people located 40 km from the U.S. border.
Access to a consumer market of +460M – with NAFTA (North American Free Trade Agreement)
A geographic location fostering commercial trade
Canada and the U.S. are the largest trading partners in the world. In 2012, trade between the two countries stoodat 572.5 B Canadian dollars, of which 338.7 B dollars for Canadian exports to the US and 233.8 B dollars for imports from the US to Canada.
For Québec, the value of exports to the U.S. in 2012 was 43.5 B dollars.
Canada also benefits from free trade agreements with the following countries: Switzerland, Chili, Columbia, Costa Rica, Israel, Jordan and Peru. A free trade agreement is under way with the European Community.
Political Stability
Canada is recognized internationally for its integrity and credibility with its leadership and solid work in diplomacy. This experience and the reputation of “honest broker” enable Canada to deal with countries in international economic forums that are stronger.
The dual language (English and French) culture helps facilitate a strong presence in the “Francophonie” as well as in the Commonwealth. Canada is a respected member of the G7 and is recognized worldwide for its fiscal prudence in addition to its credible monetary policy. Canada is also a very stable country politically with strong institutions and a commitment to the rule of law, a major competitive advantage in terms of economic development and natural resources development.
Source: Government of Canada