Montréal, November 25, 2015 – The Board of Trade of Metropolitan Montreal applauds the municipal budget for 2016, which continues efforts to rigorously manage public finances while laying the groundwork for a marked improvement in the city’s business environment. After two years spent stabilizing finances and reviewing administrative processes, this budget clearly continues along those lines, by creating new avenues for economic development.
“With this mid-mandate budget, Mayor Denis Coderre is showing that we can keep growth in operational spending under control,” said Michel Leblanc, President and CEO of the Board of Trade of Metropolitan Montreal. “On this point, the Board of Trade applauds the Mayor’s efforts that have helped improve the city’s credit rating, from AA- to A+, by credit rating agency Standard & Poors in October, a first in 30 years.”
“Mayor Coderre is also sending a clear message to the business community by announcing measures to make the city’s tax environment more competitive and to create new incentives to stimulate the development of key sectors of the Montréal economy,” Mr. Leblanc said. “These new measures, combined with an increase in taxes on non-residential buildings of 0.9%, well below the projected inflation rate of 2.3% and considerably lower than the increases of 2.0% in 2015 and 2.1% in 2014, do not increase the tax burden of Montréal companies, which are among the most taxed in North America. We are particularly interested in the creation of the working group to study opportunities for intervention. The Ville de Montréal can count on our full cooperation.”
“Funding for the Programme réussir@montréal (PR@M-Industry), in the amount of $15.3 million and the six areas of support to entrepreneurs through the PME MTL program, in the amount of $7.8 million, are more good news announced in the 2016 budget,” Michel Leblanc said. “These measures will round out the PR@M-Commerce and PR@M-Artères programs, announced in May 2015, and will help increase Greater Montréal’s momentum and contribute to its economic vitality.”
About the Board of Trade of Metropolitan Montreal
The Board of Trade of Metropolitan Montreal is made up of over 7,000 members. Its mission is to be the voice of Montréal’s business community and to promote the city’s prosperity. It is involved in key areas of economic development, advocating a philosophy of action based on engagement, credibility, proactivity, collaboration, and innovation. The Board of Trade also offers a range of specialized services to individuals and to businesses of all sizes to support them in their growth at home and abroad.
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Advisor, Media Relations
Board of Trade of Metropolitan Montreal
Phone: 514 871-4000, extension 4042
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