Premier Christine Fréchette announced Tuesday that the province will invest $122.9 million to develop industrial sites in Montreal East.
The funding will be invested in Société de mise en valeur de terrains dans l’Est de Montréal (SMTEM) to buy and renovate strategic industrial sites which the government says will attract private investment and create jobs.
In a press release, Fréchette said, “We are finally giving Montreal East a strategic site that will host innovative industrial projects, create good jobs, and generate sustainable economic benefits. This is a concrete step toward building the future of East Montreal and contributing to the prosperity of all of Quebec.”
Tuesday’s announcement follows Fréchette’s promised to invest in revitalizing the industrial corridor during her leadership campaign earlier this year. Since 2019, Quebec has invested nearly $323 million, including the latest round.
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SMTEM was established by Fondaction Gestion d’actifs with the mandate to acquire and rehabilitate land in eastern Montreal with a focus on sustainable development.
Chantal Rouleau, the minister responsible for the Montreal region and MNA for Pointe-aux-Trembles, said, “For far too long, our region has been waiting for its immense potential to be fully recognized. With this major investment, our government—the Fréchette government—is taking a decisive step toward transforming strategic land into vibrant communities and true drivers of economic development and innovation.”
Montreal East Mayor Anne St-Laurent also welcomed the investment.
“After more than thirty-five years of vacancy and contamination, this concrete step will enable us to redevelop a strategic site and prepare it to host promising projects that will create wealth and quality jobs, generating benefits that will extend throughout Quebec,” St-Laurent said.
Montreal Mayor Soraya Martinez Ferrada, who had pledged during her municipal election campaign, to revitalize the East End, said the province’s investment was a concrete step in the direction.
“Remediating and redeveloping strategic sites creates the right conditions to attract businesses, investments, and quality jobs. That’s what it means to believe in the potential of the East,” Martinez Ferrada said.
The province has also funded other projects like the tramway, the extension of the Blue line metro and renovation of Maisonneuve-Rosemont Hospital as well as the expansion of the operating room wing at Santa Cabrini Hospital.
