30 April 2014

PRESS RELEASE – Today, Sherbrooke Innopole released its 2013 annual report and sketched out its prospects for the Sherbrooke economy. Even though last year was a transition year for the organisation given the change in general management, the development of a new strategic plan and a still difficult global economic situation, Sherbrooke Innopole shows some very good results in economic development.

» Sherbrooke Innopole 2013 Annual Report (in French)

At the conclusion of 2013, we witness a net gain of seven businesses and 402 new jobs in our key sectors, which are: Advanced manufacturing; Micro-nanotechnologies; Information and Communication Technologies; Cleantech and Life Sciences. The just published 2013 annual report reveals that in the last four years, while global employment was receding, our key sectors have experienced a growth of 49 businesses and 1,801 jobs. These positive results demonstrate, in such an environment, the impact of Sherbrooke Innopole’s strategic plan.

Besides, if in 2013 global investment in Sherbrooke undergoes a slight decrease of 0.9% compared to 2012, investment in the industrial sector exhibit 20% growth, their total value equals $581,228,962. Investment still primarily takes place in machinery and equipment and R&D. Together, these two investment areas represent more 65% of this sector’s investment. This means that businesses are prepared for the future and ready for innovation.

At 2.1%, Sherbrooke’s predicted GDP growth is among the best in Québec. The unemployment rate remains inferior to the Québec average for the fifth year in a row and population is growing, as is property value, which now reaches 15.5 billion dollars. These good results are very encouraging for Sherbrooke and confirm that the development strategy is sound and has proven itself for the last four years.

Additional evidence of the beneficial effects of various Sherbrooke Innopole investment funds in the environment: in 2013 every dollar invested by one or another fund generated $9 in investment generating $4,521,991 (for an investment of $503,700). These investments helped secure 116 jobs.

These commendable numbers were acknowledged by Sherbrooke Innopole President, Marc Cantin and by General Director, Josée Fortin who both congratulated the work of the efficient and hard-working team at Sherbrooke Innopole as did Sherbrooke Mayor, Bernard Sévigny who rejoiced in this fifth year of good results.