Invest in Baie-Comeau
Companies in Baie-Comeau benefit from a stable and efficient business environment, due to the strength of its institutions. The Canadian banking system is sound, and the corruption index is low. The procedures and time required to obtain permits are reasonable.
Unique advantages of Baie-Comeau
Affordable hydroelectric renewable energy across Quebec
- Promoting sustainable development
- Low-cost Quebec electricity:
- 36% less than in the United States
- 49% less than in G7 countries
- Electrical connection costs among the lowest in Quebec
- Outstanding electrical power reliability due to recently modernized electrical installations
Low-cost Quebec workforce:
- 34% less than in the United States
- 16% less than in G7 countries
Ideal entry point for access to several hydroelectric infrastructures via route 389
Investment in Quebec
Investment in Quebec has grown in recent years, mainly from the United States and Europe.
- 6 B$ in foreign investment in 2022–2023 versus 4.6 B$ in 2021–2022
- 52% increase in capital expenditure in the mining sector between 2020 and 2021
- 33% of investments in the mining sector are made on the Côte-Nord
- 22% annual increase in investment in primary metal processing
- 14% annual increase in investment in metal products manufacturing (secondary transformation)
Markets
Mineral resource extraction and primary processing
Mineral resource extraction and primary processing are well-established operations in the Baie-Comeau region. An efficient support system is already in place, which facilitates the supply of consumables, support services and other related services, such as logistics, legal assistance, engineering, etc.
Secondary Transformation
The abundance of mining resources in Baie-Comeau creates opportunities for value-added metallurgical processing. Baie-Comeau’s IP zone is home to Alcoa, a leading primary aluminum producer.
Timber products, agricultural products, bioproducts, and bioenergy
The Côte-Nord forestry industry is well established, and there is a considerable volume of timber available for logging near Baie-Comeau. The potential synergies between forestry operations in the Baie-Comeau region and the manufacture of biofuels from forest products are substantial.
The Baie-Comeau IP zone is already home to a leading forestry company, Produits Forestiers Résolu. Cargill, one of the world’s largest ethanol manufacturers, is also based in Baie-Comeau. Cargill has the second-largest grain storage site in Canada.
Discover our intermodal logistics infrastructuresFinancial incentives
There are a number of local financial incentives available, as well as long-term Quebec and Canadian incentives, for companies who wish to establish themselves in the Baie-Comeau IP zone.
Provincial and federal
- Research and development credits available, in addition to various specific innovation programs, including the Strategic Innovation Fund (SIF)
- Provincial tax break
- 10-year term
- Up to 25% of total eligible capital expenditures
- Tax credit relating to investment and innovation of up to 30% in 2023 and 15% for 2024
- Financial assistance measures from the Société du Plan Nord
- Quebec government programs for critical and strategic minerals
- Investment tax credit for clean technologies (including clean hydrogen) from the federal governement, up to 30% (ends in 2035)
Local
- A local property tax credit program is available for new projects located in the Jean-Noël-Tessier industrial park. This program can amount to up to $6 million over 5 years.
- The Fondation économique Manicouagan can help finance the preliminary studies required prior to implementation.
Support is available to help promoters navigate the various financing offers and submit applications for different types of financial assistance.
Database of public companies
Discover the online database for contractors and suppliers in the northern region.