The government of Quebec is investing $100 million to support the creation of the Land Development Company in Eastern Montreal. The project aims to acquire, develop and manage industrial land and related assets in this sector of the island of Montreal.
The Company will work directly to rehabilitate contaminated land with high economic potential. The money invested by the government will be used to purchase land as well as carry out the studies and decontamination work required in collaboration with the City of Montreal and the City of Montreal-East.
This investment complements the Quebec government’s commitment to dedicate $200 million to the development of eastern Montreal. Remember that in the spring of 2019, the City of Montreal also benefited from an envelope of $100 million for the establishment of a subsidy program for the rehabilitation of contaminated land in the East.
“The decontamination and development of industrial land in eastern Montreal are essential conditions for revitalizing this strategic territory. Today, we are giving ourselves the means to develop the East to its full potential.”, said Pierre Fitzgibbon, Minister of Economy, Innovation and Energy, Minister responsible for Regional Economic Development and Minister responsible for the Metropolis and the Montreal region, during the announcement of the investment.