City believes pandemic could stimulate an upswing in science research
The City of Laval says it is going ahead with a second phase of its Cité de la Biotech (Biotech City) industrial science park project, which was first launched with Phase I two decades ago.
Since its creation, according to the city, Biotech City has seen phenomenal growth.
$1 billion in investment
Based on this success, Laval says it is launching Phase II of the real estate development project with more than 100,000 square metres to become available on the current grounds of the Institut national de la recherche scientifique (INRS).
The city says that Phase II of Biotech City will be ready to welcome businesses in the life sciences sector, and biomedicine in particular (vaccines, antibodies, proteins, cell therapies). Laval anticipates investments of over $1 billion and the creation of 7,500 new jobs over the next decade through this development project.
“There can be no doubt that this promisingly innovative project meets Ville de Laval’s objectives with regard to economic recovery and the acceleration of major projects,” said Laval executive-committee vice-president Stéphane Boyer, who is city councillor for Duvernay-Pont Viau and responsible for economic development dossiers.
Located near the Metro and downtown Laval, Phase II of Biotech City, according to the City of Laval, should be an ideal location to offer companies and workers an environment to complement the initial Phase I site. “We are very pleased to further our collaboration with INRS, one of our long-time partners,” Boyer said.
A growing demand
The city considers Biotech City Phase II to be a major project and expects the expansion will make it possible to meet a high demand for development space in the biotechnology sector. The city believes the pandemic has increased the need for resources offered to this critical sector. Laval says Phase II of Biotech City will bring together entrepreneurs, researchers and employees who will be able to collaborate in one location and foster innovation.
The City of Laval believes the pandemic has increased the demand for scientific research resources of the kind that will be made available in Phase II at Biotech City
The city maintains that the life sciences sector is one of Laval’s major economic drivers. With a large pool of world-class companies, the city says Biotech City will be an attractive location for multinational companies with off-continent home bases to set up operations in North America.
The INRS is on board
“The INRS is proud to partner with Ville de Laval to promote the development of high-tech companies,” said Luc-Alain Giraldeau, CEO of INRS. “This initiative is part of our mission to contribute to developing our society through research. Phase II of Biotech City will allow INRS teams to multiply research partnerships in currently critical sectors.”
The City of Laval says it has two tax credit programs available for real estate owners who wish to undertake major construction projects. Land in Biotech City is eligible for these programs.
Here are some quick facts about Biotech City:
- Expected to create 5,500 jobs at over 110 companies and institutions operating within a 3 km radius;
- Home to the Centre québécois d’innovation en biotechnologie (CQIB) [Quebec biotechnology innovation centre], the first biotech incubator in Canada (created 25 years ago);
- Home to the INRS Armand-Frappier Santé Biotechnologie Research Centre;
- Offers access to a large talent pool;
- Has seen over $4.5 billion in private investments since 2001;
- Has seen 4,000 new jobs created since 2001;
- Offers a 1.3 million square metre science park;
- Is home to International companies such as Sanofi, GSK, Servier, Bausch Health, Roche, Charles River, Altasciences and Bio-K+.