Having carved out a place for itself in the aerospace sector, Québec now wants to become a global research and innovation hub.

La Presse Affaires learned yesterday that talks are under way with several foreign companies in order to attract international research centres to Québec. “We have a few of them in our sights,” Raymond Bachand, Québec’s Minister of Economic Development, Innovation and Export Trade, said during a telephone interview.

On Monday, the Government of Québec unveiled an ambitious research and innovation policy including $888 million in new investments over the next three years. The sum includes $35 million earmarked to attract or keep foreign R&D; centres. Thanks to the leverage effect of this measure, Québec hopes to generate a total of $350 million in investments.

According to Bachand, the new initiatives will boost Québec’s ability to tackle stiff competition from other provinces and a number of countries when it comes to attracting foreign R&D; centres. “We’re competing with places like Shanghai and the United States. We have to have the tools to convince people to come here instead of going elsewhere.”