A Look at the 2025-26 Economic Plan for Quebec
How federal dollars are being directed to support small business, tech innovation, and inclusive growth.
Welcome to your briefing on government plans. This week, we're taking a look at the 2025-2026 Departmental Plan for Canada Economic Development for Quebec Regions (CED). This document outlines how the federal government plans to invest in and support the economy of Quebec over the next fiscal year. Let's break down the key priorities and figures.
A Message from the Minister
The plan opens with a message from the Honourable Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions. She sets the stage for the department's goals:
I am pleased to present the Economic Development Agency of Canada for Quebec Regions (CED) 2025-2026 Departmental Plan. This plan reflects CED's ongoing commitment to growing the economies of all regions of Quebec, and to provide the levers needed to forge inclusive and sustainable economic prosperity.
CED's investments will focus notably on strengthening the productivity, stimulating innovation and diversifying markets for small and medium-sized enterprises, which are the backbone of the regional economy and the main drivers of local economic opportunities.
Core Mission: Developing Quebec's Economy
The central goal is to support economic growth, job creation, and prosperity in Quebec. The plan focuses on three main results:
Ensuring Quebec businesses are innovative and growing.
Helping communities across Quebec become more economically diversified.
Encouraging businesses to invest in developing and commercializing innovative technologies.
The department aims to achieve this by acting as a financier, facilitator, and catalyst for networking, bringing partners together for key projects.
Spotlight on Key Initiatives 💡
The plan details several targeted programs and the funding behind them:
Regional Artificial Intelligence Initiative (RAII): A five-year, $38.2M budget (2024-2029) to help small and medium-sized enterprises (SMEs) develop and adopt AI technologies.
Regional Homebuilding Innovation Initiative (RHII): A two-year, $10.45M budget (2024-2026) to support innovation in the multi-unit modular housing construction sector.
Tourism Growth Program (TGP): A three-year, $21.1M budget (2023-2026) to help enhance tourism products and experiences, especially in rural areas. A target of 15% of this budget is set for Indigenous-led tourism projects.
Northern Isolated Community Initiatives (NICI) Fund: A three-year, $3.8M budget (2024-2027) to support food security and economic activity in Nunavik.
Regional Quantum Innovation (RQI): A seven-year, $22.2M budget (2021-2028) to help SMEs and non-profits get ahead in the field of quantum technology.
By the Numbers: Planned Spending & Targets 📊
The report provides a transparent look at spending and performance goals.
Planned Spending (2025-26):
Developing Quebec's Economy: $307,850,857
Internal Services: $23,378,466
Total Planned Spending: $331,229,323
The plan notes that spending levels are decreasing from a high in 2023-24, which was elevated due to pandemic recovery initiatives. The funding is now returning to pre-pandemic levels.
Key Performance Targets (to be achieved by March 31, 2026):
High Growth Firms: Target of 3,420 high-growth firms in Quebec.
Value of Exports: Target of $100 Billion in goods exported from Quebec.
Clean Tech Exports: Target of $2.3 Billion in clean technology exports.
Community Investment: Target of leveraging $2.20 for every $1 invested by CED in community projects.
Focus on an Inclusive Economy
A significant theme throughout the document is ensuring economic growth benefits everyone. The plan includes a commitment to promoting an "inclusive economy" by supporting businesses run by people from under-represented groups.
Here are the targets for the percentage of SMEs in Quebec to be majority-owned by these groups:
Women: 16.0%
Indigenous Peoples: 1.1%
Youth: 14.4%
Visible minorities: 4.3%
Persons with disabilities: 0.4%
The plan also commits to awarding at least
5% of the total value of its contracts to Indigenous businesses.
This plan provides a detailed roadmap for federal economic strategy in Quebec for the coming year, with a clear emphasis on technology, sustainability, and inclusion.
Which of these planned initiatives do you think will have the biggest impact? Share your thoughts in the comments below. 🇨🇦