The City of Laval and the Institut national de la recherche scientifique (INRS) are launching Phase II of Biotech City, a property destined for up to 1.2 million square feet of additional life and health sciences development in the coming years.
The sprawling 20-year-old Greater Montreal campus is already home to an extensive list of firms in the health sciences sector, with the city saying over 110 companies and 5,500 jobs are supported at the site and within a three-kilometre radius. The sector is one of the city’s new economic drivers.
Phase II is expected to create more than $1 billion in investment activity and create 7,500 jobs.
“This structuring project undoubtedly meets Ville de Laval’s objectives with regard to economic recovery and the acceleration of major projects,” said Stéphane Boyer, deputy mayor of Laval and an executive committee vice-president, in the announcement Wednesday.
“Located near the metro and downtown Laval, Phase II of Biotech City is the perfect location to offer companies and workers an inspiring and innovative environment that complements the current site.
“We are very pleased to further our collaboration with INRS, one of our longtime partners.”
Biotech City targets life sciences, biomedicine
No specific development commitments were included in the announcement.
The property will be targeting businesses and organizations in the life sciences sector and biomedicine in particular (vaccines, antibodies, proteins, cell therapies).
The pandemic has increased an already high demand for development space in the biotechnology sector, the release states.
Phase II of Biotech City is designed to facilitate collaboration between entrepreneurs, researchers and employees in one location, thus fostering increased innovation.
“The INRS is proud to partner with Ville de Laval to promote the development of high-tech companies,” said Luc-Alain Giraldeau, the 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.”
Ville de Laval also offers two tax credit programs to developers and entrepreneurs who undertake major construction work. Land in Biotech City is eligible for these programs.
Biotech City is currently home to the centre québécois d’innovation en biotechnologie (Quebec biotechnology innovation centre), the first biotech incubator in Canada created 25 years ago.
It is also the site of the INRS Armand-Frappier Santé Biotechnologie Research Centre, as well as international companies such as Sanofi, GSK, Servier, Bausch Health, Roche, Charles River, Altasciences and Bio-K+.
The 13-million-square-foot science park has seen over $4.5 billion in private investment and 4,000 new jobs created since 2001.