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She cites the case of Quartz, a Montreal-based maker of winter coats that expanded its factory in the St-Michel district and bought new machinery to produce thousands of medical gowns for caregiving staff.
“Many entrepreneurs didn’t know they had this capacity to adapt,” Morin said. “Many companies pivoted a lot faster than they thought they could.”
COVID-19 rewarded companies such as Kanuk that had already decided to rely increasingly on local suppliers in a bid to shrink their environmental footprint and maximize economic spinoffs, Morin said.
“All of a sudden, everything that had to do with environmental and social impacts became extremely pertinent this year,” she said.
Fondaction’s activities also extend to real estate, with a portfolio that represents about 5 to 7 per cent of total assets. Projects over the years have included the redevelopment of the former Angus Shops and the refurbishment of O Mile-Ex, the St-Urbain St. office complex that has become a hub of artificial intelligence jobs.
