Montreal Mayor Valérie Plante says the city will invest $400,000 into “developing and animating” its downtown sector, as part of a $22-million plan to relaunch Montreal’s economy, hit hard by the COVID-19 pandemic.
Downtown Montreal has been hit especially hard, since many offices have shifted to remote work, and there are few international tourists and no big festivals this summer.
“Because of confinement measures, the downtown is deserted by workers and students and tourists,” Plante said. “It’s a reality we have to deal with.”
The plan is to temporarily reorganize public space in the downtown area this summer, making it more appealing to Montreal shoppers and stimulating the local economy. There will also be pop-up art installations and “surprise” music and dance performances throughout the summer.
Plante said the city is in discussions with the federal and provincial governments to get more funding to help downtown businesses survive.
Montreal is hoping to draw people to its downtown sector while encouraging physical distancing and discouraging group gatherings.
Starting Tuesday, reorganized public spaces will be set up in the area bounded by Atwater Street and Papineau Avenue, Sherbrooke Street and the St. Lawrence River.
Seven large outdoor terrasses and public squares will be available to the public starting July 31. More than 150 artists will set up various types of art installations, music, dance and other spontaneous performances at the locations.
These terrasses will be set up at the Jardins du Centre St-Jax, at Place d’Youville, at the corner of Saint-Laurent and René-Lévesque boulevards, at Place des Festivals in the Quartier des spectacles, as well as at Les Jardins Gamelin.
The plan was developed in collaboration with Montreal’s chamber of commerce, Tourisme Montréal and the Quartier des Spectacles Partnership.
‘Downtown is suffering’
Unlike more residential neighbourhoods where people are shopping locally, downtown relies on people working in the vicinity or students, many of whom have left the city for the summer.
Michel Leblanc, president of the Chamber of Commerce of Metropolitan Montreal, said that fewer than five per cent of office workers have returned to the downtown area.
“Montreal is suffering. Downtown is suffering,” Leblanc said.
On top of that, many of the millions of tourists who visit Montreal every year are staying away.
In 2018, 11 million tourists visited Montreal, generating $4.5 billion in economic spinoffs.
“We have one million tourists this year,” said Yves Lalumière, president of Tourisme Montréal. “Ninety per cent of revenues have disappeared.”
He urged Montrealers to take advantage of the downtown area now that there are “practically no tourists.”
That also means there is now plenty of space to park downtown. Plante announced 1,000 discount parking spaces at the Complexe Desjardins and Palais des congrès, and encouraged Montrealers to take the metro or cycle downtown as well.
TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets also climbed higher.
The S&P/TSX composite index closed up 93.51 points at 23,568.65.
In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.
The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.
The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.
The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.
This report by The Canadian Press was first published Sept. 13, 2024.
OTTAWA – Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, rose 0.4 per cent to $82.7 billion in July.
The increase came as sales in the miscellaneous subsector gained three per cent to reach $10.5 billion in July, helped by strength in the agriculture supplies industry group, which rose 9.2 per cent.
The food, beverage and tobacco subsector added 1.7 per cent to total $15 billion in July.
The personal and household goods subsector fell 2.5 per cent to $12.1 billion.
In volume terms, overall wholesale sales rose 0.5 per cent in July.
Statistics Canada started including oilseed and grain as well as the petroleum and petroleum products subsector as part of wholesale trade last year, but is excluding the data from monthly analysis until there is enough historical data.
This report by The Canadian Press was first published Sept. 13, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in the base metal and energy sectors, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 172.18 points at 23,383.35.
In New York, the Dow Jones industrial average was down 34.99 points at 40,826.72. The S&P 500 index was up 10.56 points at 5,564.69, while the Nasdaq composite was up 74.84 points at 17,470.37.
The Canadian dollar traded for 73.55 cents US compared with 73.59 cents US on Wednesday.
The October crude oil contract was up $2.00 at US$69.31 per barrel and the October natural gas contract was up five cents at US$2.32 per mmBTU.
The December gold contract was up US$40.00 at US$2,582.40 an ounce and the December copper contract was up six cents at US$4.20 a pound.
This report by The Canadian Press was first published Sept. 12, 2024.
