Prompt applauds the efforts and resources made available to the information and communication technology sector by the Legault government in its 2021-2022 budget. These are investments that allow our large ecosystem of entrepreneurs and researchers to continue to innovate, increase the province’s economic wealth and expand Quebec’s IT knowledge base. This article cites the highlights of the Quebec Government’s 2021-2022 Budget regarding innovation and information and communication technologies.
Accelerating growth and the transition to the new economy
In the 2021-2022 budget, the government plans a series of initiatives totalling $4.0 billion by 2025-2026, including $2.8 billion to accelerate the transition to the new economy:
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$218 million to create wealth through innovation
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Continuing the digital shift through artificial intelligence
The digital shift in education must continue at a sustained pace. Artificial intelligence offers promising prospects for improving student retention, especially through predictive analysis of the risk of academic failure.
The government intends to support projects that experiment with artificial intelligence in educational settings, enabling the development of tools aimed at maximizing the effectiveness of interventions with students and promoting the success of the greatest number.
As part of the 2021-2022 Budget, the government plans to invest $10.6 million over two years to continue the digital shift through artificial intelligence.
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Providing scholarships to college students in information technology
To encourage college students to enter and stay in fields of study leading to information technology (IT) jobs, the government will provide Persistence Scholarships to college students, which could reach $2,850.
A similar scholarship was announced as part of the 2020-21 Budget for undergraduate students in engineering and computer science.
For example, in this budget, the government is investing $20 million by 2024-25 to provide these scholarships to college IT students.
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Fostering attraction and graduation in information technology
The government wants to give colleges and universities as much flexibility as possible to promote the graduation of IT students.
Support will be provided to colleges and universities so that they can develop pathways for students who lack certain prerequisites, offer part-time training forms, move closer to high school education, approach businesses to increase internships, promote work-study placements and increase interregional mobility.
At the college level, funding will be increased:
- $325 to reach $1,000 per student in IT fields
- $1,000 per student in the Computer Science and Mathematics pre-university program.
- At university, IT funding per student will be increased by $1,000.
- As part of the 2021-2022 Budget, a total of $75 million for the 2021-2022 to 2023-2024 period is planned to support attraction and graduation in IT disciplines.
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Initiatives to address labour shortages in information and communications technology
Recent actions to support the IT sector
Including the $181.4 million for measures in this budget, more than $450 million will have been announced in the past year to address labour shortages in IT.
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Increasing productivity and stimulating business investment
To increase productivity and stimulate business investment, the government plans, as part of the 2021-2022 Budget, to invest nearly $2.2 billion over six years to:
- Connect all Quebecers to high-speed Internet
- Encourage businesses to adopt new technologies to increase their productivity
- Continue to invest in strategic sectors of Quebec’s economy.
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Encourage businesses to adopt new technologies to increase productivity
To encourage businesses to adopt new technologies to increase their productivity, the government is providing nearly $753 million over five years in the 2021-2022 Budget to:
- Accelerate the acquisition of new technologies by businesses
- Encourage investment by improving the tax holiday for major investment projects
- Reduce the SME tax rate to the same level as Ontario (effective March 12, 2021)
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Accelerate business acquisition of new technologies
To encourage businesses to accelerate their investments in new technologies, the government is announcing that the C3i [Investment and Innovation Tax Credit] rates will be doubled until December 31, 2022. As a result, rates will increase:
- 10% to 20% for investments in the metropolitan communities of Montreal and Quebec City
- 20% to 40% for investments in areas experiencing low economic vitality
- 15% to 30% for investments in another territory or region.
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Supporting innovative projects
To accelerate economic growth and improve the competitiveness of Quebec businesses, the government is providing $29.0 million over two years to:
- Establish the Innovation Council to support Quebec’s Chief Innovation Officer
- Continue to set up innovation zones
- Supporting Quebec’s accelerators and incubators
- Simplify the tax credit for university research and development (R&D).
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Investing in infrastructure and research centres
The emergence of new technology companies and Quebec innovations requires high-level research infrastructures and significant financial support.
To support infrastructure and research centres, the government is providing $133.4 million to:
- invest in research and Quebec’s innovation infrastructure
- Renew financial support for the National Optics Institute
- Support the Centre de recherche informatique de Montréal.
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Supporting innovation in strategic areas
The development of innovative solutions in the forestry, tourism and cybersecurity sectors will help strengthen the competitive edge of many Quebec businesses.
To support innovation in these strategic areas, the 2021-22 Budget provides $55.5 million over three years, including:
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Enhance Quebec’s Cybersecurity Innovation Program
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