Economy Of Laval

Economy

Laval’s diverse economy is centered around the technology, pharmaceutical, industrial and retail sectors. It has many pharmaceutical laboratories but also stone quarries and a persistent agricultural sector. Long seen as a bedroom community, Laval has diversified its economy, especially in the retail sector, developing numerous shopping malls, warehouses and various retail stores. Laval has four differentindustrial parks .

The first is Industrial Park Centre, in the heart of Laval at the corner of St. Martin West and Industriel Blvd. It is One of the largest municipal industrial parks in Quebec, the Industrial Park Centre boasts the highest concentration of manufacturing companies in Laval; 1,024 at last count, and 22,378 employees. The park still has 1,300,643 m² of space available.

The second, the Autoroute 25 Industrial Park is at the crossroads of the metropolitan road network. Inaugurated in 2001, this new industrial municipal space has been a tremendous success, boasting an 80% occupancy rate. Laval is studying the possibility of expanding this park in the next few years.

The third, known as Industrial Park East, is in the neighbourhood of Saint-Vincent-de-Paul. This park has reached full capacity with a 100% occupancy rate. Industrial Park East is currently part of a municipal program to revitalize municipal services and public utilities. Laval is working with a private developer on an expansion project for the park that should be announced in the near future.

The fourth industrial park, the Laval Science and High Technology Park is located along Rivière des Prairies and Autoroute 15. It is an internationally renowned science campus that houses the Biotech City and the Information Technology Development Center (ITDC). The Laval Science and High Technology Park is a beacon of the metropolitan economy, in an environment befitting the best technopolises in the world. Nearly 500,000 square meters (5,380,000 sq ft) of space are available for development. The Biotech City spans the entire territory of the Laval Science and High Technology Park and is a unique concept in Canada in that its residents comprise both universities and companies.