The table below presents financial data that demonstrate the significance of the activities of the Fonds de solidarité FTQ and how the Fonds creates wealth for its stakeholders.
This table should not be used as a substitute for the Fonds’ financial statements; it is intended to present certain financial data identified as material in accordance with the GRI.
Comments from Daniel Denis, partner and economist, KPMG/SECOR
The contribution of the Fonds partner companies to the Québec economy continued to grow in size in 2012: their activities generated added value estimated at $11.5 billion in Québec. The economic wealth created by the Fonds partner companies therefore climbed 6.7% compared to 2011. The Fonds partner companies thus gained more weight in the Québec economy in 2012, as the overall growth rate in Québec was a little less than 4% in the same period. This higher performance is the result of both the growth in activities of companies already in the portfolio and the increased number of companies in the portfolio.
The Fonds partner companies supported 135,867 direct and indirect jobs in 2012, which is a better performance in this area than the overall Québec economy. Total jobs supported by the Fonds partner companies increased 1.1% in 2012 compared to 2011, while overall employment only grew 0.8% in Québec during the same period.
In addition, the value added per job was $85,000 in 2012, which is a sizable increase over 2011 (5.1%) and well outpaces inflation for the year (2.1%). This growth is mainly due to the stronger addition of jobs in higher value-added sectors. With nearly $89,000 of value added per direct job, the Fonds partner companies contribute to growing Québec’s absolute and relative wealth.