Amazon, a large rental customer of the Caisse de Depot et Placement

While the state of Quebec is betting heavily on the Blue Basket to counter Amazon’s influence, the American giant is a key tenant of the Caisse de depot et placement du Quebec (CDPQ), he learned The newspaper.

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“We currently have ten buildings across Canada and the United States where Amazon (and/or its affiliates) are tenants,” the public affairs team at Ivanhoé Cambridge, the company’s real estate arm, confirmed to CDPQ.

But no question to say where these buildings are. The newspaper however, was able to confirm that Ivanhoé partially owns an Amazon distribution center near Saint-Hubert Airport.

Institutional investors like the Caisse have invested heavily in warehouses and industrial buildings in recent years to capitalize on the excitement surrounding the e-commerce explosion.

For example, the British Columbia equivalent of the Caisse, BCI, owns two of Amazon’s warehouses located in Quebec The newspaper.

In addition to $880 million in stock

In addition to its rental activities on Amazon, the Caisse has invested hundreds of millions in the American multinational on the stock exchange.

The Caisse held just over $880 million worth of Amazon stock at the end of March, according to a statement filed with US securities regulators.

mid-July, The newspaper reported that Local traders are stamping their feet so that the state can once and for all force the web giants to pay their fair share of taxes.

“SMEs understand that competition is part of the equation. All they ask is to be treated fairly with their peers in large multinational companies,” said François Vincent, vice president for Quebec at the Canadian Federation of Independent Business (CFIB).

In the interview at protocolFranck Jovanovic, a professor at TÉLUQ’s School of Administration, has added a shift in recent days.

“The discourse that multinational companies allow about job creation and foreign direct investment in Canada is a marketing discourse,” he said.

According to him, it’s not about the jobs these giants create, it’s about the balance (what they create less what they destroy) and the nature of the jobs (low-value-added jobs and low-income jobs).

“Multinationals like Amazon are contributing to the closure of small businesses by lowering their tax rate to a rate close to zero at the level of the group’s consolidated financial statements,” he concluded.

Recall that Amazon paid no taxes in Europe on its $55 billion sales last year Bloomberg.

Yesterday Amazon did not respond to questions from the protocol regarding his dealings with the wool stockings of the Quebecers.

Amazon in Quebec

  • 6 Warehouses (in Laval, Longueuil, Montreal and Côteau-du-Lac)
  • 1 Data Center (Varennes)
  • More than 850 employee

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