Economic Recovery
During the 1980s and early 1990s, Montreal experienced a slower rate of economic growth than many other major Canadian cities. By the late 1990s, however, Montreal's economic climate had improved, as new firms and institutions began to fill the traditional business and financial niches.
As the city celebrated its 350th anniversary in 1992, construction began on two new skyscrapers: 1000 de La Gauchetière and 1250 René-Lévesque. Montreal's improving economic conditions allowed further enhancements of the city infrastructure, with the expansion of the metro system, construction of new skyscrapers, and the development of new highways, including the start of a ring road around the island. The city attracted several international organisations that moved their secretariats into Montreal's Quartier International: International Air Transport Association (IATA), International Council of Societies of Industrial Design (Icsid), International Council of Graphic Design Associations (Icograda), International Bureau for Children's Rights (IBCR), International Centre for the Prevention of Crime (ICPC) and the UNESCO Institute for Statistics (UIS). With developments such as Centre de Commerce Mondial (World Trade Centre), Quartier International, Square Cartier, and proposed revitalization of the harbourfront, Montreal is regaining its international position as a world-class city.
Read more about this topic: History Of Montreal
Famous quotes containing the words economic and/or recovery:
“A two-parent family based on love and commitment can be a wonderful thing, but historically speaking the “two-parent paradigm” has left an extraordinary amount of room for economic inequality, violence and male dominance.”
—Stephanie Coontz (20th century)
“With any recovery from morbidity there must go a certain healthy humiliation.”
—Gilbert Keith Chesterton (1874–1936)