By Stephanie MacFarlane
The economic environment is coping relatively well with the upheavals caused by the COVID-19 pandemic. In 2021, 85 new businesses were created in Saint-Jean-sur-Richelieu, while 79 businesses ceased operations. This data is taken from the 2021 commercial report produced by the City’s Economic Development division.
This assessment compares favorably with those drawn up in 2019 and 2020. Before the pandemic, 67 new businesses had started their activities, while 78 had closed their doors. In 2020, the territory ended the year with a deficit of five businesses, as there were 79 openings and 84 closings.
“The 2021 commercial balance sheet is relatively equivalent to that of recent years. Regardless of the pandemic, we really notice a stability in the number of businesses that close and open, ”observes Sophie Latour, head of the economic development division of the City of Saint-Jean-sur-Richelieu.
New businesses include Cinéma Guzzo, Alt & Go, Escale santé frankment keto, Le Noise, Expérience baseball, La Grange à vin, Allô mon coco, Roots Cantine, Pizza Salvatoré, Pastel Café Gourmand and a second branch of Bonbon Noix. and co. “Entrepreneurship is still there. There are entrepreneurs who want to start businesses. I find it stimulating and interesting to see this interest that persists over time,” continues Ms. Latour.
In addition to entrepreneurs’ resilience, agility and ability to seize opportunities, consumer interest in buying local is among the hypotheses considered to explain the results. The Johann market, which is not dependent on the tourist industry, would also have something to do with it. However, the analysis is not scientific. “For the moment, this is how we see the situation. This is the current context of commerce in Saint-Jean-sur-Richelieu”, continues Sophie Latour.
Moving house
Of the 79 businesses that closed in 2021, there were 66 businesses and service businesses as well as 13 professional offices.
Thirty-nine companies already present in Saint-Jean-sur-Richelieu also changed address last year. The SAQ, Rookery, Lord Photo, Bloom Jardinerie Salon, Joaillerie Langevin, Construction Richelieu as well as Bertrand the caterer, signed Voiles au vent are among them.
As in 2020, the Economic Development Division did not conduct a census to find out the number of jobs in retail, service and restaurants. The team would like to be able to carry out this exercise again at the end of 2022 if the pandemic situation returns to normal.
Vacancy rate
The vacancy rate for commercial premises remained stable at 13%. As of December 31, 2021, 295 commercial spaces were vacant in Saint-Jean-sur-Richelieu. This corresponded to 93,000 square meters of area.
“There are several sectors of the City where the vacancy rate has decreased. In the Douglas sector, everything is busy,” says Sophie Latour. In the city center, she points out that projects are in motion, in particular in the vacant premises since the closing of the Tequila, Cognac and Route 66 bars.
However, the office space vacancy rate is high. The City has adopted a program to promote the establishment of offices in Vieux-Saint-Jean.
Only one construction permit for a commercial building was issued in 2021, that is for the future A&W restaurant, at the corner of Séminaire Nord and Saint-Louis. Commercial renovations, however, have been popular. More than $14 million was invested in commercial buildings. This is an increase of almost 50% compared to 2020. That year, more than $9.6 million had been invested.
Immovable
Forty-six commercial buildings were involved in a real estate transaction in 2021. The value of the sales amounts to approximately $42 million. “More than 65% of the transactions made relate to commercial buildings whose sale prices are below the million dollar mark,” reads the commercial balance sheet. In 2020, 33 buildings had been sold. The value of the transactions totaled $66 million.
