During the Quiet Revolution, the government of Quebec invested heavily in the province's industries. A large component of this was nationalizing some predominant industries into state run business, for example Hydro-Québec, in an attempt to modernize the economy and to encourage the development of francophone businesses. It was during this period that the government established the Caisse de dépôt et placement du Québec, the Régie des rentes and the Société générale de financement to promote the development of the industries in Quebec. In 1961, the Conseil d’orientation économique was established to promote economic growth of the regions of Quebec, growth which was once heavily funded by the Government of Canada.