Harper Government Helps Communities Across Canada Attract Job-Creating and Prosperity-Generating Investment
September 20, 2013 - The Honourable Ed Fast, Minister of International Trade, today announced that the federal government will contribute more than $3 million to 85 communities across Canada to assist their efforts in attracting new foreign investment. He made the announcement at the 110th Union of British Columbia Municipalities (UBCM) Convention in Vancouver.
The funding will help organizations, including 13 in British Columbia, attract and retain foreign direct investment (FDI) from around the world.
“Our government has an unwavering commitment to work with municipalities to attract and retain global investment because we know this helps create jobs, growth and prosperity in every region of the country,” said Minister Fast. “That’s why I’m pleased to announce funding today that will help ensure that investors from around the world continue to look to our communities as a destination of choice for new investment opportunities.”
The Government of Canada is pursuing a proactive FDI attraction strategy by highlighting Canada’s rock-solid economic fundamentals and investment advantages, including low taxes, a top-notch banking system, a skilled and multicultural workforce, and vibrant and safe communities. The strategy also targets industry sectors in which Canada offers clear comparative advantages to global business leaders to help positively influence investor decisions.
“Our government is focused on what matters to Canadians: jobs, growth and long-term prosperity, and attracting foreign investment is key to these efforts,” added Minister Fast. “We are proud to be working with local communities across Canada to help attract the investment that brings new opportunities and new sources of prosperity to workers and their families.”
Attracting new FDI with global partners will continue to be a priority as the government prepares for the next phase of the renewed Global Commerce Strategy, its blueprint to deepen Canada’s trade and investment ties around the world.
“Economic development is a key issue for B.C. communities,” said Mary Sjostrom, UBCM President. “I am pleased to see this federal support for efforts in B.C. to attract and retain foreign investment.”
Working with provincial, territorial and municipal investment partners, the Government of Canada’s Invest Canada - Community Initiatives (ICCI) program helped attract 147 new foreign businesses and expansion projects worth over $2.7 billion to the Canadian economy in 2012.
Since 2006, the ICCI program (formerly known as the Community Investment Support Program) has helped grow Canada’s economy by supporting 401 municipalities and community organizations through 918 projects in every region of Canada.
To learn more about the ICCI program, please consult Invest Canada - Community Initiatives (ICCI).
A backgrounder on the B.C. recipients follows.
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For further information, media representatives may contact:
Office of the Honourable Ed Fast
Minister of International Trade
Backgrounder - Invest Canada - Community Initiatives Program 2013-14 in British Columbia
Invest Canada - Community Initiatives (ICCI) is one of the three components of the Government of Canada’s Global Commerce Support Program, which was established in December 2008. ICCI is designed to help Canadian communities attract, retain and expand foreign direct investment. The program supports non-profit and public-private partnerships at the local community level.
ICCI funding recipients from British Columbia:
- Central Okanagan Economic Development Commission - $3,000
- Chilliwack Economic Partners Corporation - $20,000
- City of Pitt Meadows - $24,462
- Community Futures Development Corporation of Central Kootenay - $14,375
- District of Hope - $15,344
- District of North Vancouver - $8,000
- Greater Victoria Development Agency - $9,750
- Initiatives Prince George Development Corporation - $35,050
- Salmon Arm Economic Development - $7,545
- Thompson-Nicola Regional District - $35,386
- Venture Kamloops Business Development Society - $6,300
- Lakes Economic Development Association - $4,236
- Vancouver Economic Commission - $86,500
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