FDI Fast Facts No. 7 – in an Invest in Canada Series
Harper Government Highlights Importance of Foreign Direct Investment to Business Services Sector
Proximity to, and cultural similarities with, the United States make Canada a major player in the business services sector, says International Trade Minister Fast
December 12, 2013 - The Honourable Ed Fast, Minister of International Trade, today said foreign direct investment is playing an important role in Canada’s dynamic business services sector, ensuring that Canada remains a world leader in this vital area.
“With one in 10 Canadian jobs linked to foreign investment, our government understands that attracting new investment to key sectors like business services creates prosperity for Canadian workers and their families,” said Minister Fast. “As in other areas of the economy, foreign investment in the business services sector spurs innovation and competitiveness and leads to good jobs and greater opportunity.”
The business services sector employs nearly 1.3 million Canadians. As a preferred destination for complex and high-value-added information technology and business offshoring, Canada has business services firms serving clients in more than 125 countries. Some notable examples of recent investments include:
- In Montréal, Quebec, France-based Alten, a technology and engineering firm, is opening a new office to serve the North American market, which could create more than 200 jobs.
- In Calgary, Alberta, U.S.-based Kleinfelder, a science, architecture and engineering consulting firm, is opening a new office to support clients in the oil and gas, water, industrial and commercial markets.
- In Dartmouth, Nova Scotia, U.S.-based Automatic Data Processing Canada, one of the world’s largest providers of human resources, payroll and benefits solutions software, plans to expand and add up to 250 new full-time jobs over five years.
“Backed by our talent, creativity and competitive costs, Canada continues to draw investors to the business services sector,” said Minister Fast. “In addition, businesses from around the world recognize that our strong banking sector, low taxes and vibrant, safe communities contribute to their winning formulas. Our government will continue to position Canada as a destination of choice for global investors.”
Minister Fast is noting the benefits of foreign direct investment to various sectors in Canada’s economy in the lead-up to this month’s release of the 2013-2014 annual report from Invest in Canada.
For more information, please visit Invest in Canada.
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For further information, media representatives may contact:
Office of the Honourable Ed Fast
Minister of International Trade
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