Canada Chosen Again for Job-Creating Investment
Close to 200 jobs expected to be created in Vancouver
March 17, 2014 - Vancouver, British Columbia - Foreign Affairs, Trade and Development Canada
The Honourable Ed Fast, Minister of International Trade, today praised Canada’s welcoming, low-tax business environment and excellent standard of living for attracting job-creating investment in Canada. Minister Fast made his remarks at the official opening of Industrial Light & Magic’s new visual-effects facility in Vancouver.
Minister Fast joined Naomi Yamamoto, B.C.’s Minister of State for Small Business, in congratulating the president of Industrial Light & Magic (ILM), Lynwen Brennan, and the president of Lucasfilm, Kathleen Kennedy, for choosing Vancouver for ILM’s new state-of-the-art studio.
The offices of the Canadian Trade Commissioner Service in Palo Alto and San Francisco, California, in cooperation with the Government of British Columbia, played key roles in supporting and encouraging this investment, which is expected to create close to 200 new jobs, mostly in production and visual effects. ILM is an Academy Award-winning visual-effects company that employs 1,500 people worldwide.
British Columbia is a growing hub of cutting-edge, digital-media expertise. The Government of Canada is committed to creating the conditions and attracting the type of investment that will lead to more high-paying jobs, foster new innovation and creativity, and further stimulate productivity and economic growth in Canada.
Information and communications technology has been identified as a priority sector in the Government of Canada’s Global Markets Action Plan, released in November 2013.
- According to the Information and Communications Technology Council, between 2,300 and 3,200 digital-media firms in Canada employ more than 52,000 people and generate annual revenues of over $3.5 billion.
- Since the making of the 1977 feature film Star Wars, Industrial Light & Magic has created visual effects for nearly 300 feature films and has been recognized with 15 Academy Awards.
- British Columbia is home to the highest number of interactive game companies in Canada and one of the largest film and television industries in North America, with more than 900 companies involved in the digital-media industry.
- Canada is the best country in the G-20 for business, according to both Forbes and Bloomberg magazines.
- The Economist Intelligence Unit says Canada will be the best country in the G-7 in which to do business over the five-year period from 2014 to 2018.
- Canada is the easiest place to start a business in the G-7, according to the World Bank.
- Canada was the second-largest recipient of foreign direct investment (FDI) inflows per capita in the G-20 from 2008 to 2012, and it has posted the strongest FDI growth in the G-7 during the period of recovery since the 2008 recession.
- A.T. Kearney’s 2013 Foreign Direct Investment Confidence Index ranks Canada as a highly attractive destination for foreign investors, placing Canada second among G-7 countries and fourth among G-20 countries.
“This job-creating investment in Vancouver is further proof that Canada’s low-tax business environment is getting results. Creating the right conditions to attract business to create jobs and opportunities from coast to coast is a priority for our government. I congratulate Industrial Light & Magic and wish them continued success.”
Ed Fast, Minister of International Trade
- Global Markets Action Plan
- Minister Fast Welcomes New, Job-Creating Japanese Investment in Digital Media Sector
- Canadian Trade Commissioner Service in Palo Alto, California
- Canadian Trade Commissioner Service in San Francisco, California
Office of the Honourable Ed Fast
Minister of International Trade
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