Government of Canada Supports Communities in British Columbia to Attract Foreign Investment and Create Jobs
Minister Van Loan announces Invest Canada-Community Initiatives awards for communities across British Columbia
(No. 258 - August 16, 2010 - 2 p.m. ET) The Honourable Peter Van Loan, Minister of International Trade, today announced that 23 community organizations in British Columbia will receive more than $365,000 through the Government of Canada Invest Canada-Community Initiatives (ICCI) program. This year the Harper government is investing $3 million to help local organizations across Canada attract foreign investment to their communities.
“With one of the most successful and innovative economies in the world, Canada offers many advantages as a business partner and a place to invest,” said Minister Van Loan. “This program will provide funding to community organizations in British Columbia so they can continue to promote Canada as the best place in the world in which to do business, now and in the years ahead.”
“From our leadership in technology-related sectors to our position as a strategic hub between North America and Asia, British Columbia is an economically diverse province that has a lot to offer,” said the Honourable Stockwell Day, President of the Treasury Board and Minister for the Asia-Pacific Gateway. “Our government’s investment in this program is helping communities from Vancouver to Prince George and from the Okanagan to Vancouver Island make connections with foreign investors.”
While in British Columbia, Minister Van Loan will meet with officials from the Vancouver Economic Development Commission and Metro Vancouver, whose organizations received $26,331 and $19,500, respectively. The funds announced today will be used by these organizations to develop strategies, training and materials to attract investment.
Minister Van Loan will also meet with officials from the City of Coquitlam, which received $9,325 to develop the best options for pursuing foreign direct investment and training, and the District of North Vancouver, which received $10,000 to help attract investors from South Korea.
The ICCI program helps communities in all provinces and territories attract, retain and expand foreign direct investment. It supports non-profit and public-private groups at the local community level.
For more information, visit Invest Canada-Community Initiatives.
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A backgrounder follows.
For further information, media representatives may contact:
Office of the Honourable Peter Van Loan
Minister of International Trade
Trade Media Relations Office
Foreign Affairs and International Trade Canada
Backgrounder - Invest Canada-Community Initiatives
The Invest Canada-Community Initiatives (ICCI) program is one of the three components of the Global Commerce Support Program established by the Government of Canada in December 2008. It is designed to help Canadian communities attract, retain and expand foreign direct investment (FDI). ICCI supports non-profit and public-private partnerships at the local community level.
Between 2006 and 2009, ICCI, formerly known as the Community Investment Support Program, supported 321 communities through 573 projects for a total of over $16.7 million. This year, 23 organizations in British Columbia will receive a total of $365,796 in funding from the federal government.
Applications are evaluated based on their strategies for attracting and retaining foreign direct investment, project components, performance measures, capacity to complete the project, work plan and the level of public-private sector partnership.
Under the ICCI program, the Government of Canada’s non-repayable contributions range from $3,000 to $300,000, and agreements are made for a one-year period, from January 1 to December 31. The ICCI program provides matching funds of up to 50 percent of eligible expenses. Communities may receive support from other federal government programs; however, the total federal support must not exceed 50 percent.
2010 recipients in British Columbia
Recipient: Chilliwack Economic Partners Corporation
Projects: Chilliwack community profile, site selector and website
Recipient: City of Coquitlam
Projects: Training session on FDI; increasing the marketing reach of the City of Coquitlam through the translation of key economic development documents; research on best options for foreign direct investment pursuit
Recipient: Metro Vancouver (submitted by City of Coquitlam)
Projects: Development of an FDI strategic plan for Metro Vancouver Commerce
Recipient: City of Pitt Meadows
Projects: Development of targeted agri-food and aerospace investment attraction strategies; website redevelopment; training
Recipient: City of Terrace
Projects: Economic development marketing and attraction-training; gap analysis and opportunity study
Recipient: District of Lillooet
Project: Investment attraction and retention training
Recipient: District of Maple Ridge
Projects: Research on investment-ready commercial or industrial land; investment training for economic development staff
Recipient: District of North Vancouver
Project: Research to identify potential foreign investors in South Korea who are interested in Vancouver, Canada
Recipient: District of Stewart
Projects: Regional asset inventory analysis; development of corporate profiles and contact management database
Recipient: District of Summerland
Project: Building partnerships to market FDI through social media
Recipient: District of Tumbler Ridge
Project: Investment and retention toolbox and economic development training
Recipient: Economic Development Cowichan
Project: Investment readiness assessment project
Recipient: Greater Victoria Chamber of Commerce
Project: Development of Greater Victoria FDI guide
Recipient: Initiatives Prince George Development Corporation
Project: Development of multilingual foreign direct investment attraction materials, with a focus on Chinese, Korean and Japanese languages
Recipient: Misty Isles Economic Development Society
Project: Haida Gwaii Product Development Investment Strategy
Recipient: Northern Development Initiative Trust
Project: Development of FDI strategic plan and foreign investment attraction marketing collateral
Recipient: Penticton Economic Development Services
Project: Investment development training
Recipient: Prince Rupert and Port Edward Economic Development
Projects: Development of investment opportunity profiles; training for economic development staff.
Recipient: Quesnel Community and Economic Development Corporation
Projects: Website redesign and translation; training of economic development staff
Recipient: Regional District of Bulkley-Nechako
Project: Development of a regional district asset mapping database and training.
Recipient: Regional District of Central Okanagan
Projects: Development of a strategy to attract ICT investment from the U.K.; Japanese market development; development of economic profiles and site selection tool kit
Recipient: Vancouver Economic Development Commission
Projects: Development of new tools in creative industries and green enterprise sectors; training of staff; translating of key FDI materials
Recipient: Venture Kamloops Business Development Society
Projects: Website infrastructure redesign; development of marketing materials; customization of database and investment attraction software; training
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