Minister Van Loan announces Invest Canada-Community Initiatives assistance for communities across Ontario
(No. 288 – September 13, 2010 – 8:30 a.m. ET) The Honourable Peter Van Loan, Minister of International Trade, today announced that 21 municipalities and local organizations in Ontario will receive more than $1.3 million through the Government of Canada’s Invest Canada-Community Initiatives (ICCI) program. This year, the government is investing a total of $3 million to help local organizations across Canada attract foreign direct investment to their communities.
“Canada is among the most successful and innovative economies in the world, offering many advantages to investors wishing to pursue new business opportunities,” said Minister Van Loan. “Invest Canada-Community Initiatives is creating jobs and prosperity for Canadians by helping communities and local organizations across Ontario attract and retain foreign investment in health research, bio-technology, information and communications technology, renewable energy and the agri-food sectors.”
“Ontario is the largest destination for foreign investment in Canada,” said the Honourable Jim Flaherty, Minister of Finance. “This program is helping communities from Toronto to Whitby and from North Bay to White River connect with foreign investors.”
Minister Van Loan made the announcement in Toronto at MaRS Discovery District, a large-scale innovation centre focused on building Canada’s next generation of technology and social-purpose companies.
Minister Van Loan also met with a number of ICCI funding recipients, including George Hanus, President and Chief Operating Officer of the Greater Toronto Marketing Alliance (GTMA), and Patrick Draper, President and Chief Executive Officer of the Toronto Region Research Alliance (TRRA).
GTMA received $210,000 to develop several foreign direct investment (FDI) initiatives, including a program to generate leads in the financial services industry, a new investment publication and new economic forecasts for hot sectors and hot markets. TRRA received $140,000 to identify FDI leads in the bio-technology and life sciences sector and increase knowledge and understanding of the needs of local companies in the agri-food industry.
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
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. ICCI 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 valued at $16.7 million. This year, 21 organizations in Ontario will receive a total of $1,328,384 in funding from the Government of Canada.
Applications are evaluated based on their strategies for attracting and retaining foreign direct investment, project components, performance measures, capacity to complete the projects, work plans and the level of public-private sector partnership.
Under the ICCI program, the government’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.
Recipient: Greater Toronto Marketing Alliance
Projects: Develop a new publication on FDI; review and upgrade the GTMA website; develop a financial services lead-generation program; develop initiatives on advanced manufacturing; develop FDI initiatives for South America; develop new economic forecasts for hot sectors and hot markets.
Recipient: Toronto Region Research Alliance
Projects: Identify leads in the bio-life science sector in Asia; analyze the needs of the agri-food industry; research support capacity for local communities; survey agri-food companies in southwestern Ontario.
Recipient: London Economic Development Corporation
Projects: Research FDI opportunities in the medical devices sector; conduct a cost-competitiveness study; identify business development leads for the airport distribution centre; research targeted markets/companies in the food processing and advance manufacturing sectors; generate FDI leads for the Ontario Technology Corridor.
Recipient: Town of Oakville Economic Development
Project: Develop a concept plan for a life science and technology park.
Recipient: City of Woodstock
Projects: Develop an integrated marketing strategy; develop and design collateral marketing materials.
Recipient: Niagara Economic Development Corporation
Projects: Generate business leads in the bio-products and wind energy sectors; provide FDI economic development training; pursue an investment business case development project.
Recipient: County of Bruce
Projects: Research and compile economic development data; develop and implement web-based tools.
Recipient: Canada’s Technology Triangle
Projects: Develop success stories and business cases; implement business and investment attraction programs; follow up on targeted specific potential FDI investors.
Recipient: City of Mississauga
Project: Prepare an economic development strategy.
Recipient: Ottawa Centre for Research and Innovation
Projects: Develop a North America Access Centre lead-generation program; develop a marketing plan to promote sectors enabled by Ottawa’s information and communications technology strengths; develop an Ontario Technology Corridor clean technology program and business retention and expansion program.
Recipient: Southwestern Ontario Marketing Alliance
Project: Update marketing materials.
Recipient: Town of Warwick
Project: Develop an FDI marketing plan.
Recipient: Windsor Essex Development Commission
Projects: Develop several initiatives to promote the automotive sector; develop new branding/website; develop the Ontario Automotive Community Alliance’s value proposition; conduct company research and lead generation.
Recipient: City of North Bay
Projects: Conduct research/data collection; develop an aerospace sector strategy; analyze asset inventories and gaps and develop collateral marketing materials.
Recipient: Burlington Economic Development Corporation
Project: Implement an FDI strategy.
Recipient: Regional Municipality of Durham
Project: Prepare Durham region for bio-based FDI.
Recipient: City of Cambridge
Project: Conduct analysis of the manufacturing sector.
Recipient: City of Kawartha Lakes
Projects: Assess investment readiness; develop a website; develop an FDI marketing and promotional strategy.
Recipient: City of Port Colborne
Project: Generate targeted leads.
Recipient: Township of White River
Project: Prepare business case aimed at attracting innovative renewable energy and forestry businesses.
Recipient: Ontario East Economic Development Commission
Project: Develop an international investment strategy.