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Harper Government Helps Local Communities Attract International Investment to Secure Jobs, Growth and Prosperity for Canadians
Minister Fast announces funding for 99 organizations and promotes Canada as an investment destination of choice
(No. 318 - October 24, 2011 - 12:30 p.m. ET) The Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, today announced that the Government of Canada is providing funding to 99 organizations across Canada to support their efforts to attract, retain and expand foreign direct investment in their local communities.
“In today’s global economy, foreign direct investment is a key driver of economic growth and prosperity,” said Minister Fast at an event in Toronto hosted by the Greater Toronto Marketing Alliance (GTMA), one of the recipient organizations. “The funding announced today will help ensure that investors from around the world look to Canadian communities as destinations of choice for new business opportunities.”
The funding is provided under the Invest Canada - Community Initiatives (ICCI) program, which helps communities across the country attract, retain and expand foreign direct investment. The program supports non-profit and public-private groups at the local level and works through partnerships and cost-sharing arrangements.
In Ontario, 20 organizations will benefit from funding under this program. Besides the GTMA, other recipients include the Niagara Economic Development Corporation, the Ottawa Centre for Research and Innovation and the Dryden Development Corporation. These organizations are developing strategies and tools to attract foreign investment in key sectors of the economy such as the automotive, medical, defence and energy sectors.
“In order for Canada to succeed globally, we need to have strong regions that are investment ready and well positioned for global competitiveness,” said George Hanus, GTMA President and Chief Executive Officer. “There is no better example than here in the Greater Toronto Area, where ICCI has created enormous economic benefits by supporting our regional international investment attraction programs. This, in turn, has created over 3,200 direct jobs, $5 million in annual property taxes and has conservatively added over $300 million to the local economy.”
Since 2006, the ICCI program has helped create jobs and prosperity, while growing Canada’s economy, by supporting 380 organizations through 779 projects.
“In these globally challenging times, Canadians remain concerned about their jobs and their children’s futures,” added Minister Fast. “Our government has an economic plan to meet these challenges—a plan with deeper trade and low taxes as its centerpiece. Thanks to government support for local communities, low-tax policies, strong economic fundamentals and a skilled, innovative workforce, Canada remains an excellent destination for new investment.”
For more information on Minister Fast’s announcement, please visit Attracting Foreign Investment to Canada.
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A backgrounder follows.
For further information, media representatives may contact:
Rudy Husny
Press Secretary
Office of the Honourable Ed Fast
Minister of International Trade and Minister for the Asia-Pacific Gateway
613-992-7332
Trade Media Relations Office
Foreign Affairs and International Trade Canada
613-996-2000
Follow us on Twitter: @Canada_Trade
Backgrounder - Invest Canada - Community Initiatives
The Invest Canada - Community Initiatives (ICCI) program—one of the components of the Government of Canada’s Global Commerce Support Program—funds up to 50 percent of community-based activities aimed at developing and executing local investment attraction strategies. Applications are evaluated based on criteria that include the proposed strategy, project components, performance measures, work plan and the level of public-private sector partnership. Funding amounts for this year range from $3,780 to $252,500.
Eligible communities can apply for funding once a year following the guidelines found at Invest Canada - Community Initiatives (ICCI).
The ICCI program was established by the Government of Canada in December 2008. It is designed to help Canadian communities attract, retain and expand foreign direct investment. ICCI supports non-profit and public-private partnerships at the local community level.
Since 2006, the program has supported 380 organizations through 779 projects valued at $24 million. This year, 99 organizations across Canada are receiving funding from the Government of Canada for more than $3 million.
Applications are evaluated based on their foreign direct investment attraction and retention strategies, project components, performance measures, capacity, work plan and the level of public-private sector partnership.
Under ICCI, the Government of Canada’s non-repayable contributions can range from $3,000 to $300,000. The program provides matching funds of up to 50 percent of eligible expenses. If a community accesses other federal government support, the total federal support cannot exceed 50 percent.
List of 2011-12 ICCI recipients
British Columbia
- Chilliwack Economic Partners Corporation - $10,650
- City of Coquitlam (Metro Vancouver) - $4,045
- City of Cranbrook - $20,000
- City of Langley - $6,500
- City of Pitt Meadows - $30,300
- City of Revelstoke - $7,500
- City of Terrace - $6,756
- City of Vernon - $14,643
- District of Lillooet - $3,780
- District of Maple Ridge - $7,850
- District of North Vancouver - $11,637
- District of Port Hardy - $18,550
- Initiatives Prince George - $7,733
- K.T. Industrial Development Society - $14,188
- Lakes Economic Development Association - $11,250
- Northern Development Initiative Trust - $48,400
- Northern Rockies Regional Municipality - $34,650
- Penticton Economic Development Services - $16,396
- Prince Rupert and Port Edward Economic Development Corporation - $14,000
- Regional District of Bulkley-Nechako - $14,721
- Venture Kamloops Business Development Society - $4,035
- Quesnel Community and Economic Development Corporation - $5,075
Nunavut
- Nunavut Economic Developers Association - $20,000
Alberta
- Alberta’s Industrial Heartland Association - $125,000
- Calgary Economic Development - $17,850
- Calgary Regional Partnership Incorporated - $25,000
- City of Red Deer - $38,750
- Economic Developers Association of Alberta - $15,450
- Economic Development Alliance of Southeast Alberta - $25,121
- Joint Economic Development Initiative - $9,936
- Leduc-Nisku Economic Development Authority - $51,653
- Olds Institute for Community and Regional Development - $10,250
- Palliser Economic Partnership - $35,000
Saskatchewan
- Coronach Economic Development Committee - $4,350
- Lloydminster Economic Development Corporation - $25,000
- Meadow Lake Tribal Council Resource Development LP - $20,000
- North Central Enterprise Region - $37,500
- North West Enterprise Region Inc. - $10,000
- Regina Regional Opportunities Commission - $26,250
- Saskatchewan Economic Development Association - $22,462
- West Central Enterprise Region - $40,000
- Saskatoon Regional Economic Development Authority Inc. - $19,250
- Southwest Enterprise Region - $10,800
Manitoba
- Central Plains Inc. - $10,000
- City of Brandon - $47,475
- Economic Development Winnipeg Inc. - $85,000
- Parkland Agricultural Resource Cooperative - $9,000
- Thompson Unlimited - $14,135
Ontario
- Sarnia Lambton Economic Partnership - $15,000
- Canada’s Technology Triangle Inc. - $210,000
- City of Brantford - $10,000
- City of Guelph - $62,500
- County of Huron - $8,750
- Dryden Development Corporation - $10,000
- Greater Toronto Marketing Alliance - $252,500
- London Economic Development Corporation - $70,000
- Middlesex County - $30,000
- Municipality of Meaford - $22,500
- Municipality of South Huron - $23,000
- Niagara Economic Development Corporation - $158,000
- Norfolk County - $30,000
- Ottawa Centre for Research and Innovation - $235,000
- Quinte Economic Development Commission - $20,750
- Regional Municipality of Halton - $80,000
- Toronto Region Research Alliance - $55,000
- Town of Kapuskasing - $24,462
- Town of Whitby - $47,500
- Val Rita-Harty Municipal Economic Community Development Corporation - $28,600
Quebec
- Aéro Montréal - $49,875
- Association des parcs de recherche et technopoles du Québec - $18,000
- Centre financier international de Montréal - $85,000
- Centre local de développement Vaudreuil-Soulanges - $25,000
- Centre local de développement des Pays-d’en-Haut - $23,600
- Centre local de développement Beauharnois-Salaberry - $32,000
- Montréal International - $201,975
- Montréal InVivo - $48,250
- Québec International - $90,500
- SADC Achigan-Montcalm - $16,500
- Sherbrooke Innopole - $52,000
- TechnoMontréal - $73,625
- Technoparc Montréal - $31,950
- Technopole maritime du Québec - $91,200
New Brunswick
- City of Miramichi - $48,500
- Enterprise Fredericton - $21,402
- Enterprise Greater Moncton - $19,200
- Enterprise Saint John - $50,000
- Enterprise Kent - $10,355
Prince Edward Island
- City of Summerside - $26,400
Nova Scotia
- Greater Halifax Partnership - $30,000
- Halifax Gateway Council - $20,000
- Lunenburg Queens Regional Development Agency - $20,000
- Municipality of East Hants - $15,000
Newfoundland and Labrador
- Irish Loop Development Board - $17,500
- Mariner Resource Opportunities Network Inc. - $5,000
- Newfoundland and Labrador Regional Economic Development Association - $11,859
- Town of Conception Bay South - $13,123
- Town of Stephenville - $10,000
- Town of Torbay - $9,030
- Northeast Avalon Regional Economic Development Board - $3,595
To learn more about Invest Canada - Community Initiatives, please consult Invest Canada - Community Initiatives (ICCI).
