Invest Canada-Community Initiatives Announcement by Minister Van Loan at Coquitlam City Hall

No. 2010/52 – Coquitlam, British Columbia - August 16, 2010

Check Against Delivery

I’m pleased to be in Coquitlam to talk about how the Government of Canada is working with communities across British Columbia to attract and retain foreign investment.

I would first like to acknowledge the presence today of Acting Mayor Lou Sekora.

Earlier this year, Canada showed the world its very best during the Olympic and Paralympic Games in Vancouver.

Today, I am pleased to announce that this year, under the Invest Canada-Community Initiatives program, our government is contributing more than $365,000 to 23 recipients across British Columbia.

This funding will help those organizations to market their communities to the world and create jobs for Canadians.

This funding will build on the success of the 2010 Olympic and Paralympic Winter Games, which promoted Canada as one of the best places in the world in which to live, work and invest.

This year, the eyes of the world have been on Canada. As hosts of the Winter Olympics and then the G-8 and G-20 summits in June, we showed the world what Canada has to offer:

  • an open and attractive free enterprise environment, ranked by the Economist Intelligence Unit as the best place to do business in the G-7 this year and over the next four years;
  • the strongest fiscal position in the G-7;
  • low corporate taxes—Canada is on track to having the lowest corporate income tax rate in the G-7 by 2012;
  • the fastest predicted economic growth in the G-7 over the next two years, according to both the International Monetary Fund and the Organisation for Economic Co-operation and Development;
  • a skilled workforce, with the highest proportion of post-secondary graduates among countries of the Organisation for Economic Co-operation and Development;
  • a vibrant environment for innovation, with one of the most advantageous research and development tax incentive programs in the industrialized world;
  • a strong commitment to good governance and the rule of law; and
  • an outstanding quality of life.

Our government promoted these key competitive advantages to the world while Canada was at the centre of the world’s attention this year.

And our government will continue to promote Canada’s competitive advantages, investing a total of $3 million this year under the Invest Canada-Community Initiatives program to support local organizations across Canada as they work to attract, retain and expand foreign direct investment in their communities and in our country.

One of this year’s recipients is the City of Coquitlam. We are proud to support Coquitlam’s efforts to develop a strategy to pursue investment attraction.

Coquitlam understands the significant benefits of foreign investment. This city knows that foreign investment has a positive impact on the Canadian economy—creating jobs and prosperity.

By supporting the efforts of communities in British Columbia and across Canada, our government continues to get the message out about Canada’s key investment advantages in the highly competitive global market.

Thank you.