Global Affairs Canada helps Canadian communities attract job-creating investment
News Release
June 2, 2017 - Ottawa, Ontario - Global Affairs Canada
International trade and investment are vital to Canada’s economic growth and prosperity. More international investments in Canada mean more jobs for Canadian workers, more growth for our economy and a stronger middle class.
On behalf of the Honourable François-Philippe Champagne, Minister of International Trade, the Honourable Andrew Leslie, Parliamentary Secretary to the Minister of Foreign Affairs (Canada-U.S. Relations), will announce June 3 that the Government of Canada is providing $3.5 million to 77 communities across the country to support initiatives to attract retain or expand investment. This will help communities across Canada grow and prosper. More trade means more growth and more growth means better jobs for the middle class. The Parliamentary Secretary will make the announcement while speaking to mayors, councillors and officials from communities across Canada at the annual general meeting of the Federation of Canadian Municipalities (FCM) in Ottawa, Ontario.
Funding is being provided through Invest Canada – Community Initiatives (ICCI), a Global Affairs Canada program. It helps Canadian communities and local economic-development agencies market themselves better as locations of choice for international investors and job creation. Communities use ICCI contributions in a number of ways, including for supporting strategic planning and analysis, finding prospective investors, developing marketing material, training personnel and providing ongoing post-investment support.
Canada already offers investors many competitive advantages. Canada is a great place for doing business: its business taxes and overall business costs are among the lowest in the G7 and it has free trade agreements with major world markets.
In late 2017, the Government of Canada will expand its global investment-attraction efforts with the launch of a new investment-promotion agency led by a chief executive officer. With a $218-million allocation over five years, the new investment hub will work in cooperation with federal, provincial and municipal partners to ensure that Canada makes the most of every opportunity to attract global investment and the jobs that come with it.
Quotes
“Attracting foreign investors is key to Canada’s prosperity and growing the middle class. The ICCI program helps our communities sell the business advantages they offer and why Canadian towns, cities and regions from coast to coast to coast are among the best places in the world to do business.”
- François-Philippe Champagne, Minister of International Trade
“Municipalities are important drivers of the national economy. When they succeed in attracting investment, the benefits translate into good middle class jobs and a high quality of life for Canadians. The ICCI program helps connect our cities and towns with global investors.”
- Andrew Leslie, Parliamentary Secretary to the Minister of Foreign Affairs (Canada-U.S. Relations)
Quick Facts
-
One in eight jobs in Canada is linked to foreign investment.
-
Foreign-owned multinational enterprises (MNEs) employed 1.9 million Canadians in 2014, accounting for 12 percent of all jobs and 30 percent of all manufacturing jobs in Canada.
-
MNEs account for almost half of Canada’s merchandise exports and are responsible for 38 percent of business expenditures in research and development.
-
Nearly two thirds of Canada’s working-age population has a post-secondary education, the highest proportion among members of the Organisation for Economic Co-operation and Development.
Related Products
Associated Links
Contacts
Media Relations Office
Global Affairs Canada
343-203-7700
media@international.gc.ca
Follow us on Twitter: @CanadaTrade
Like us on Facebook: Canada’s international trade - Global Affairs Canada