Federal government funding assists the Consider Canada City Alliance to attract more foreign investment into Canada

The Government of Canada’s Invest Canada – Community Initiatives (ICCI) program will contribute $1.4 million to the Consider Canada City Alliance and its 11 member cities

Ottawa, Ontario, September 20, 2013 – The 2013 round of funding from the Invest Canada – Community Initiatives (ICCI) program today confirmed $90,000 for the Consider Canada City Alliance Inc. while an additional $1.3 million will be distributed among the 11 member cities of the Alliance. The program is designed to help communities attract, retain and expand Foreign Direct Investment (FDI). ICCI supports non-profit and public-private partnerships at the local community level and the program is run by the Ministry of Foreign Affairs, Trade and Development Canada.

“In the hyper-competitive world of FDI this federal funding is crucial if we want to be able to tell and sell the world that Canada is a premiere destination for investment. This year’s ICCI funding is matched with funds from inside our communities to enable all-important city-to-city contact with high potential economies that leads to new investment in our cities,” said Michael Darch, President of the Consider Canada City Alliance.

The member cities of the Consider Canada City Alliance accounted for 72 per cent of Canada’s GDP growth and 90 per cent of the country’s job growth between 2007 and 2012. Also in 2012, Canada bumped Australia to become the lead country in the world for Chinese outward-bound direct investment. As of the end of 2012, Chinese firms invested US$43.8 billion in Canada. Alliance members work to continually improve Canada’s ability to attract new investment and trade opportunities. ICCI-funded initiatives this year include:

“Our government has an unwavering commitment to work with municipalities to attract and retain global investment because we know this helps create jobs, growth and prosperity in every region of the country,” said the Honourable Ed Fast, Minister of International Trade. “That’s why I’m pleased to announce funding today that will help ensure that investors from around the world continue to look to our communities as a destination of choice for new investment opportunities.”

In 2013 the Consider Canada City Alliance also expanded its online capability to communicate with potential foreign investors. The organization’s Web sites added Chinese language content to the existing French and English and there is an increased presence on social media including www.Weibo.com in China. The Web site addresses are www.ConsiderCanada.com and www.CanadaEnTête.com. The Chinese content can be accessed through either address.

The Conference Board of Canada concluded in a 2012 report that the members of the Consider Canada City Alliance are punching above their economic weight in terms of attracting Foreign Direct Investment. The members are – Toronto, Montréal, Vancouver, Ottawa, Calgary, Edmonton, Halifax, Québec City, Winnipeg, Waterloo Region and Saskatoon. And a United Nations report stated that in 2012 Canada was one of just four developed nations to see an increase in inward flows of investment money. The increase was 14 per cent while that same type of investment declined 35 per cent in the U.S. and 36 per cent in Europe.

About the Consider Canada City Alliance

As a united front, Canada’s large cities – Toronto, Montréal, Vancouver, Ottawa, Calgary, Edmonton, Halifax, Québec City, Winnipeg, Waterloo Region and Saskatoon – help international companies determine the best strategies for business expansion and continually improve Canada’s ability to attract new investment and trade opportunities. Started as an informal association of large Canadian cities in 2007 and formally incorporated in 2012, the 11 member cities of the Consider Canada City Alliance represent 54% of Canada’s population, 56% of Canada’s employment, 59% of its GDP, and between 2007 and 2012, 72% of GDP growth and 90% of jobs growth. For more information on the Consider Canada City Alliance, please go to www.considercanada.com or www.canadaentete.com. Both Web sites also contain Chinese-language information, as well as links to Twitter, Facebook and Weibo social media channels.