Government promoting investment in our communities

July 19, 2016 - Vancouver, British Columbia - Global Affairs Canada

The Government of Canada is helping communities from across the country attract job-creating investment so they can continue to grow and prosper. On behalf of the Honourable Chrystia Freeland, Minister of International Trade, David Lametti, Parliamentary Secretary to the Minister, today in Vancouver announced funding of $3,783,882 to 87 municipalities and regional organizations across Canada.

This funding comes from the Invest Canada - Community Initiatives (ICCI) program, which helps communities attract, retain and expand foreign direct investment. New investments mean new offices and factories being built here at home, creating jobs for Canadians.

ICCI funding helps Canadian communities reach out to global companies considering where next to invest. This funding helps our communities diversify and compete on a global scale. Today’s announcement will give 87 communities new opportunities to promote themselves and the Canadian brand abroad.

Quotes

“Attracting foreign investment is about creating jobs here in Canada. We are working with all orders of government to promote investment in Canada, which will help us diversify and ensure long-term growth at the community level. When new investment dollars come to Canada, our economy grows and more job opportunities are available to the middle class and everyone working hard to join it.”
- Hon. Chrystia Freeland, P.C., M.P., Minister of International Trade

“The Government of Canada encourages communities large and small, from coast to coast to coast, to get their messages out about why the world should invest here. Canada has strong economic fundamentals and a skilled, innovative workforce, which makes it an excellent destination for new investment.”
- David Lametti, Parliamentary Secretary to the Minister of International Trade

“Cities are increasingly the engines for economic growth in national economies. This ICCI funding will help our high-performing communities successfully compete for foreign investment in a changing, complex global economy.”
- Michael Darch, President, Consider Canada City Alliance

“Vancouver’s thriving business ecosystem—built on knowledge-based industries such as technology, digital entertainment and the green economy—attracts close to a billion dollars in venture capital and foreign direct investment annually. We applaud ongoing federal initiatives such as the ICCI, which are crucial in enabling the Vancouver Economic Commission’s efforts to position the city as an ideal location for investments in the innovative, creative and sustainable sectors.”
- Ian G. McKay, CEO of the Vancouver Economic Commission

Quick Facts

  • Twelve regional organizations in British Columbia will receive ICCI funding in 2016.
  • Under the ICCI, the Government of Canada’s contributions can range from $3,000 to $300,000 per organization. The program provides matching funds of up to 50 percent of eligible expenses.
  • 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.
  • Eligible communities can apply for funding once a year.

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