OTTAWA, ON--(Marketwired - Nov 2, 2016) - Representing 63.4% national GDP and 82.5% of GDP growth, the Consider Canada City Alliance welcomes the opportunity to help shape a new Federal Invest in Canada Hub focused on international investment attraction. Yesterday's Fall Economic Statement described "a new, dedicated high-impact sales force to promote Canada, and to work with global companies to forge global partnerships and invite them to expand into Canada."
According to the Fall Economic Statement, under the leadership of a new Chief Executive Officer, the Invest in Canada Hub will be established by the end of 2017, and will work globally, in partnership with Global Affairs Canada, the Canadian Trade Commissioner Service, and Innovation, Science and Economic Development Canada, as well as with provincial and municipal investment attraction offices.
"We see many new doors being opened with this focused Federal initiative, and want to emphasize that international investment deals always close at the city level. Companies ultimately invest in cities," stated Carl Viel, Chair of the Consider Canada City Alliance and President of Québec International. "Our 12 economically powerful city members know first-hand the tremendous opportunity that Canada offers to companies considering foreign expansion. We have intimate knowledge of talent, locations, merger and acquisition synergies, research institutions and are the go-to people for companies making new investments in our country."
"Global commerce is changing and so are the factors driving foreign investment," said Michael Darch, President of the Consider Canada City Alliance. "Cities play an increasingly critical role in the health of national economies. We look forward to working with our Federal partners over the next year to help define an Invest in Canada Hub that responds to the changing world economy, recognizes and builds upon the strengths of the partners selling Canada as an investment location and advances our global leadership position for economic growth and prosperity."
Working together since 2007, the 12 large cities of the Consider Canada City Alliance have recently identified three drivers to increase Foreign Direct Investment in Canada:
1. Recognition that cities play an increasingly critical role in national economic prosperity in the new global economy;
2. Coordination of investment policy and activity at the federal level be centralized under the Minister of International Trade, and
3. Investment attraction in high performing, small market economies like Canada is an investment in prosperity, not a cost. As front line workers, the members of the Consider Canada City Alliance need the resources to do their job and ensure that Canada achieves its full potential.
About the Consider Canada City Alliance
The twelve members of Consider Canada City Alliance (CCCA) include the city regions of Halifax, Quebec City, Montreal, Ottawa, Toronto, Waterloo, London, Winnipeg, Saskatoon, Calgary, Edmonton and Vancouver. The economic zones of the members of the CCCA now represent 57.3% of Canada's population, produce 63.4% of its GDP and accounted for 82.5% of Canada's GDP growth in the five years ending last quarter. As a united front, the Consider Canada City Alliance helps international companies determine the best strategies for business expansion and continually improve Canada's ability to attract new investment and trade opportunities. For more information on the Consider Canada City Alliance, please visit www.considercanada.com.