Western Economic Diversification Canada

Western Economic Diversification Canada

November 10, 2016 11:46 ET

New investment attraction program targets business growth for Edmonton

EDMONTON, ALBERTA--(Marketwired - Nov. 10, 2016) - Western Economic Diversification Canada

The Governments of Canada and Alberta will invest a combined $3 million in Edmonton Economic Development Corporation (EEDC) to develop an international investment attraction program to encourage companies to locate and grow their businesses in the Edmonton region.

The Honourable Amarjeet Sohi, Minister of Infrastructure and Communities and Member of Parliament for Edmonton Mill Woods, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Western Economic Diversification Canada, with the Honourable Deron Bilous, Minister of Alberta Economic Development and Trade, made the announcement today at the new Enbridge Centre building in Edmonton.

EEDC's attraction program will help diversify the western Canadian economy by targeting companies that build on the region's strengths in health and life sciences, advanced logistics and manufacturing. It will also focus on digital information, communication technology, and food and agri-industrial production.

The investment will help accelerate growth in these sectors through new foreign investments and increased trade opportunities.

Quick Facts

  • The Government of Canada will invest $1 million through Western Economic Diversification Canada's Western Diversification Program (WDP), while the Government of Alberta will contribute $2 million towards this initiative.
  • Over the next five years the Government of Canada will allocate $218 million to create a new federal body, the Invest in Canada Hub, to increase the number of trade commissioners focused on investment attraction in strategic markets.

Quotes

"Around the world, leading companies are looking for stable places to invest and grow their businesses. Today's announcement and partnership with the Government of Alberta and Edmonton Economic Development Corporation will help to strengthen trade and investment opportunities in Edmonton."

- The Honourable Amarjeet Sohi, Minister of Infrastructure and Communities and Member of Parliament for Edmonton Mill Woods

"Alberta's per capita investment is expected to double the Canadian average this year, investment that helps create new jobs and diversify our economy. Together we want to show even more national and international investors that with our young, highly skilled workforce, world-class infrastructure to get our products to market and lowest overall tax in the country, Alberta is a great place to do business."

- The Honourable Deron Bilous, Minister of Alberta Economic Development and Trade

"The major investment attraction strategy developed by our Trade and Investment division comes at an important time as we move our economy forward. We look forward to working with Western Economic Diversification Canada, the Government of Alberta, our regional partners and other cities in the province on a co-ordinated effort to attract businesses and jobs to our Metro Edmonton region."

- Brad Ferguson, President and CEO, Edmonton Economic Development Corporation (EEDC)

Additional Links

Western Economic Diversification Canada

Alberta Economic Development and Trade

Edmonton Economic Development Corporation

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