Guelph, Ont., August 3, 2016 – The City’s economic development division has been successful in their application for $35,000 from Global Affairs Canada, through the Invest Canada – Community Initiatives (ICCI) program. The funding will support foreign direct investment in Guelph through the completion of a municipal comparator study.
“Attracting foreign investment is about creating jobs here in Canada,” said the Honourable Chrystia Freeland, Minister of International Trade. “We are working with all orders of government to promote investment in Canada and in communities such as Guelph. This 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.”
The study will be conducted by Mellor Murray Consulting and will consist of Guelph’s economic and cost competitiveness in comparison to other communities. Components of the study will examine business, operational and development costs, as well as programs, policies and incentives used to attract investment and retain and expand business.
“Guelph competes globally to attract investment,” says Barbara Maly, manager of Economic Development, City of Guelph. ”This study will assess Guelph’s competitive position in relation to other North American jurisdictions. It will identify effective and creative programs and policies, legislatively permitted in the province, to help drive foreign investment and retain and expand business in Guelph.”
“The Chamber is pleased to be a contributing partner on this important project,” says Kithio Mwanzia, President and CEO, Guelph Chamber of Commerce. “Having a better understanding of what Guelph’s competitive strengths are means more effective program development to attract and retain global investment.”
This study will assess Guelph’s attractiveness from the perspective of businesses and investors and the factors and criteria that they would use when making investment location decisions. Creating capacity for foreign direct investment is part of Guelph’s larger economic development strategic plan Prosperity 2020 and supports Guelph’s Foreign Direct Investment Attraction and Retention Strategy and Action Plan.
Visit Global Affairs Canada’s ICCI to learn more about this funding program.
For more information
Barbara Maly, Manager
519-822-1260 extension 2822