Consider Canada City Alliance Identifies New Path Forward for Canada’s Foreign Direct Investment Strategy
Direct consultation with Federal Minister Navdeep Bains identifies greater role for Canada’s leading cities/metro regions
The Consider Canada City Alliance (CCCA) has concluded its annual Fall meeting and announced a set of recommendations to increase Foreign Direct Investment (FDI) activities for Canada’s leading cities/metro regions. Amongst the ideas shared with Federal Minister Navdeep Bains, the CCCA is advocating for a consistent and predictable funding formula for regional economic development agencies, a critical focus on the race for global talent as part of Federal FDI efforts and the necessity of including Canada’s leading cities as part of the nation’s economic recovery through strategic FDI efforts.
“Clearly, FDI investments land in cities and surrounding metropolitan regions,” said CCCA Board Chair Malcolm Bruce. “Over these past two days, the CCCA consistently advocated that Canada’s economic recovery requires a strong FDI focus on attracting new businesses and expanding existing ones and that the CCCA is the organization to do this in partnership with the
In addition to meeting with Minister Bains at their Fall meeting, the CCCA also had extensive meetings with senior management from Invest in Canada and Global Affairs Canada that will lay the groundwork for joint FDI efforts in the remaining months of 2020 as well as a template for joint efforts in 2021. Leading this is the newly elected CCCA Executive Committee consisting of Chair Malcolm Bruce (CEO, Edmonton Global), Vice-Chair Dayna Spiring (President and CEO, Economic Development Winnipeg), Stephen Lund (CEO, Toronto Global) and Jens-Michael Schaal (Vice-President, Invest Ottawa) who will assist Niloo Boroun, CCCA Executive Director, in working with Federal and Provincial Governments to advance CCCA FDI goals and priorities on a global scale.
“The ideas shared with Minister Bains are of utmost importance to Canada’s regional municipalities and we are greatly encouraged with the overwhelmingly positive response from the Minister,” said Ms. Boroun. “The CCCA is fully engaged with our partners at Invest in Canada and Global Affairs Canada in pivoting Foreign Direct Investment to accelerate job growth and recovery for Canadians from coast to coast. We believe FDI will be a key economic driver over the next year which warrants a leading role for the CCCA and its members.”
The Consider Canada City Alliance (CCCA) unites 12 of Canada’s largest municipal regions – Vancouver, Edmonton, Calgary, Winnipeg, London, Hamilton, Waterloo, Toronto, Ottawa, Montreal, Quebec City and Halifax – build a sustainable and globally competitive national economy built upon the collective strength of each member’s ecosystem.
As an established network of Investment Promotion Agencies from coast to coast, the CCCA works with national and international networks of partners to make Canada the preferred location for foreign investment and trade.