Government's Invest Canada - Community Initiatives (ICCI) Spurs…

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Foreign Investment and Economic Growth in the Greater Toronto Area­­­­­­­­­­­­­

By A Correspondent

The Greater Toronto Marketing Alliance (GTMA) welcomed International Trade Minister Ed Fast's announcement and the leadership of the Federal Government in continuing its support of the ICCI program.

Over the past number of years, the Federal Government's ICCI program has built an economic infrastructure across the GTA and southwestern Ontario that has been pillared by extraordinary partnerships among regional communities and the private sector; promoting and reading their respective regions for new investment. It has allowed local communities, regions and associations to meet the competition of attracting new international investment.

ICCI has also afforded the Greater Toronto Marketing Alliance the opportunity for partnerships with all levels of governments, focused on a common effort to enhance economic renewal and investment attraction. In the Greater Toronto Area, this is best illustrated in just a sampling of the GTMA's collaboration with regions and governments across Ontario, including the Ontario Technology Corridor and the Ontario Food Cluster.

"The Federal government's Invest Canada - Community Initiatives, has continued to act as a catalyst for building an economic infrastructure across Canada and the Greater Toronto Area that has resulted in extraordinary partnerships among regional communities and the private sector. In order for Canada to succeed globally, we need to have strong regions that are investment ready and well positioned for global competitiveness." said John Tory, Co-Chair (Private), GTMA Board of Directors.

For the Greater Toronto Marketing Alliance, it has ensured our effective presence in foreign markets such as Italy, Brazil, Germany, France and across the U.S., as well as, new markets that we are embarking on, such as Turkey and Korea.

The benefits of ICCI have come to fruition for our region, our province and Canada. The successes are well documented and we continue to attract new foreign investment to the GTA.

"There is no better example than here in the Greater Toronto Area of the enormous benefits that ICCI has encouraged through its financial support of the GTMA's international investment attraction programs - creating over 5,000 direct jobs, $5 million in annual property taxes and over $400 million in annual GDP contributions to the GTA's economy annually." added Mayor David Ryan, City of Pickering, Co-Chair (Public), GTMA Board of Directors.

The Federal government is a valued partner of the GTMA and, in our mandate to attracting new foreign investment, creating jobs and economic prosperity for our region. We look forward to our continued collaboration in the coming year in meeting our mutual objectives.

JULY 2018

Vol. 12 - No. 12


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