Toronto, ON- July 18, 2022- Despite the challenges of the global pandemic, Canada’s major cities fared quite well in the area of foreign direct investment (FDI) in 2021 in a new study carried out by the Consider Canada City Alliance (CCCA).
Global investment fosters local job creation, which ensures economic growth and prosperity in our communities. Over the course of 2021, the 14 member cities of the CCCA helped facilitate 28,300 new jobs - a leap from 24,500 in 2020. The total investment value attracted across the CCCA membership reached $8.3 billion - a notable $2.1 billion spike from the previous year. Finally, the number of deals closed by its members shows a steady number of new projects - rising from 244 to 279 in 2021- made possible through the support of the local municipal and provincial governments along with Federal partners at Global Affairs Canada and Invest in Canada.
“Although we continue to help our members navigate the pandemic and work with our federal partners to continue promoting Canada internationally and facilitate global investment, these results clearly demonstrate that global investment is starting to recover in Canada,” said Niloo Boroun, Executive Director of the CCCA. “This good news is also a testament to the robustness of Canadian cities' value proposition in attracting and retaining global investment and talent.”
An increase in FDI in Canada is vital in two key ways. One, it positions Canada as a safe location for international investment and a country of great investor confidence. Two, an increase in FDI raises the potential for further positive developments and meaningful impacts in our cities.
Consider Canada City Alliance is composed of 14 city members that help global companies determine the best strategies for business expansion and continually improve Canada’s ability to attract new investment and trade opportunities. Our members from Surrey, Vancouver, Edmonton, Calgary, Winnipeg, Hamilton, London, Waterloo, Niagara, Toronto Region, Ottawa, Montréal, Québec City, and Halifax represent the diversity as well as the wealth in resources & expertise of Canada from coast to coast.