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Canada's Major Cities Maintain Economic Stability Amidst Global Turbulence

Toronto, ON- May 10, 2023- 

Today, the Consider Canada City Alliance (CCCA), released its impact numbers for 2022, revealing that Canada’s major cities showed resilience in the face of a challenging global economic environment. In 2022, the 14 member cities of the CCCA played a crucial role in promoting global investment to create local jobs across Canada. Our data shows that CCCA members facilitated the creation of almost 22,000 new jobs, leading to economic growth in Canadian communities. The future of key industries also relies heavily on the presence of a diverse and highly skilled talent pool to drive innovation forward. 

The total investment value created by these investments reached $7.6 billion, distributed over a total of 258 deals which were closed in 2022 - a steady inflow of projects which shows that Canada maintains its reputation as a safe location for international investment and a country of great investor confidence. According to Kearney’s 2022 FDI Confidence Index, in a global context of high uncertainty, investors remain optimistic about their ability to thrive within the Canadian market over the medium to long time.  

The Executive Director of the CCCA, Niloo Boroun, stated, “We are dedicated to supporting our members in navigating global uncertainties and collaborating with our federal partners to promote Canada internationally and facilitate global investment. These results demonstrate progress towards recovery, and we anticipate even greater gains over the next few years as FDI projects reach further maturity.” Ms. Boroun also emphasized the resilience of Canadian cities and their ability to withstand the pressures of the global economic landscape by continuously attracting global companies in various innovative industries, including manufacturing, critical minerals, and life sciences. 

The FDI results of the CCCA members are a testament to the unwavering support and collaborative effort of local municipal and provincial governments, as well as federal partners at Global Affairs Canada and Invest in Canada, working closely with the CCCA. FDI is an essential driver of Canada's prosperous and sustainable economy, with the potential to generate further positive developments and meaningful impacts in our communities. 

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. 


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