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News Release

Region receives federal funding to assist with investment attraction

WHITBY, ON September 18, 2014

The Planning and Economic Development Department has received one-time funding of $80,500—from the Government of Canada’s Invest Canada-Community Initiatives (ICCI)—to support three activities related to the Economic Development Division’s Foreign Direct Investment Plan. ICCI aims to increase employment by helping communities attract, retain and expand foreign direct investment.

“One of the key components for international business investment, expansion and retention is having the ability to showcase partnerships, world-renowned facilities, post-secondary institutions, and other important factors,” said Kathy Weiss, Director of Economic Development and Tourism. “As a result of this funding, promotion will be enhanced on a global scale.”

With a specific focus on advanced manufacturing, agri-food and digital technology, this ICCI funding will be used to cover up to 50 per cent of project costs related to:

  • Lead generation: Activities that result in meetings with companies in strategic markets, particularly China, Germany and the United States. Funding is being used to hire consultants to generate leads within these strategic markets. Seven business missions will be undertaken, resulting in 126 one-to-one meetings with potential investors.
  • Translation of marketing/promotional material: Delivering information in the native language of each specific target market (specifically Mandarin and German), in order to align lead generation within these countries. 
  • Digital technology portal: The creation of a foreign and domestic attraction tool—for this emerging sector—that supports existing technology companies located in Durham Region. 

ICCI is one of three components of the federal Global Commerce Support Program, which focuses on key industry sectors in 22 markets within North America, South America, Europe and Asia. Recipients are chosen by a federal Adjudication Committee that evaluates each application based on specific assessment criteria.

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For more information, please contact Corporate Communications.