Today $55,000 has been awarded to Guelph Economic Development by the Department of Foreign Affairs and International Trade Canada through the Invest Canada – Community Initiatives program.
The funding will be used to finalize and implement a formal business engagement program that is designed to proactively support business retention and expansion and create more checkpoints with Guelph’s corporate citizens, gauge overall trends and to address the specialized needs of business. A successful business engagement program helps government meet the long-term needs of business and creates a welcoming business climate to encourage and support growth.
“These dollars go a long way in helping ensure that these programs meet their objectives,” says Peter Cartwright, General Manager of Economic Development. “The long-term retention of local business is important to the City of Guelph, programs like Invest Canada – Community Initiatives allow us to accelerate implementation schedules, form stronger partnerships and provide results to our community faster.”
The funding will also be used to develop a foreign direct investment strategy and action plan to increase Guelph’s marketing presence in international markets with the objective to increase lead generation and to convert these leads into new business investment opportunities for Guelph. The plan is part of a larger city building effort to market and sell available land in the Hanlon Creek Business Park and the future Guelph Innovation District.
“In today’s global economy, foreign direct investment is a key driver of economic growth and prosperity,” said the Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway. “Through Foreign Affairs and International Trade’s Invest Canada – Community Initiatives, the Government of Canada is pleased to help fund activities by Guelph Economic Development to attract investment. In these globally challenging times, we will continue to support initiatives that help bring jobs and prosperity to the people of Guelph.”