OTTAWA, May 17, 2012 /CNW/ - Canada's major cities should have a seat at
the table in shaping national policies and strategies to attract inward
foreign direct investment (FDI), according to a Conference Board of
Canada report released today.
Eleven large cities - Halifax, Québec City, Montréal, Ottawa, Toronto,
Kitchener-Waterloo-Cambridge, Winnipeg, Saskatoon, Calgary, Edmonton,
and Vancouver - make up the newly-incorporated Consider Canada City
Alliance Inc. Collectively these cities have a greater share of
national inward FDI stock than their share of national GDP.
"The members of the Consider Canada City Alliance are punching above
their economic weight in terms of attracting FDI," said Alan Arcand,
Principal Economist. "Given their importance in attracting foreign
investment, cities have a role to play, along with their national and
provincial counterparts, when policies to attract FDI are being
This report, The Role of Canada's Major Cities in Attracting Foreign Direct
Investment (http://www.conferenceboard.ca/e-library/abstract.aspx?did=4817), focuses on the importance of developing an FDI attraction strategy
involving city-level economic development efforts, along with
provincial and national investment promotion activities.
Although most analysis of FDI is conducted at the national level, the
lion's share of global investment activity flows through the world's
cities. Canada is no exception - a large share of its inward FDI flows
through its cities, which implies that a proactive and coordinated
effort aimed at attracting FDI could lead to significant benefits, not
only for the cities themselves, but for the country as a whole.
At the regional level, several conditions have an impact on the
attractiveness of a city for FDI: a highly educated workforce (skills),
a high level of spending on R&D (innovation), penetration of new
technologies, strong regional clusters (industry specialization),
high-quality infrastructure (access), immigration (skills) and a
well-functioning investment promotion agency.
The Conference Board's analysis indicates that for at least four of
these regional policy factors—education, innovation, information and
communications technology penetration, and immigration—the members of
the Consider Canada City Alliance outperforms the rest of Canada.
This report was commissioned by the Consider Canada City Alliance Inc.,
a united group of large Canadian cities that make up more than 50 per
cent of Canada's population and economic activity. The Conference Board
of Canada was asked to study the role cities play in attracting inward
The report is publicly available at www.e-library.ca or through the website of the Conference Board's International Trade and
Investment Centre (ITIC) (http://www.conferenceboard.ca/ITIC/default.aspx). Made up of organizations representing both the public and private
sector, ITIC helps Canadian leaders better understand what global
economic dynamics—such as global and regional supply chains, barriers
to trade, U.S. policies, or tighter border security—could mean for
public policies and business strategies.
Link to publication: http://www.conferenceboard.ca/e-library/abstract.aspx?did=4817
SOURCE CONFERENCE BOARD OF CANADA
For further information:
Brent Dowdall, Media Relations, Tel.: 613- 526-3090 ext. 448