NEWS RELEASES
PARTNERSHIP TO ATTRACT FOREIGN INVESTMENT
December 1, 2003 (11:55 EST) No. 183
PARTNERSHIP TO ATTRACT FOREIGN INVESTMENT
International Trade Minister Pierre Pettigrew and Industry Minister Allan Rock are pleased to announce that the
Government of Canada is contributing almost $100,000 toward a joint effort by the regions of Ottawa, Toronto and
Kitchener-Waterloo to promote their shared Information and Communications Technology (ICT) strengths.
Through the support of the Program for Export Market Development - Investment (PEMD-I), the economic development
agencies for the three centres will showcase the strengths of Ontario's ICT corridor during a trade mission scheduled to
coincide with the Wi-Fi (wireless fidelity) Planet Conference in San Jose, California, from December 2 to 4. A second trade
mission is planned for February 2004.
"Foreign investment exercises tremendous leverage on the economy of a region. It creates jobs and introduces new
technologies, in addition to sparking capital flow to companies in related sectors," said Minister Pettigrew. "Through
PEMD-I, the Government of Canada is working hand in hand with municipalities to attract foreign investment and
contribute to the quality of life of their communities."
"Foreign investment is a critical element in fostering an innovative and knowledge-based economy," said Minister Rock.
"Since its creation, PEMD-I has helped communities across the country compete globally to secure investment and talent in
key sectors that are driving Canada's economic growth."
The project also received support from the province of Ontario. Ontario Premier Dalton McGuinty said, "This partnership
illustrates how the three levels of government are teaming up with industry leaders to market our talent and investment
opportunities."
PEMD-I was set up in 1998 to help Canadian communities better prepare themselves to receive investments and attract
foreign investors. Funded by the Department of Foreign Affairs and International Trade and managed by Investment
Partnerships Canada, the Program supports non-profit organizations and public-private partnerships operating at a regional
or municipal level. It funds up to 50 percent of costs tied to eligible activities aimed at attracting foreign investment.
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A backgrounder attached.
For further information, media representatives may contact:
Sébastien Théberge
Director of Communications
Office of the Minister for International Trade
(613) 992-7332
sebastien.theberge@dfait-maeci.gc.ca
Media Relations Office
Department of Foreign Affairs and International Trade
(613) 995-1874
Mylène Dupéré
Press Secretary
Office of the Minister of Industry
(613) 995-9001
Marcel Gaumond
Investment Partnerships Canada
(613) 941-9268
This document is also available on the Department of Foreign Affairs and International Trade's Internet site:
http://www.dfait-maeci.gc.ca
Backgrounder
PROGRAM FOR EXPORT MARKET DEVELOPMENT - INVESTMENT (PEMD-I)
Set up in January 1998, PEMD-I is a program created by the Government of Canada to help Canadian municipalities
attract, retain and expand foreign direct investment, thereby increasing the number of jobs in Canada.
To help Canadian municipalities undertake activities aimed at attracting foreign investment, PEMD-I funds research
activities enabling them to identify their strengths, describe their profile, and identify activity sectors and geographic
markets. The Program also supports municipalities in the development of advanced, far-reaching strategies to attract
investment, including participation in trade fairs and the hosting of foreign delegations.
PEMD-I is managed by Investment Partnerships Canada (IPC), the Government of Canada's focal point for investment
services. IPC reports jointly to the Minister for International Trade and the Minister of Industry.
PEMD-I consists of two tiers:
Tier 1
PEMD-I projects valued to a maximum of $50,000:
• are aimed at helping municipalities become investment-ready;
• are aimed at supporting the implementation of low-cost activities such as training, database development, studies, the
development of plans and the implementation of investment attraction initiatives;
• operate on a cost-shared basis--applicants can receive federal support of up to 50 percent of costs tied to eligible
activities aimed at attracting investment; and
• are submitted to regional approval committees and international trade centres at the national level.
Tier 2
PEMD-I projects valued between $50,000 and $300,000:
• are aimed at attracting foreign investment to Canada;
• complement municipalities' existing economic development programs;
• operate on a cost-shared basis--applicants can receive federal support of up to 50 percent of costs tied to eligible
activities aimed at attracting investment;
• are put forth by large communities and regional coalitions; and
• are submitted to a national approval committee.
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