NEWS RELEASES

June 1, 2001 (9:20 a.m. EDT)

GOVERNMENT OF CANADA AND CITY OF OTTAWA

PARTNER TO ATTRACT INVESTMENT

International Trade Minister Pierre Pettigrew and Industry Minister Brian Tobin today announced a contribution of $224 500 from the Government of Canada to brand Ottawa as a prime location for new foreign investment.

This contribution will go toward the Maintain the Momentum project of the recently merged Ottawa Economic Development Corporation and the Ottawa Centre for Research and Innovation (OCRI). The City of Ottawa, the Province of Ontario and several private sector organizations will also be major contributors to this $1.9 million initiative.

"Foreign investment brings new technologies, ideas and jobs to Canadian communities," said Minister Pettigrew. "Our support will help Ottawa more actively promote its investment advantages and strengthen its position as a global technology centre."

"A highly skilled workforce, excellent business climate and renowned technology clusters make the Ottawa area a premier investment location," said Minister Tobin. "The Government of Canada is proud to be part of partnerships that have direct positive impacts on Canadian communities."

The funding comes from the Program for Export Market Development - Investment (PEMD-I). A key objective of the program is to help communities become investment ready and attract potential foreign investors. As with the Team Canada approach, the PEMD-I program is built on co-operation between different levels of government and local businesses. PEMD-I is jointly administered by the Department of Foreign Affairs and International Trade, Industry Canada and Investment Partnerships Canada.

The Maintain the Momentum project is designed to promote Ottawa as a global technology centre. Ottawa Mayor Bob Chiarelli stated that, "the Government of Canada's assistance will help boost awareness of Ottawa's technology and investment advantages in key investment markets abroad, particularly in the U.S."

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For further information, media representatives may contact:

Sébastien Théberge

Office of the Minister for International Trade

(613) 992-7332

Media Relations Office

Department of Foreign Affairs and International Trade

(613) 995-1874

Heidi Bonnell

Director of Communications

Office of the Minister of Industry

(613) 995-9001

Dennis Gibson

Investment Partnerships Canada

(613) 941-3555

Michael Darch

OCRI

(613) 236-3500 ext. 236

This document is also available on the Department of Foreign Affairs and International Trade's Internet site: http://www.dfait-maeci.gc.ca