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<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 14pt"><span style="font-weight: bold">May 24, 2006 <i>(2 p.m. EDT)</i><br>
No. 55</span></span></span></p>
<br>
<p style="text-align: center"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 14pt"><span style="font-weight: bold">GOVERNMENT OF CANADA ANNOUNCES $4.8 MILLION IN FUNDING </span></span></span></p>
<p style="text-align: center"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 14pt"><span style="font-weight: bold">TO SUPPORT 138 CANADIAN COMMUNITIES IN EFFORTS TO </span></span></span></p>
<p style="text-align: center"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 14pt"><span style="font-weight: bold">ATTRACT FOREIGN INVESTMENT</span></span></span></p>
<br>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt">Helena Guergis, Parliamentary Secretary to the Minister of International Trade, today
announced that the Government of Canada will contribute $4.8 million to support 138
communities across Canada in their efforts to attract foreign direct investment.</span></span></p>
<br>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt">“In today’s global economy, foreign investment is a key driver of economic growth and
prosperity for communities around the world,” said Parliamentary Secretary Guergis.
“This federal support will help Canadian communities to favourably position themselves
with global investors so that they can successfully attract, retain and expand foreign
direct investment.” Since its inception in 1998, the Community Investment Support
Program (CISP) funding has been credited by municipalities with helping to attract
some $350 million in foreign investment and creating 2,000 jobs, Ms. Guergis added.</span></span></p>
<br>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt">For example, the City of Welland, Ontario, used an $18,000 CISP contribution to
support the development of a competitive analysis report and marketing strategy that
identified the city’s potential to attract investment from the information technology
industry. The community used the report as a marketing tool to convince U.S.-based
Convergys to open a call centre in Welland. This investment was valued at $7.5 million
and created 1,100 jobs. </span></span></p>
<br>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt">Under the CISP program, communities can apply for up to 50 percent in matching funds
to assist in the development and execution of local investment attraction strategies.
Applications are evaluated according to their quality and innovation, anticipated
economic benefits, and level of public-private sector partnership. For 2006-2007,
approved funding amounts range from $1,000 to $175,000.</span></span></p>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span> </span></span></span></p>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt">The Government of Canada will announce specific funding allocations and post full
project descriptions in the coming days at </span></span><a href="https://bac-lac.wayback.archive-it.org/web/20070221012942/http://www.itcan.gc.ca/menu-en.asp"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #0000ff"><span style="text-decoration: underline">http://www.itcan.gc.ca/menu-en.asp</span></span></span></span></a><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">.</span></span></span></p>
<br>
<p style="text-align: center"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">- 30 -</span></span></span></p>
<br>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">A backgrounder describing the program is attached. </span></span></span></p>
<br>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">For further information, media representatives may contact:</span></span></span></p>
<br>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">Jennifer Chiu<br>
Press Secretary<br>
Office of the Minister of International Trade<br>
(613) 992-7332</span></span></span></p>
<br>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">Media Relations Office<br>
International Trade Canada<br>
(613) 995-1874<br>
</span></span></span><a href="https://bac-lac.wayback.archive-it.org/web/20070221012942/http://www.international.gc.ca/"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #0000ff"><span style="text-decoration: underline">http://www.international.gc.ca</span></span></span></span></a><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000"></span></span></span></p>
<br>
<p style="text-align: center"><span style="font-family: 'Arial', sans-serif"><span style="color: #000000"><span style="font-weight: bold"><span style="font-size: 14pt">Backgrounder</span></span></span></span></p>
<br>
<p style="text-align: center"><span style="font-family: 'Arial', sans-serif"><span style="color: #000000"><span style="font-weight: bold"><span style="font-size: 14pt">COMMUNITY INVESTMENT SUPPORT PROGRAM</span></span></span></span></p>
<br>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">The Community Investment Support Program (CISP) financially supports the efforts of
regions and municipalities to attract, retain and expand foreign direct investment. </span></span></span></p>
<br>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">CISP provides up to 50 percent of an applicant’s eligible project costs, to a maximum of
$300,000 per year. Eligible recipients include not-for-profit municipal economic
development agencies, and cities and towns across the country. </span></span></span></p>
<br>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">The program supports communities in two ways. CISP funding for communities in the
early stages of investment attraction readiness is often devoted to research, training,
and developing a community profile. For communities already engaged in investment
promotion, CISP funding can help further efforts to identify targets, develop contacts,
refine investment strategies, and develop and upgrade websites.</span></span></span></p>
<br>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">Regional adjudication committees—chaired by a senior Trade Commissioner and
comprising representatives from the public and private sectors, as well as
provincial/territorial officials—evaluate all applications. On average, the amount of
funding approved in each province and territory is proportional to the
provincial/territorial population (based on Statistics Canada 2001 census data).</span></span></span></p>
<br>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">A CISP Program Guide is available at the following web address:
</span></span></span><a href="https://bac-lac.wayback.archive-it.org/web/20070221012942/http://www.investincanada.gc.ca/CMFiles/Program%20Overview%20(Sept%2013,%202005).doc "><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #0000ff"><span style="text-decoration: underline">http://www.investincanada.gc.ca/CMFiles/Program%20Overview%20(Sept%2013,%202005).doc</span></span></span></span></a><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">.<span> </span></span></span></span></p>
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