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www.wavteq.com
The challenge: How to promote and facilitate FDI at the local level?
- It is at the local level that land, property,
skills, infrastructure, clusters and often incentives will be assessed by investors
- The local level is the level that supply-chain
linkages, cluster development, and skills development takes place, as demonstrated by Michael Porter
- Most countries, except the smallest
countries, have diverse economic regions with strengths in different sectors, with specific investment opportunities for investors, and often with different economic development objectives reflecting the economic and social situation
- f each region
- It is challenging, if not impossible in large
countries, for a national IPA to have comprehensive and constantly updated information on every region and investment opportunity across the country WHAT’S NEW IN INVESTMENT PROMOTION
Global Affairs Canada – national-local coordination
The solution: The Invest Canada-Community Initiatives (ICCI) program
- Provides support to Canadian communities seeking to improve
their capacity to attract, retain and expand FDI
- The key objectives are job creation, innovation, and exports.
- The program supports non-profit and public-private
partnerships at the local community level
- The initiatives supported by the program must focus on
supporting the attraction, retention, and expansion of FDI through specific types of activities
- Non-repayable contributions range from $3,000 to $300,000
- ICCI provides reimbursement of up to 50 percent of eligible
expenses (the local IPA needs to co-fund the project)
- Since 2006, the program has supported over 416 municipalities
and community organizations through 1253 projects valued at $42.2 million. In 2016, 87 organizations across Canada are receiving more than $3.7 million in funding from the Government of Canada
- The program prioritizes initiatives that focus on seven key
target sectors and 23 target countries, to coordinate national and local investment promotion strategy
http://tradecommissioner.gc.ca/funding-financement/icci-icic/index.aspx?lang=eng
Source: WAVTEQ
