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April 17, 2014

Daryl Kramp, Member of Parliament for Prince Edward-Hastings is pleased to announce that Quinte Economic Development Commission will receive federal funding of $51,725. to help them attract job creating investments in our community.

“Investment is a key driver to create jobs and opportunities for hard-working Canadians.” said Daryl Kramp, M.P. “With one in 10 Canadian jobs linked to foreign investment, I understand that attracting new investment to our community creates prosperity for our families. Canadian talent, competitive costs, low taxes, strong banking sector and vibrant, safe communities is recognized as a winning formula by global investors and will help provide more high-value jobs and new innovation to Prince Edward-Hastings.”

Chair Ted Reid says these funds will be used in support of QEDC’s ongoing Foreign Direct Investment (FDI) plans. “FDI attraction is an incredibly competitive marketplace where the Bay of Quinte region is competing with communities on a global scale. The QEDC board and staff have developed strategies to ensure our regions competitiveness and I’m pleased that these plans are supported once again by the Federal Government through this funding. Our sincere thanks to MP’s Daryl Kramp and Rick Norlock for their continued support of the QEDC’s efforts.”

The Invest Canada-Community Initiatives (ICCI) program provides matching federal funds for communities to attract, retain and expand investment.

Foreign investors are feeling increasingly confident about Canada, evidenced by the fact that FDI inflows to Canada have increased for the fourth consecutive year. This was the highest amount of FDI coming into Canada since 2008.

Canada is the best country in the G-20 for business, according to both Forbes and Bloomberg.

The Economist Intelligence Unit says Canada is the best country among the G-7 to do business over the five year period 2014-2018. Canada is the easiest place in the G-7 to start a business, according to the World Bank. Foreign-owned companies account for as much as 45 percent of Canada’s merchandise exports.

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