MP Joe Preston, on behalf of the Honourable Ed Fast, Minister of International Trade, today announced that the County of Elgin will receive $22,500 from the Government of Canada to attract, retain and expand foreign direct investment.
The funding for Elgin-Middlesex-London comes from the Invest Canada – Community Initiatives (ICCI) program. It helps communities attract, retain and expand foreign direct investment (FDI).
“Our government is focused on what matters to Canadians: jobs, growth and long-term prosperity, and attracting foreign investment is key to these efforts,” added Minister Fast. “We are proud to be working with local communities across Canada to help attract the investment that brings new opportunities and new sources of prosperity to workers and their families right here in Elgin.”
In 2012, the Government of Canada helped attract 147 new foreign businesses and expansions projects worth over $2.7 billion to the Canadian economy, creating jobs, growth and prosperity for Canadians.
ICCI funds up to 50 percent of community-based activities aimed at developing and executing local investment-attraction strategies. Applications are evaluated based on the proposed strategy, project components, performance measures, work plan and the level of public-private-sector partnership. Eligible communities can apply for funding once per year following the guidelines found at Invest Canada – Community Initiatives (ICCI).