CALGARY, ALBERTA--(Marketwired - Sept. 27, 2016) - Western Economic Diversification Canada

Calgary Economic Development will receive a combined investment of $3 million from the Governments of Canada and Alberta to develop and implement an international investment attraction program to encourage companies to locate their branch offices or company headquarters to the Calgary region.

The initiative was announced today by the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Western Economic Diversification, and the Honourable Deron Bilous, Minister of Alberta Economic Development and Trade. It will allow Calgary Economic Development to employ additional marketing staff and foreign investment attraction subject matter experts, and create an international marketing and promotion strategy to showcase Calgary to potential tenant companies. This project will also support strategic research and intelligence gathering, as well as participation at targeted trade missions and international events.

Calgary Economic Development will focus on attracting companies from the following five sectors to build on local strengths, and assist in diversifying the western Canadian economy: transportation and logistics; agribusiness; renewable energy and clean technologies; financial services; and creative industries.

These investments will help attract international companies to locate offices in Calgary, which will help to stimulate diversification and accelerate growth in the region through new foreign investments and increased trade opportunities.

Quick Facts

• The Government of Canada will invest $1 million through Western Economic Diversification Canada's Western Diversification Program (WDP), while the Government of Alberta will contribute $2 million towards this initiative.
• Price Waterhouse Coopers has indicated that Calgary has one of the most ethnically diverse, highly educated and youngest workforces compared to ten global cities. The combined assets of strong talent and affordable downtown office space provide an opportunity for Calgary to take advantage of short-term opportunities and attract new business to the city.

Quotes

"Today's announcement is another step the Government of Canada is taking to strengthen investment from the international marketplace, and to build a stronger Canadian economy. We are pleased to partner with the Province of Alberta and Calgary Economic Development to strengthen trade and investment opportunities in Calgary."

• The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Western Economic Diversification

"For both domestic and international companies our message is simple: Alberta is the best place to do business. Calgary is home to the highest concentration of international headquarters in Canada. It also has the country's youngest, most skilled workforce. Working together to build on those strengths helps create and maintain jobs, while continuing to diversify our economy."

• The Honourable Deron Bilous, Minister of Alberta Economic Development and Trade

"When we go into international markets to recruit companies to Calgary there's an incredible advantage to having the backing of the governments of Alberta and Canada. Calgary has a strategy to leverage our strengths as a centre for corporate head offices in Canada and to be successful making our case around the world we need a strategic, coordinated and sustained effort with other levels of governments."

• Mary Moran, President and Chief Executive Officer of Calgary Economic Development

Additional Links

Western Economic Diversification Canada

Alberta Economic Development and Trade

Calgary Economic Development

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