BOLTON, ON – The Government of Canada will provide $1,893,570 in funding to support some 42 Ontario communities in their efforts to attract foreign investment. The Community Investment Support Program (CISP) announcement was made on behalf of Minister of International Trade and Minister for the Pacific Gateway and the Vancouver-Whistler Olympics, David Emerson, by David Tilson, Member of Parliament for Dufferin-Caledon, home to one of the projects to receive funding.

“The Town of Caledon is actively working to attract, retain, and expand foreign investment,” said Mr. Tilson, adding that the specific projects in question will not only encourage investment, but also enhance the community’s capacity to deal effectively with investors.  “Such efforts offer tremendous benefits–bringing new technologies and capital flows to the companies in our community and creating jobs and wealth for area citizens.” 

The Town of Caledon has been approved to receive $37,500 to fund one staff member to attend EDAC training at the University of Waterloo and will produce an economic base analysis. The analysis will focus on trends related to the Town’s competitive advantages, particularly with regard to business development and growth. The analysis will also provide an enhanced understanding of Caledon’s economic character. Finally, it will establish a basis for sectoral/industrial marketing strategies aimed at attracting, retaining, and expanding Foreign Direct Investment. CISP support is also being used to support economic development roundtables that will identify opportunities and development sectoral profiles.
   
Across Canada, a total of 138 projects will receive funding totalling $4.8 million through the Community Investment Support Program (CISP).  CISP helps communities to develop business cases, plan and execute promotional initiatives, build capacity, and gain experience in investment attraction. Under the 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 the level of public-private sector partnership.
   
Full project descriptions for 2006-2007 can be found at www.itcan.gc.ca/menu-en.asp
   
   
For further information, media representatives may contact:
   
Jennifer Chiu
Office of the Minister of International Trade and Minister for the Pacific Gateway and the Vancouver-Whistler Olympics
(613) 992-7332
   
Media Relations Office
International Trade
(613) 995-1874
www.international.gc.ca