Brampton Kicks Off FDI Strategy to Spur More Foreign Investment
Earlier this year, Council approved to implement Brampton’s Foreign Direct Investment (FDI) strategy. The FDI strategy will attract new investment and jobs, fill gaps in the supply chain, diversify the tax base, and promote economic growth. The program also aims to raise the City’s global profile as a competitive place in which to do business, and initiate lead generation activities aimed at attracting FDI to the city.
“In order to accommodate expected population growth and develop the economic base to support it, it’s critical for Brampton to strengthen its profile within the global marketplace,” says Regional Councillor Gurpreet S. Dhillon, Chair, Economic Development. “A strong global presence will help us attract business, foreign direct investment and jobs.”
Brampton’s FDI efforts focus on the City’s key sectors: Health and Life Sciences, Advanced Manufacturing (including Food and Beverage Manufacturing), and Innovation and Technology.
Mayor Patrick Brown and Councillors launched Brampton’s 2019 Foreign Direct Investment (FDI) missions in September at the MedTech Conference in Boston (Health and Life Sciences sector). In October, Brampton’s FDI journey continued at the Anuga Food Fair in Cologne, Germany (Food and Beverage sector), and in November, continued at the Web Summit in Lisbon, Portugal (Innovation and Technology sector).
On all of the City’s FDI missions, City representatives met with dozens of global business leaders and carried out corporate call programs with businesses interested in expanding to Canada. Staff will follow up with each contact made, to begin the process of developing the trusted relationships needed to secure investment over the months and years to come.
The 2020 FDI workplan is currently in development and will be shared with Council in January.