SUMMERSIDE – The City of Summerside will soon receive $31,875 from the Government of Canada to attract, retain and expand foreign direct investment.
Fisheries and Oceans Minister Gail Shea made the announcement on behalf of the federal government recently.
“The City of Summerside plays an important role in identifying and attracting job-creating investment in our area,” said Shea. “That’s why I’m pleased to announce funding today that will help ensure that investors from around the world look to Summerside as a destination of choice for new investment opportunities. This will help to create jobs and prosperity for hard-working people right here in Egmont.”
The funding for the City of Summerside comes from the Invest Canada – Community Initiatives program. It helps communities attract, retain and expand foreign direct investment.
“Direct foreign investment is a significant opportunity for the City of Summerside,” said Basil Stewart, Mayor of Summerside. “Our participation in the Government of Canada’s Invest Canada Community Initiatives program is allowing us to develop projects such as the creation of an investment microsite and a series of print materials focused on making local investment opportunities more accessible and attractive to foreign investors. These initiatives are key components of our city’s economic development strategy.”
ICCI funds up to 50 per cent 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.