Location Canada 2013

LOCATION

CANADA 2013

GREATER Than the SUM of Its PARTS

The Bicoastal Gateway to NORTH AMERICA A Thriving Economy Meets NEW-AGE Challenges Innovative

HIGH-TECH Sectors

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LETTER FROM THE MINISTER

TABLE OF CONTENTS Minister’s Letter

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n behalf of the government of Canada, it gives me great pleasure to address readers of the 2013 edition of Location Canada magazine.

Canada remains one of the best places in the world for international business and foreign direct investment, with a robust economy and strong business fundamentals. Indeed, in the aftermath of the worst global recession in a generation, Canada has continued to outperform its G-7 peers in terms of job creation, economic growth, income growth, and our debt-to-GDP ratio. Forbes magazine has rated Canada as the best country in the G-20 for business and the World Economic Forum has rated our banking system as the world’s soundest for the past five years. We are also among just a handful of nations in the world with a triple-A credit rating. This provides assurance to business investors here and abroad about the security of their direct investments in Canada.

Our government is working to ensure that Canada continues to be a top destination for foreign investment that benefits Canadians and investors alike. Through Economic Action Plan 2013, we are bolstering the competitiveness of the Canadian economy by investing in the manufacturing sector, encouraging innovation, and increasing the availability of skilled labor.

Further, we are improving Canada’s public infrastructure, deepening our trade and investment relationships in large and fast-growing markets in the world, and improving our country’s fiscal framework by returning to a balanced budget in 2015. Our government continues to create the conditions needed to attract the global investors who create jobs and new sources of economic growth and prosperity in communities across Canada.

Our government is working to ensure that Canada continues to be a top destination for foreign investment that benefits Canadians and investors alike.

Clearly, investing in Canada makes excellent business sense. We offer access to a North American market of over 460 million consumers. We also offer a strong, stable financial system; low taxes; one of the highest standards of living in the G-20; a businessfriendly environment; world-class cities; spectacular natural landscapes; and an innovative, well-educated, and multicultural work force. Canada truly provides a preferred destination for global investment.

I invite you to learn more about Canada’s world-leading business advantages — and why Canada continues to be a top destination for foreign investment — within these pages and at investincanada.com.

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Features

Canada — Greater Than the Sum of Its Parts C4

A combination of beneficial attributes across a diverse industrial and geographic landscape has made Canada a global economic leader and attractive place to invest.

Innovative High-Tech Sectors C11

Canada’s clean energy, ICT, life sciences, and advanced manufacturing sectors are clustered around seven vibrant metropolitan areas.

Canada’s Thriving Economy Meets New-Age Challenges C18

The aggressive use of incentive tools has provided meaningful opportunities for Canadian-based businesses to offset costs associated with growth.

The Bi-Coastal Gateway to North America C21

Canada’s national government has developed and is now implementing a series of gateway and corridor strategies in order to become the preferred route into and out of North America.

Sponsors Index C24

Exclusive O N L I N E Content

Canada Lays Out Welcome Mat for Entrepreneurs

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CANADA — GREATER THAN THE SUM OF ITS PARTS A combination of beneficial attributes across a diverse industrial and geographic landscape has made Canada a global economic leader and attractive place to invest.

By Mark Crawford

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anada’s economy continues to rock. By just about any standard, Canada’s economic performance dominates the G-7 and the G-20, thanks in part to its economic diversification. Not only is Canada well-known for its traditional industries of mining, energy, lumber, agriculture, and fisheries, but its knowledgebased sectors like biotechnology and life sciences, nanotechnology, advanced manufacturing, information and communications technology (ICT), and aeronautics have gained international reputations as well.

Why does Canada have such a track record of success? The biggest factor is the Canadian government’s commitment to create a fertile business climate that is supported by a number

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of competitive advantages, such as low business costs and corporate tax rates, a highly skilled and educated work force, strong R&D incentives, and a stable banking environment. When integrated together, these advantages create a climate that supports innovation, business growth, and diversification. Robust, longterm public-private partnerships among federal and provincial governments, academic institutions, and privatesector companies have resulted in the development of strong industries that are achieving change on a global level.

FISCAL STABILITY Corporations want to invest in a country that has a solid track

record of fiscal stability and reasonable, predictable economic management — which starts with government. Canada is one of the most financially stable countries in the world. With the lowest debt-to-GDP ratio in the G-7 in 2011, Canada expects to hold this leading position through the 2012–2013 forecast period.

For the fifth consecutive year, the World Economic Forum (WEF) has declared Canada’s banking system to be the soundest in the world. This was also proven by the Great Recession — during the financial crisis, not a single Canadian bank or insurer failed, and none required bailouts. In addition, according to Global Finance magazine, six of the top 10 safest banks in North

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America are Canadian. Standard & Poor’s has also reaffirmed Canada’s AAA credit ratings — all of which confirm that it’s very hard find a better place to invest business capital.

TALENTED WORK FORCE As indicated by the Organization for Economic Cooperation and Development (OECD), Canada’s work force is one of the most highly educated in the world, with half its working-age population holding at least a high-school education.

Canada also has the highest percentage of individuals achieving at least college or university education among OECD member countries. The overall skill level of Canada’s work force is also tops. For example, the availability of qualified engineers in Canada is the highest in the G-7, according to the Institute for Management Development (IMD).

A highly skilled work force is a big reason the ALTEN Group — a French engineering firm that specializes in aerospace, telecommunications, life sciences, and auto manufacturing — decided to establish its Canadian headquarters in downtown Montreal, with plans to create 200 high-tech jobs within three years.

“Montreal has a big pool of talent that we can tap, with its top-notch universities and engineering schools, and this is a key to developing our Canadian presence,” says Maxime Leca, man-

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aging director of ALTEN Canada.

“The region excels in several cutting-edge technology fields, and the business environment is also very positive.”

Canada also does a great job of creating a leadership pool to manage its talented workers — the WEF ranked Canada second in the G-7 for the quality of its management schools. Six Canadian schools of management are also ranked among the top 100 in the world according to the Financial Times (UK) Global MBA rankings for 2013. In addition, according to a study that measured the extent to which management education meets the needs of the business community (World Competitiveness Yearbook 2012), Canada ranked first in the G-7.

KPMG’s 2012 Competitive Alternatives study indicates Canada has the second-lowest business costs among G-7 countries and a 5 percent cost advantage over the United States. Key drivers are as follows: • Canada’s overall tax rate on new business investment is substantially lower than in all other G-7 countries.

• Canada’s combined federalprovincial general corporate income tax rate is lower than in most other G-7 countries (and about 13 percent lower than in the U.S.) • According to Forbes Publishing, Canada was highly ranked in a number of categories, including the

REAL GDP GROWTH IN G-7 COUNTRIES, 2002-2011 (%) 2.5 2.0

2.0 1.6

1.5

1.6

1.4

1.2

1.0

1.1 0.7

0.5

0.3

0.0 CANADA

U.S.

U.K.

E.U.

GERMANY

FRANCE

JAPAN

ITALY

SOURCE: World Bank, January 2013

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AÉROPORTS DE MONTRÉAL

The Ideal Real-Estate Partner

Two World-Class Aero-Industrial Sites Aéroports de Montréal (ADM) and its two world-class airports, Montréal-Trudeau and Montréal-Mirabel, offer you the most favorable opportunities for locating or expanding your firm.

At the Heart of Montréal’s Aerospace Industry Greater Montréal is one of the world’s three aerospace capitals, along with Seattle and Toulouse. It is among the rare places in the world where all the main components of an aircraft are manufactured within a 20-mile (30-kilometer) radius. Nearly two-thirds of Canadian production is centered here. More than 250 enterprises are located at ADM’s two airports, generating a grand total of 60,000 direct and indirect jobs.

Montréal’s aerospace industry boasts prime contractors, equipment manufacturers, among the world’s top subcontractors and suppliers, as well as a qualified and competitive labor force and unique training centers. The presence of all these key industry players explains why the Greater Montréal region is renowned for its leading-edge expertise in the design, manufacturing, integration, overhaul, and repair of aircraft and aeronautical subsystems.

Montréal-Trudeau: Ideal for logistics and aeronautics • 14 million square feet (1.3 million square meters) available for aeronautical development • Located in Québec’s industrial and aerospace heartland • 20 minutes from downtown and accessible via several highways • A 4,000-acre (1,620-hectare) site where more than 25,000 people already work • Canada’s largest MRO and aircraft manufacturing center • A congestion-free international airport • More than 30 carriers serving 130 destinations

Montréal-Mirabel: Focusing on all-cargo, aeronautics, light manufacturing, tourism, and recreational • 50 million square feet (4.6 million square meters) of land and buildings available for lease • Located in the Laurentians, Québec’s top tourism region • Easy access to all services and a quality labor force • An industrial zone where more than 4,000 people already work

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• Québec’s second-largest aerospace hub • An aerospace training center and engine test facilities • An international airport with 24/7 cargo and general aviation operations • A regional base for business aviation • A unique motorsports complex • 24 all-cargo carriers

FOLLOW THEIR LEAD! Aerospace design and manufacturing • Bombardier Aerospace • Mirabel-Mecachrome Inc. • Pratt & Whitney Canada • Aérolia Maintenance, repair, and overhaul • AeroToy Store • Air Canada • Avmax Group • Avianor Group • Innotech-Execaire Aviation Group • L-3 MAS Training • Institut de formation aérospatiale Engine test centers • Pratt & Whitney Canada Logistics distribution centers • Aeroterm • FedEx • Purolator • Spire Freezers • Everest Cold Storage

FOR MORE INFORMATION

please contact:

Real Estate and Commercial Services

Aéroports de Montréal Telephone: 514-394-7201 Fax: 514-394-7356

www.admtl.com

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Countless opportunities.

Infinite possibilities.

Location, location, location.

To be at the heart of one of the world’s aerospace capitals – that’s why developers like you are choosing to do business in Greater Montreal. By setting up shop here, you’ll be in close proximity to two world-class industrial sites, Quebec’s highly-skilled workforce, and a network of the world’s top suppliers and subcontractors.

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And with the vast amount of commercial space available, you’ll have plenty of room, not only to get your business started but to take it wherever you want to go. By choosing to develop in Greater Montreal, you’re investing in the success of your business.

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CANADA GREATER THAN THE SUM Intelligence Unit. It also ranked fifth overall out of 82 countries in the Economist Intelligence Unit’s global business rankings for the forecast period 2013–2017. And Canada led the G-20 and stood fifth overall in Forbes latest (November 2012) 141-country annual study on the “Best Countries for Business.”

amount of red tape involved in starting a business (third place) and investor protection (fourth place).

• Canada ranks first among the G-7 and OECD countries for the lowest number of procedures required to establish a new business.

• The Economist Intelligence Unit (EIU) (February 2013) ranked Canada highly for its infrastructure, market opportunities, low tax rates, and foreign trade and exchange controls.

Therefore, it is not surprising that Canada is considered to be the best place to do business in the G-7 over the next five years, according to the Economist

RESEARCH AND DEVELOPMENT Canada currently offers one of the most favorable tax treatments for R&D among the G-7 — especially for biotechnology, pharmaceuticals, and advanced manufacturing. Canada provides a system of tax credits and accelerated tax deductions for a wide

LEGATUM PROSPERITY INDEX* G-7 Ranking 1st 2nd

3rd

RANK

4th

5th

6th 7th

CANADA

U.S.

U.K.

GERMANY

FRANCE

JAPAN

ITALY

*The Legatum Prosperity Index ranks countries based on 89 variables grouped into 8 sub-indexes which are averaged using equal weights. The sub-indexes are economy; entrepreneurship & opportunity; governance; education; health; safety & freedom; personal freedom; and social capital.

SOURCE: Legatum Institute, London, October 2012

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variety of R&D expenditures.

Eligible costs include salaries, overhead, capital equipment, and materials. These tax-based treatments allow companies to significantly reduce their R&D costs through direct investment or sub-contracting in Canada.

The nation’s generous R&D tax incentives save companies, on average, 30 cents on a dollar invested in R&D in Canada. R&Dintensive sectors also enjoy the lowest costs in the G-7, these being about 10 percent lower than in the United States.

Angiotech, a pharmaceutical and medical device company founded in 1992 by then-medical-student William Hunter, can attest to the support of the National Research Council’s Industrial Research Assistance Program (NRC-IRAP) in helping his company turn scientific ideas into groundbreaking treatment solutions — including a product that has been implanted in over four million patients in the world.

“The role of the Canadian government in supporting privatesector research through programs such as the NRC-IRAP is extremely important for supporting our culture of innovation,” says Angiotech’s CEO Hunter.

In a move that further confirms this deep belief in assisting hightech startups, Prime Minister Stephen Harper recently announced a new initiative called the Venture Capital Action Plan that will help high-growth companies access venture capital to

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LOCATION CANADA build their businesses and create jobs. The plan includes $400 million to help increase private-sector investments in early-stage risk capital, and to support the creation of large-scale venture capital funds led by the private sector.

“Our government understands that Canada’s long-term economic competitiveness in the emerging knowledge economy needs to be driven by globally competitive, high-growth businesses that innovate and create high-quality jobs,” says Prime Minister Harper.

“We will provide the resources needed to put Canada’s venture capital industry on the path to sustainability and ensure Canada’s high-potential firms have the resources they need to succeed.”

ECONOMIC PERFORMANCE According to Consensus Economics, Canada was a top performer among the G-7 in GDP growth from 2009 to 2012.

Similarly, recent OECD statistics also rank Canada as a top performer among G-7 countries and further predict Canada’s economy will continue to be an international leader through the 2013–2014 forecast period. Canada has stormed back from the Great Recession, recovering more than all the output and the jobs that were lost during the downturn.

Over the past decade, Canada has witnessed a substantial growth in both inward and outward foreign direct investment (FDI), reflecting its international

reputation as a good place to do business, as well as its strong connections to global supply chains. Canada was the secondlargest recipient of global FDI inflows per capita in the G-20 from 2007 to 2011. Canada’s inward FDI stock reached C$607 billion in 2011, almost twice what it was in 2001. Expansion of Canada’s outbound FDI — its direct investment abroad — is equally impressive, increasing from about C$400 billion in 2001 to almost C$700 billion in 2011.

Much of Canada’s economic success is a result of its longestablished trading relationships with the United States and Mexico, all of which can operate on a modern, well-integrated transportation system that is one of the best in the world. As a member of the North American Free Trade Agreement (NAFTA), Canada has access to more than 450 million consumers and a combined GDP of about $18 trillion — the most lucrative market in the world.

The U.S. is Canada’s numberone trading partner. Many Canadian manufacturing centers are actually closer to U.S. markets than American production sites — for example, 17 of Canada’s 20 largest cities are within a 90minute drive of the United States.

Automated permit ports, transponder identification systems, and joint processing centers are among the innovative tools that Canada is using to facilitate the flow of goods and

services across the border.

Canada also continues to strengthen its trade relationships with Asia-Pacific markets and European centers. For example, Canada will soon finalize a trade agreement with the European Union (EU), its second-largest trading partner. With more than 500 million consumers and a GDP of over $17 trillion, the EU is the world’s largest integrated economy. A trade agreement with the EU will be Canada’s most significant trade initiative since NAFTA and bring strong economic benefits, especially for Atlantic Canada and the province of Quebec.

“Our government is committed to jobs, growth, and long-term prosperity,” states the Honorable Ed Fast, Minister of International Trade. “Quebec’s chemicals and plastics industry is one of the province’s largest manufacturing sectors, employing tens of thousands of people. EU demand for value-added and specialty products is growing in a wide variety of areas. Quebec’s strengths and expertise in this sector mean that its companies are well placed to meet this demand in the lucrative EU market.”

QUALITY OF LIFE Canada is a land of immense natural splendor that provides its citizens with affordable living and healthcare, excellent education, and an abundance of opportunities for professional and personal growth.

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people.

The right connections.

The right place.

The right

An educated and skilled work force, direct access to various transportation modes, attractive real estate, leading edge technology and home to four post-secondary institutions all combine to make Oshawa an excellent location for a new or relocating business. Let us help you find YOUR right place in Oshawa, Ontario, Canada.

City of Oshawa, Economic Development Services 1-800-667-4292 I business@oshawa.ca I www.oshawa.ca

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According to the 2012 Legatum Prosperity Index, Canada ranks first in the G-7 and sixth among 142 countries in terms of overall prosperity — determined by 89 variables in eight categories: economy, entrepreneurship and opportunity, governance, education, health, safety and freedom, personal freedom, and social capital.

In 2012 the World Bank stated that Canada had the highest standard of living in the G-7 and the second highest in the G-20, as measured by gross domestic product (GDP) per capita.

According to the OECD, Canada has the second-highest quality of life in the G-7 and one of the lowest income disparities when compared to other G-7 nations. The Reputation Institute ranks Canada as having the highest reputation ranking among 50 countries based on several indicators, including a high quality of life, a safe place to live, an advanced economy, an effective government, and an appealing environment.

Canadians appreciate multicultural diversity and welcome immigrants from around the world.

In fact, Canada has one of the world’s most multilingual societies with over 200 languages identified as the mother tongue. Some of the world’s most cosmopolitan cities, including Toronto, Vancouver, and Montreal, add diversity to Canada’s vibrant social landscape, as well as outstanding educational and employment opportunities.

In March 2013 Toronto became North America’s fourth-largest city with an estimated population of 2.8 million (only Mexico City, New York City, and Los Angeles are larger). Toronto’s population is growing by about 40,000 people every year, drawn by the wealth of social and economic opportunities it offers.

“We are attracting people from across North America and other parts of the world,” says Toronto Mayor Rob Ford. “These figures show that Toronto is one of the most desirable locations for people to live and work.”

All told, its outstanding economic performance, fiscal stability, talented work force, generous incentives, and enviable quality of life, make Canada the perfect place to establish a business and put down roots. LC

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INNOVATIVE HIGH-TECH SECTORS Canada’s clean energy, ICT, life sciences, and advanced manufacturing sectors are clustered around seven vibrant metropolitan areas.

By Mark Crawford

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ne reason Canada is a world leader in knowledgebased industries is its integrated approach to driving economic growth through innovation. Not only does Canada provide lucrative research and development (R&D) tax credits and incentives for hightech projects, it also aggressively supports entrepreneurial efforts, intellectual property rights, and the immigration of highly skilled business workers and leaders.

High-tech R&D, commercialization, and manufacturing are anchored in high-tech clusters in major cities across Canada.

Common features among these clusters are federal and provincial initiatives and funding, strong research programs, collaborations with academic institutions, and incubator resources for small hightech startups. This kind of proinnovation environment is especially attractive to major foreign investors who want to enter a market,

become key players, and minimize their learning curves. Thriving high-tech clusters also attract world-class talent from overseas.

Much of Canada’s high-tech development and commercialization takes place in seven key clusters surrounding Vancouver, Calgary, Winnipeg, Toronto, Waterloo, Montreal, and Halifax.

The companies in these clusters recognize that by working together and supporting each other they bring more attention and prosperity to all — and perhaps even make a discovery that changes the world in a spectacular way.

FROM CONVENTIONAL ENERGY TO CLEAN TECH Alberta is home to more than 60 percent of the country’s conventional crude oil reserves and all of its heavy oil and oil sands reserves.

Many of the world’s largest international oil and gas companies have established headquarters in Calgary,

driving almost $75 billion in energyrelated projects across the province.

Although oil and natural gas are the major energy targets, Calgary is also the base for a steadily growing Sustainable and Renewable Energy (SURE) sector. The city has been successful in attracting national research initiatives that are exploring new ways of controlling greenhouse gas emissions and increasing efficiencies of renewable energy and energy systems and technologies. Collective energy knowledge and advancements in technology, along with the support of many research and postsecondary institutions, think tanks, and innovators within government and industry, are driving collaboration within the SURE cluster.

Ranked as one of the world’s most cosmopolitan cities, Vancouver also has one of the largest clean-tech industries in North America. The National Research Council (NRC) of

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HIGH-TECH SECTORS Canada, which was recently ranked as one of the top organizations in the world for its fuel cell research, conducts much of this work at its state-of-the-art center in Vancouver.

In true cluster behavior, the presence of NRC, along with the Innovation Clean Energy Fund, which provides funding to companies with promising renewable energy technologies, has brought strong growth in this sector.

Vancouver is currently home to 25 percent of all clean-tech companies in Canada. One of these leaders is Ballard Power Systems, a manufacturer of proton exchange membrane (PEM) fuelcell technology that is being used across an increasingly wide range of applications and industries. For example, Nokia Siemens Networks recently partnered with Ballard Power Systems — a collaboration that “allows us to leverage our expertise to deliver an emergency-ready alternative power solution for mobile networks during outages caused by natural calamities and commercial grid failures,” says Larry Stapleton, vice president of sales at Ballard Power Systems.

AN ICT LEADER With 30 percent of Canada’s 40,000 ICT firms, Toronto, Ontario, is also one of the largest ICT clusters in the country. In September 2012 Toronto-based IBM Canada, in collaboration with the federal and provincial governments, opened its IBM

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Canada Leadership Data Centre in nearby Barrie — one of the most advanced computing facilities in the country and part of the company’s $175 million IBM Canada Research and Development Centre network.

“This new facility provides a flexible foundation ingrained in best practices so we can deliver essential services to help organizations and partners better manage data, reduce operating costs, improve productivity, and gain competitive advantage,” says John Lutz, president of IBM Canada.

Also in Ontario, the Waterloo region known as the Technology Triangle, which consists of the cities of Cambridge, Kitchener, and Waterloo, has become a preferred destination for technology start-ups, incubators, accelerators, and young inventors. High technology in the “Triangle” is supported by three acclaimed universities, a college, and more than 150 research organizations, including the Perimeter Institute (where physicist Stephen Hawking is a Distinguished Research Chair) and the Institute for Quantum Computing. More than 22 percent of all spin-off Canadian information technology companies have gotten their start in University of Waterloo incubator programs.

And over half of Alberta’s fastest-growing companies are in the ICT sector, which includes information technologies, electronics, telecommunications, and

wireless. An important asset for Calgary-based ICT companies is Innovate Calgary, a partnership between Calgary Technologies and University Technologies International. This full-service organization provides technology-transfer and business-incubator services to advanced-technology businesses, entrepreneurs, and researchers. Started in 2010, Innovate Calgary has evaluated over 1,500 discoveries, secured nearly 700 patents, and developed or assisted in the creation of over 40 spin-off companies.

Winnipeg, Manitoba, was recently chosen as the site of a new cloud computing center owned and operated by Canadian Tire Corp. The facility will be home to a digital content warehouse, application and testing labs, and a high-performance data center. Winnipeg’s burgeoning technology community, media-savvy graduates, and reputation as a gaming hub were among the factors influencing the location decision. The province of Manitoba also offers a data processing tax credit.

LIFE SCIENCES CLUSTERS Toronto’s biotech cluster is the largest in Canada, with established headquarters for nearly 50 global pharmaceutical and biotechnology companies, as well as numerous research facilities. A new addition is Sunnybrook Research Institute’s recently opened Centre for Image-Guided Therapeutics. The $160 million,

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The Greater Montreal, Quebec, region, is a major world center for biotechnology. The largest amount of biotech R&D in Canada is conducted in Montreal, including work on aging, neuroscience, cancer, cardiovascular and metabolic diseases, genetics, genomics, and proteomics. In 2011 Montreal ranked sixth among North America’s largest metropolitan areas in life sciences employment. Over $1.6 billion in venture capital was invested in Montreal’s life sciences industry between 2001 and 2011.

Greater Montreal is where many internationally recognized biotechnology companies are headquartered, including Alethia Biotherapeutics, Bio-K Plus International, and Caprion, a leader in proteomic services.

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Caprion has experienced growth of 35–40 percent over the past few years, a trend that should continue as the company develops its own diagnostic tools for cancer and other diseases.

“Greater Montreal has a significant pool of talent trained in the scientific disciplines that are critical for our success,” indicates Martin Leblanc, president and CEO of Caprion. “It also has people with vital management and business development skills.

What we have is a complete ecosystem, a unique cluster in North America that brings together players capable of collaborating and adopting common strategies.”

Halifax — a major port and the regional growth engine for Nova Scotia and the Atlantic Canada region, as well as one of the most competitive Canadian cities for doing business — supports another life sciences cluster. For example, the Brain Repair Centre, based at Dalhousie University, is an internationally acclaimed part-

nership that brings together more than 100 world-class researchers and physicians to find treatments for Parkinson’s, Alzheimer’s, spinal cord injury, and other brain disorders. Halifax is also home to a world-class marine research cluster that includes Defense Research and Development Canada; the Bedford Institute of Oceanography, Dalhousie University; and Lockheed Martin’s Technology Collaboration Center.

Manitoba’s biotechnology sector is one of the fastest-growing in Canada, with a focus on biomedical R&D and agricultural biotechnology. Winnipeg is home to the National Research Council’s Institute for Biodiagnostics, Canada’s most advanced research facility for developing nuclear and other magnetic resonance imaging technologies.

ADVANCED MANUFACTURING Although the Waterloo, Ontario, Technology Triangle is best known for ICT, it is also a

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HIGH-TECH SECTORS center for automotive manufacturing and research and development. The Waterloo Centre for Automotive Research at the University of Waterloo is one of Canada’s top automotive research centers. Employing more than 75 automotive researchers, the center represents the largest university-based automotive activity in Canada and works in partnership with automotive manufacturers and suppliers, including Toyota Motor Manufacturing Canada, which operates an assembly plant in Cambridge.

“Manufacturing is all about people, and I believe that we have some of the best people in the world right here in Ontario,” says Ray Tanguay, chairman of Toyota Motor Manufacturing Canada. “That is one reason we have been so successful.”

Canada’s 400-plus aerospace manufacturing and services companies have a worldwide reputation for quality, value, performance, and reliability. In 2011, Quebec exported nearly $7 billion worth of aerospace products, accounting for almost two-thirds of Canada’s total aerospace exports.

Montreal is Canada’s largest aerospace cluster and is well known for its expertise in aircraft fabrication and assembly, engine manufacturing, avionics, maintenance and repair, and landing gear. Major aerospace companies in Montreal include Bombardier Aerospace, Bell Helicopter Textron Canada, and Pratt & Whitney Canada. Montreal is also home to

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more than 10 aerospace research centers, including the Canadian Space Agency and the Aerospace Manufacturing Technology Centre (AMTC) at the NRC Institute for Aerospace Research.

In March 2013 Bombardier Aerospace announced it plans to test-fly its new CSeries of aircraft this summer. Designed for the growing 100- to149-seat market, this new family of airplanes combines advanced materials and leading-edge technology, such as Pratt & Whitney’s new PurePower® Geared Turbofan™ engine, which recently achieved Transport Canada type certification and will power the CSeries aircraft. These planes will be up to 12,000 pounds lighter than other aircraft in the same seat category and provide passengers with a best-in-class, wide-body cabin environment. At the end of 2012, Bombardier had booked nearly 400 orders and commitments for the new line of aircraft.

“The CSeries is a game-changer in a changing economic environment,” says Mike Arcamone, president of Bombardier Commercial Aircraft. “Specifically adapted for airlines that want to increase the productivity of their aircraft, the extra capacity seating option allows us to offer the highest seating capacity in its market segment, with the best-in-class seat mile costs and comfort.”

Another major focus in today’s aerospace sector is composite manufacturing. Boeing, Magellan Aerospace, and Advanced

Composite Structures all have operations in Winnipeg, Manitoba, with Boeing’s composite manufacturing facility the largest of its kind in North America. Winnipeg is also home to the Composites Innovation Centre (CIC), a public-private partnership that supports R&D for new composite materials and technologies for manufacturing industries. Researchers are investigating how agricultural fibers such as hemp and flax can be incorporated into composite materials to manufacture parts that are lighter weight, cheaper, and more sustainable to make. If successful, these “biofibers” could even replace fiberglass in engineered plastics. The CIC also plans to develop the first-ever grading system for biofibers, as well as develop a database for this information.

“It is essential to understand the quality of these biofibers to ensure consistency,” says Simon Potter, sector manager for product innovation at the CIC. Once the database is completed, CIC could become the leading biofiber-testing facility in the world.

And also in Manitoba, GE Aviation is expanding its $50 million, 122,000-square-foot coldweather engine-testing facility in order to make it functional yearround. The “one of a kind” facility just opened in 2012 on the campus of Winnipeg’s international airport, which is located within the CentrePort footprint. (CentrePort is Winnipeg’s inland port.) LC

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CANADA’S THRIVING ECONOMY MEETS NEW-AGE CHALLENGES The aggressive use of incentive tools has provided meaningful opportunities for Canadian-based businesses to offset costs associated with growth.

By LESLIE WAGNER, GINOVUS, Economic Development Advisory Services

C

anada is one of the world’s weathiest nations, with a population of approximately 34.4 million people and the 11th largest economy in the world based on gross domestic product. Often referred to as the land of a thousand stereotypes, the nation may be entitled to a bit of boasting based upon the overall health and stability of the economy, strength of financial systems, and success in economic development efforts.

Comprised of 10 provinces and 3 territories, Canada is a major exporter of oil, minerals, automobiles, manufactured goods, and forest products. The top federal income tax rate is 29 percent and the top corporate tax rate is 15 percent. Other significant taxes include the value added tax (VAT)

and a property tax. The overall tax burden amounts to approximately 31 percent of total corporate domestic income.

Canada’s highly competitive regulatory framework promotes business formation and operation. With no minimum capital standards, starting a company in Canada requires only one procedure. Flexible labor regulations enhance employment and productivity growth. The government of Canada prioritizes worldclass infrastructure as a conduit for more prosperous communities, stronger economies, and a cleaner environment.

The federal government works hand in hand with the provinces, territories, municipalities, and First Nations to support programs on a nationwide scale. Provinces

typically administer the federal programs on behalf of their individual regions. A prominent paradigm of this is the Building Canada Fund, a fund allocated to individual provinces based on population whose purpose is to invest in public infrastructure owned by provincial, territorial, and municipal organizations. The collaborative effort of the federal government and the sub-federal entities it supports is proving to be successful in building a strong economic environment for growth and competitiveness throughout Canada.

While the overall health and stability of the Canadian economy is thriving, there have been some unique challenges at the provincial level, most of which have been responded to with a strate-

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CANADA’S THRIVING ECONOMY gic approach to improvement and aggressive use of financial incentives to help attract new business and help existing companies grow. A closer look follows.

ALBERTA The thriving economy in Alberta holds its foundation in the natural advantages of the province. Oil sands and oil and gas make energy a key economic driver for the area. In addition to its natural resource assets, Alberta boasts one of the lowest overall tax rates in Canada and is the only province with no provincial retail sales tax. On top of this favorable business environment, Alberta does not impose taxes on capital or payroll at the provincial level, as is common in other provinces and the United States.

One challenge facing the province is Alberta’s ability to maintain a strong supply of skilled labor, especially for employers who have a large number of workers reaching retirement age.

Accordingly, measures to increase the availability of skilled workers are in process, including immigration policy initiatives, increased participation for underemployed segments of society, increased productivity and innovation, and efforts to raise the awareness about job opportunities to those outside of the region. The Southeast Alberta Workforce Development Strategy includes a blueprint to inform, attract, retain, and develop the work force in the area.

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BRITISH COLUMBIA The provincial corporate tax rate in British Columbia is divided into a general corporate tax rate and a small business corporate tax rate.

The general corporate tax rate is 10 percent, making the overall tax rate in British Columbia 25 percent. The small business corporate tax rate applies to businesses with less than $500,000 in annual income and is a reduced rate of 2.5 percent.

British Columbia helps support its regional economic development efforts with a Small Business Tax Credit Fund of $33 million.

These are tax credit awards to eligible new businesses that have been operating for less than two years. The incentive value can be up to 30 percent of the company’s annual income, with a maximum value of $60,000. Eligible businesses include those within the industries of community diversification, interactive digital media development, research and development of proprietary technology, destination tourism, clean technology, and prescribed manufacturing and processing.

MANITOBA Corporate tax rates around 27 percent continue to place this province in a competitive environment. Manitoba has one the most diverse economies in Canada, with manufacturing making up the largest sector (12 percent of GDP), and finance, farming, and one of the country’s largest media companies rounding out other major industries. Manitoba is con-

tinuing to build opportunities through resources and technology, competitive corporate business taxes, and a solid work force.

Manitoba’s Action Strategy for Economic Growth is focused on seven key areas that have set the framework for the province’s continued success: education and skills, research and innovation, supporting investment, affordable government, growing immigration, Manitoba’s green energy advantage, and building communities.

NEW BRUNSWICK Rebuilding New Brunswick is the economic development action plan for New Brunswick 2012–2016. Outlined in the plan are initiatives to address the challenges facing the economy in New Brunswick, including an aging population, a relatively weak labor market, and limited trade initiatives.

The Northern New Brunswick Economic Development and Innovation Fund is specifically for the northern counties of New Brunswick and available for qualifying projects in existing companies for growth and development of capital resources; adoption of information and communication technologies; research, development, and innovation; improving strategic infrastructure; and advanced work force development. The fund will provide incremental assistance totaling $200 million over a fouryear period from April 2011 through March 2015.

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CANADA’S THRIVING ECONOMY NEWFOUNDLAND & LABRADOR Newfoundland and Labrador struggled when the fishing industry collapsed in the early 1990s, but the province has made an impressive recovery with recordbreaking employment levels in recent years. Employers are ready to hire a strong and able work force to continue momentum.

Economic development efforts have been strong, as can be seen in the development of the Economic Diversification and Growth Enterprises Program (EDGE), which provides incentives to encourage significant new business investment in the province to help diversify the economy and stimulate new private-sector job creation. Incentive opportunities include: • A 100 percent rebate on provincial corporate income tax and the provincial health and postsecondary education tax for a period up to 15 years depending upon the business location • A 50 percent rebate on federal corporate income tax • A further five-year period of partial rebates on both provincial and federal taxes, declining by 20 percent in each year of the phase-out period • A 100 percent rebate on municipal property and/or municipal business taxes followed by a five-year phaseout of such rebates within municipalities that participate in the EDGE program

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NOVA SCOTIA Nova Scotia is battling a work force decline expected to reduce its available work force by 20,000 by 2014 (mostly due to retirees).

Over the last 20 years, this province has experienced less economic growth than any other province in Canada. Nova Scotia has many economic development incentives available, and a major new program was recently announced. The Nova Scotia Jobs Here Program, under the auspices of the Productivity Investment Program, provides incentives for businesses to be more productive, innovative, and competitive. The Jobs Here Program is aimed at three main objectives for growing the necessary work force to support economic growth in the province: 1. Learning the right skills 2. Growing the economy through innovation 3. Helping businesses compete on a more global level Business incentives available under the Productivity Investment Program include: • Payroll Rebate — Payroll rebates are available to companies that are locating or expanding in the province. The payroll rebate is a return of a company’s eligible gross payroll (withholdings). The amount is dependent upon on the economic benefit generated to the province and is generally paid out annually over a term of five years or less.

• Workplace Innovation and Productivity Skills Incentive —

This job training incentive provides funding to companies to encourage investment in skills development and certification, as well as to help companies adapt to new technologies and processes, improve productivity, and strengthen global competitiveness.

• Research and Development Tax Credit — This program provides companies investing in R&D up to a 35 percent credit on eligible investment.

ONTARIO Ontario promotes its competitive work force as a differentiator and engine for business growth.

Sixty-four percent of adults in the Ontario province have completed postsecondary education.

Ontario’s combined federalprovincial corporate income tax rate of 26.5 percent is lower than the average of G-8 and G-20 countries and lower than the average federal-state corporate income tax rate in the U.S. Ontario offers incentive programs to support its economic development efforts to both existing businesses and communities.

The Eastern Ontario Development Fund (EODF) is a discretionary fund designed to support regional economic development efforts by creating jobs, attracting investment, and promoting innovation. The funding stream is available for established businesses that invest in excess of $10 million and create 50 or more jobs.

The Southwestern Ontario Development Fund (SWODF) is a

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ADVANCED MANUFACTURING discretionary fund that supports regional economic development by creating jobs, attracting private-sector investment, and promoting innovation, collaboration, and cluster development in southwestern Ontario.

The Strategic Jobs Investment Fund (SJIF) is a discretionary grant and loan program designed to support leading-edge investments and jobs in Ontario focused on clean/green technologies, financial services, informational and communication technology, and life sciences. In order to qualify for funding, a company must meet minimum project threshold requirements.

PRINCE EDWARD ISLAND With significant focus on innovation, Prince Edward Island’s economic development efforts are highly innovative.

The Innovation PEI initiative is focused on advancing economic development by investing in people, innovation, and infrastructure. Key sectors that have displayed high potential for economic growth within the province are being targeted, including aerospace, bioscience, information technology, financial services, and renewable energy.

Incentive tools are available to businesses to help them attract and expand industry including: • Innovation and Development Labor Rebate — A refundable wage rebate of 37.5 percent is available to projects in support of the development and/or com-

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mercialization of new products, processes, and services.

• Specialized Labor Tax Rebate — This is a lower labor tax rate used to hire and recruit key leadership personnel in the management and technical specialist areas for companies establishing operations where knowledge and skill is not yet available in the local labor market.

Tax holidays for targeted industries are available, as are programs based on capital investment and performancebased job creation.

QUEBEC Quebec’s ministries of Finance, Tourism, and Economic Development have recently merged to form the new Ministry of Finance and the Economy (MFEQ). This province offers some of the lowest tax rates in Canada, with an overall corporate tax rate of approximately 27 percent. There are several economic development programs in place to assist growth in the region.

The Quebec Economic Development Program (QEDP) supports the economic development efforts of the region, including entrepreneurship, business performance, and investment.

The objectives of the Community Futures Program (CFP) include stability, economic growth, job creation, developing and maintaining sustainable communities, and competitive local economies in rural areas.

Infrastructure programs support

improvements, rehabilitation, and expansion of existing community infrastructure. Incentive programs come in the form of grants, nonrepayable and repayable contributions, depending on the programs. Nonprofit, public, or parapublic organizations and First Nations governments are eligible for grant programs.

SASKATCHEWAN A number of economic development incentives help support growth. New capital investment in Saskatchewan hit an all-time record of $20.2 billion in 2012, according to a report by Statistics Canada. The incentives below are aimed at offsetting business costs of a growing corporation: • Manufacturing and Processing Investment Tax Credit — This nonrefundable income tax credit is designed to encourage plant and equipment investment.

This credit is available to all manufacturing and processing corporations with some allocation of taxable income to Saskatchewan.

• Research and Development Tax Credit — This 15 percent credit is fully refundable for Canadian-controlled private corporations; up to $3 million is available for qualifying research and development expenses.

• Municipal Property Tax Abatement — Municipalities are able to offer five-year property tax abatements. The amount of the incentive, qualifications, and management are defined per municipality. LC

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THE BI-COASTAL GATEWAY TO NORTH AMERICA Canada’s national government has developed and is now implementing a series of gateway and corridor strategies in order to become the preferred route into and out of North America.

By Christopher Steele, COO AND NORTH AMERICA PRESIDENT, Investment Consulting Associates

W

hile our Great White North neighbor is one of the United States’ largest trading partners, Canada also has a grand history of shipping and logistics ties to Europe and Asia.

The nation’s vast reserves of natural resources and its own innovation and manufacturing prowess have found favor in markets around the globe. Logistics and freight movement are now the areas of excellence that Canada aspires to, and the country is building a set of strategies to become the preferred gateway into and out of North America.

To do this, the national government has developed and is now implementing a series of gateway and corridor strategies across the country. Each is a

direct partnership between Transport Canada and all of the affected provinces. The strategies are intended to provide a comprehensive approach toward transportation, defining each gateway as a multimodal entry/exit point through which goods and international passengers move through local, regional, and international markets.

Each gateway then connects through one or more trade corridors, defined as a multimodal linkage of international passenger and/or freight flows between major markets.

Each of the three gateway strategies (Atlantic, OntarioQuebec, and Asia-Pacific) is intended to be an integrated package of policy and long-term

infrastructure investment to advance Canada’s strategic advantage for logistics and economic development. Execution of each strategy has explicit steps including: • Infrastructure — Through examining the current and expected demands and capacity upon key facilities in the transportation network, the country and provinces are determining where to make key investments. This includes identifying and eliminating critical barriers to flow.

• Promotion and marketing — By understanding how markets are changing, the country is developing plans for marketing and trade missions to specific

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BI-COASTAL GATEWAY intended to complement market-oriented transportation needs, while creating a positive climate for private investment and also safeguarding the public interest.i Each of the gateways is taking an approach that includes each of the above steps, but with an eye toward its specific circumstances and opportunities going forward.

EAST COAST GATEWAYS Vancouver Waterfront

industries around the globe.

• Border efficiency and security — International trade involves border crossings by definition. Canada’s strategies hinge on having security measures that are robust and still allow for the timely passage of goods and passengers. The U.S.-Canada border is of particular importance, and Transport Canada has been working with its U.S. counterparts for years to develop effective practices.

• Policy and regulatory issues — The government is explicitly working with the private sector to understand how policies impact business and to develop regulations that minimize undue negative business impacts, while achieving a safe, secure, efficient, and environmentally responsible transportation system.

• Technology — Strategies

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include developing systems that maximize the ability of the transportation system to improve accessibility, ease traffic and congestion, and limit the adverse impacts of freight and passenger movement in areas such as the environment.

• Knowledge and skills — As part of the overall policy, the government is making investments in education and work force development to ensure that there is a robust skills base available to both industry and the public sector to allow for the continued sustainability of the system.

• Governance — The gateway approach depends upon partnerships and collaboration across modes of transportation, across borders, and across the public and private sectors. Policies and investments are specifically

In 2010, Transport Canada — in cooperation with the provincial governments of Nova Scotia, New Brunswick, Prince Edward Island, and Newfoundland & Labrador — published a full “Atlantic Gateway and Trade Corridor Strategy.” This plan was an explicit attempt to build opportunities for the region’s economic success through positioning it as a logistics center linking Europe to the North American heartland. The plan’s vision speaks for itself: “Canada’s Atlantic Gateway and Trade Corridor is a strategic, integrated, and globally competitive transportation system for international commerce to and from North America.”ii The Atlantic region already handles significant levels of international trade, and exports already contribute to about one third of the region’s GDP. Significant export markets include refrigerated cargo, agriculture, forestry, energy, minerals, and several manufactured products.

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LOCATION CANADA The provinces have also placed a priority on energy and container trade, with specific targets in Africa, Central America and the Antilles, Europe, the Middle East, and North and South America.

THE ASIA PACIFIC GATEWAY First announced in 2006, Canada’s Asia Pacific Gateway and Corridor Initiative (APGCI) is a network of transportation assets and corridors across western Canada. By investing in infrastructure, the Canadian federal government plans to strengthen the country’s overall trade position, particularly as it concerns trade with Asia. Main investments include strengthening road, rail, and air connections between the Pacific ports of Vancouver and Prince Rupert and various production and logistics centers across the country.iii The initiative is also aimed at making the Canadian transportation network a more attractive alternative to companies in the U.S. Pacific Northwest and Midwest looking to move materials to and from Asia. The initiative focuses on gateways and corridors, providing fully integrated ways of moving goods between North American and Asian markets. For example, by investing in the Canadian National and Canadian Pacific railroads — as well as in infrastructure at key border crossings — the Canadian transportation network can provide a seamless, one-carrier network to bring

materials from Asia to markets such as Memphis, Minneapolis, and Chicago.

THE CENTRAL PASSAGE While not as world-changing as the fabled Northwest Passage, the Ontario-Quebec Continental Gateway and Trade Corridor is the third major corridor and perhaps the most immediately significant to the nation’s plans for economic growth. The OntarioQuebec set of logistics channels differs somewhat from the Atlantic and Asia-Pacific in the following ways: • Consumer population and production density — This gateway corridor provides direct access to major North American markets with over 135 million consumers over a very short distance (roughly 1000 km).

• Existing economic presence — Investment in this corridor is necessary to maintain economic health, as it is already the main economic corridor of Canada. The government estimates the value of trade in the corridor at about $560 billion, or roughly three times the combined value of trade in the two other Canadian gateways.

• Integration with existing multimodal Infrastructure — The multimodal transportation system already supports the formation of a formal corridor organization. The region’s infrastructure

includes four modes along the St. Lawrence-Great Lakes corridor and connects to the North American heartland.

In each of the three major corridors, a clear agreement has been signed among the affected provincial governments, as well as the government of Canada. Each also has identified an explicit coordinator to reach out to its counterparts in the United States.

Each strategy has outreach to the partners in the United States as an explicit work task.iv

DATA MANAGEMENT AND A COMPREHENSIVE FRAMEWORK While each of these initiatives has provided advantages for Canada, Transport Canada has been working to collect and interpret data across the national supply chain to seek out and address choke points and invest in other enhancements. Originally meant as a means for keeping an eye on Canada’s performance against the U.S. and Mexico, Canada’s data collection from private logistics and shipping firms measures the flow of goods from West Coast ports and through various channels in the national supply chain, and examines when and how they arrive at their destinations.v The country’s commitment to working with private firms in a partner relationship (rather than looking solely on Customs data, for example) provides a much more robust assessment of what is actually happen-

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BI-COASTAL GATEWAY

SPONSORS

ing across the system.

While the current phase of the project is focused upon goods moving from the West Coast ports to and from the interior, subsequent work will focus upon the supply chain between Antwerp as well as other European ports to cities in the Canadian and U.S. interior. Put another way, the data initiative will specifically build upon and enhance the existing gateway and corridor initiatives. In fact, the entire national corridor exercise and data infrastructure suggest an analogy to a privatesector network optimization exercise, but one which specifically brings the private sector and public

infrastructure together in a comprehensive fashion. If successful, Canada could provide a new model on how to use freight and passenger transportation networks and data management to drive national economic development. All that remains to be seen are the results. LC

Estate Line of Business at TranSystems and as a senior manager in Ernst & Young’s Real Estate Advisory Services Group.

He may be reached at chris@ ic-associates.com or you may follow his tweets at @icanortham.

Notes:

Christopher Steele is global COO and the North American president of Investment Consulting Associates, a business consulting firm specializing in location strategy, site selection, industrial development, and business attraction. He previously served as president of the Real

i National Policy Framework for Strategic Gateways and Trade Corridors. Office of the Minister of Transport, 2009 ii Atlantic Gateway and Trade Corridor Strategy, 2010. Office of the Minister of Transport, 2010 iii http://www.asiapacificgateway.gc.ca/ apgci.html – accessed July 1, 2013 iv Ontario-Québec Continental Gateway and Trade Corridor Backgrounder. Transport Canada, the Ministry of Transportation of Ontario, and the Ministère des Transports du Québec v Presentation given by Transport Canada at the International Transport Forum, Leipzig, May 2012

INDEX MANITOBA

ONTARIO

CentrePort Canada C19 Located in Winnipeg, Manitoba — the heart of the continent and onehour north of the U.S. border — CentrePort Canada is a tri-modal (rail, truck, air cargo) inland port and foreign-trade zone that provides access to North American and global markets.

CentrePort offers a range of savings, including corporate income taxes that are 33 per cent lower than in the U.S.

Chatham-Kent Economic C17 Development Services Chatham-Kent businesses appreciate the skilled work force, the location to Canadian and U.S. markets, the low business operating costs, and the wide range of greenfield and turnkey properties. This single-tier, municipally governed community has taken an aggressive stance on attracting new investment by providing dedicated project managers to assist companies with their development plans.

Diane Gray, President and CEO CentrePort Canada Inc. 259 Portage Ave., Suite 100 Winnipeg, Manitoba R3B 2A9 204-784-1300 I Fax: 204-784-1308 Diane.Gray@CentrePortCanada.ca www.CentrePortCanada.ca

Economic Development C19 Winnipeg Inc. Economic Development Winnipeg Inc. (EDW) is the lead economic development agency for Winnipeg. EDW facilitates global investment promotion and attraction, local business retention and expansion, as well as targeted marketing initiatives to advance key industries and define future economic growth for the city of Winnipeg.

Greg Dandewich, Senior Vice President Economic Development Winnipeg Inc. (EDW) 259 Portage Avenue, Suite 300 Winnipeg, Manitoba R3B 2A9 204-954-1982 or 1997 I Fax: 204-942-4043 greg@economicdevelopmentwinnipeg.com www.economicdevelopmentwinnipeg.com

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Michael F. Burton, Director Chatham-Kent Economic Development Services 445 Grand Avenue West P.O. Box 944 Chatham, Ontario N7M 5L3 519-351-7700 I Fax: 519-351-7852 ckeds@chatham-kent.ca www.ckforbusiness.com www.chatham-kent.ca

City of Oshawa C10 Oshawa (population: 155,000) offers the right people and opportunities for sustainable business growth. Located only 60km from downtown Toronto, Oshawa is one of Canada’s fastest growing areas and connects companies with convenient access to the country’s largest consumer market.

Economic Development Services City of Oshawa 2nd Floor, Rundle Tower, City Hall 50 Centre Street South Oshawa, Ontario, L1H 3Z7 905-436-5617 I 1-800-6-OSHAWA (1-800-667-4292) business@oshawa.ca www.oshawa.ca/business

County of Simcoe C13 Ideally situated just north of the Greater Toronto Area, stretching from the shores of Lake Simcoe to Georgian Bay, Simcoe County’s combination of location, lifestyle, and opportunity makes it a great place to live and do business. The region’s diverse communities and natural amenities inspire residents and the business community.

Robert Lamb Manager, Economic Development County of Simcoe 1110 Hwy. # 26 Midhurst, Ontario L0L 1X0 705-726-9300 x1045 I Fax: 705-726-9832 robert.lamb@simcoe.ca www.simcoe.ca

City of Woodstock C2 Woodstock, Ontario, is centrally located in the heart of southern Ontario.

Situated at the crossroads of superhighways 401 and 403, we enjoy the best ground transportation system in the province. With our relaxed and affordable lifestyle you will see why your business belongs at the Crossroads!

Len Magyar, Development Commissioner City of Woodstock 500 Dundas Street P. O. Box 1539 Woodstock, ON N4S 0A7 519-539-2382 x 2112 I Fax: 519-539-3275 lmagyar@cityofwoodstock.ca www.cometothecrossroads.com www.cityofwoodstock.ca

QUEBEC Aéroports de Montréal C6, 7 Greater Montréal is among the rare places in the world where all the main components of an aircraft are manufactured within a 20-mile (30-kilometer) radius. Nearly two-thirds of Canadian production is centered here. More than 250 enterprises are located at ADM’s two airports, generating a grand total of 60,000 direct and indirect jobs.

Stephanie Lepage, Manager, Marketing Aéroports de Montréal 800 Place Leigh-Capreol Bureau 1000 Dorval, Quebec H4Y 0A5 514-392-7304 stephanie.lepage@admtl.com www.admtl.com