It is my pleasure to address you today to give the support of the Consider Canada City Alliance to the Invest in Canada Act and its implementation. My name is Michael Darch. I am the president of the Consider Canada City Alliance. With me is Blair Patacairk, who is the chair of our government relations committee, as well as the managing director for investment and trade here at Invest Ottawa.
I intend to address three points today: the support of the CCCA and its members for the investment hub to be established by Bill C-44, the benefits and relationships that would be established between our members and the hub, and activity already under way to ensure that the economic opportunities presented by the establishment of the hub are quickly and effectively achieved.
First, I will give you a short introduction to the CCCA. Seven of Canada's large cities came together in Calgary in 2007 to explore common challenges in attracting foreign investment to Canada. That collaboration continued with the invest in Canada bureau within Foreign Affairs. In 2012, we incorporated as a not-for-profit organization. Today, the CCCA includes 13 of Canada's largest municipal investment promotion agencies, stretching from Halifax to Vancouver. Together, the economic influence zones of the members encompass all or part of 14 of Canada's census metropolitan areas that represent 59.6% of Canada's population, 65.1% of Canada's GDP, and 83.4 % of Canada's GDP growth between 2011 and 2016.
The mission of the Consider Canada City Alliance is to contribute to a sustainable and globally competitive national economy built on the collective strength of the ecosystems in each member region.
The members of the CCCA were therefore delighted with the announcement in the fall economic statement in 2016 of the intent to create the invest in Canada hub. The members of the CCCA view the creation of the hub as a significant commitment by the Government of Canada to the importance of foreign direct investment as a generator of wealth and to the creation of jobs across all demographics. It will be an essential stimulant to the innovation economy in Canada. The proposed invest in Canada act contained in Bill C-44 translates that intent into reality.
The members of the CCCA welcome the opportunity to contribute to the success of the investment hub and to assist in optimizing the overall effectiveness of both the hub and municipal efforts to attract investors to Canada. We do not minimize the complexity and challenge of the endeavour to create the hub. We would offer whatever assistance we can to ensure the success of the project.
We agree with the following assertion in the fall economic statement:
Around the world, leading companies are looking for stable places to invest and grow their businesses. Smart countries are mobilizing to take advantage of the opportunities and jobs that go hand in hand with global investment. Canada cannot afford to be left behind.
We look forward to the hub's becoming the single window for investors looking to invest in Canada. It is our hope that the hub will become the single access point for municipalities to the Canadian government for matters relating to investment attraction.
Therefore, it is our aspiration that the hub would have the capacity to assist, advise, and champion on matters such as immigration policy and processes, federal incentive programs, federal economic development strategies, policies with respect to investment promotion, the development and marketing of the Canada brand, and lead generation and client servicing.
Similarly, the municipalities will ensure that each designates a contact for the hub on matters related to investment attraction matters within their jurisdiction. Furthermore, should the decision be made to place hub officers in locations across Canada, we strongly recommend that the officer be co-located with our respective member.
Finally, we would welcome the role of the hub in coordinating team Canada missions in support of trade and investment.
It is our hope that the operating relationship be founded on the principles of collaboration, complementarity, and consistency.
Already the CCCA and its members are working to make the hub a success. Each member already has a concierge service for incoming and existing foreign investors, which will be available to the hub. A close working relationship has been established with the hub implementation team, and meetings are held regularly. All members participated in the KPMG outreach, led by the Privy Council Office, on attracting foreign direct investment to Canada. All members have been invited to be referral partners for the new, dedicated service channel being established by Immigration, Refugees and Citizenship Canada. The CCCA chair participated in a deputy minister level consultation round table on the development of the hub. We are working with the Trade Commissioner Service to ensure that the 15 new investment officers expected to be hired this year under the hub program are fully aware of the services, capabilities, and value propositions represented by each of our members.
In summary, the CCCA, one, fully supports the invest in Canada hub and the legislation contained in Bill C-44 to bring it to reality; two, is fully committed to the economic advantages to be gained by Canada through the provision of a single service window for foreign investors, which integrates the resources of all levels of government; and three, is actively working with the hub implementation team and its federal partners to ensure that Canada reaps the maximum economic benefit from the global opportunities available today.
I thank you for your time. I look forward to any questions you may have.