Town awarded foreign investment grant

A recent application to the government of Canada by the Town of Ponoka has resulted in a grant of $5,000.

  • Nov. 28, 2012 11:00 a.m.

A recent application to the government of Canada by the Town of Ponoka has resulted in a grant of $5,000.

Wetaskiwin MP Blaine Calkins announced both Ponoka and the Leduc- Nisku Economic Development Authority have received funding to help attract, retain and expand foreign direct investment in their communities. It was announced on behalf of Ed Fast, minister of international trade and minister for the Asia-Pacific Gateway.

“Our government is focused on what matters most to Canadians: jobs, growth and long-term prosperity,” said Fast in a press release. “Attracting foreign investment is key to these efforts and our government will continue to take steps to ensure Canada remains an investment destination of choice. From the lowest overall tax rate on new business investment in the G-7, to what the World Economic Forum has been saying for the past five years, Canada is the world’s soundest banking system, 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 our communities.”

Calkins said the funding is part of a broader agenda to expand global trade for Canada.

“Both the federal government and the municipalities share the objective of bringing new investment to communities across Canada. That is why we are proud to support our communities who are seeking further investment. In these globally challenging times, we will continue to support initiatives that help bring jobs and prosperity to the people in the riding of Wetaskiwin,” explained Calkins in the same release.

The funding, which was nationally announced in October, is provided under the Invest Canada-Community Initiatives (ICCI) program to help communities, organizations and economic development agencies across the country.

Sarah Olson, economic development officer for the Town of Ponoka, said the project was applied for in November, 2011 and it helps Ponoka become investment ready with a data development strategy. It is the first phase in a project to ensure there is a central repository with up-to-date information on Ponoka.

It allows the town to develop the data, tools and resources required to attract investors and support local business. Ponoka will also develop the content necessary for site selectors and investors in the economic development portions of the website Information will support development of a community profile for the businesses both current and in the future.

This initial project is near completion and receipts must be sent in by Dec. 31 for the Town of Ponoka to receive reimbursement of the work done so far.


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