Ontario Continues to be a Top Destination for Foreign Direct Investment in North America
New Report Shows Province Outperforms Competitors Again
Ontario is the North American leader in attracting foreign capital investment for the second straight year, according to a new report published this week.
The report by fDi Intelligence, a division of the Financial Times Limited, shows that Ontario continues to attract more foreign capital investment than its state and provincial counterparts.
Ontario outperformed U.S. states and other Canadian provinces in 2014 in several key areas, including:
- Leading for the second year in a row for foreign capital investment, receiving US $7.1 billion.
- Moving up two places to rank third when it comes to foreign direct investment (FDI) job creation, with 13,055 jobs; up 6,102 jobs over 2013.
- Ranking first for foreign capital investment in the automotive and life sciences sectors.
- Ranking second for the number of FDI jobs in the financial services sector.
Ensuring the province is the best place to invest in North America is part of the government's plan to build Ontario up. The four-part plan includes investing in people's talents and skills, making the largest investment in public infrastructure in Ontario's history, creating a dynamic, innovative environment where business thrives, and building a secure retirement savings plan.
- The data from this report is used as a primary reference for greenfield investments — first time investments in new jurisdictions — by the World Bank, as well as governments and corporations around the world.
- fDi Intelligence provides insights on foreign direct investment activity. It is the most authoritative source of intelligence on real investment in the global economy, and the only source of greenfield investment data that covers all countries and industries worldwide.
“I am very pleased to see Ontario continually outperform larger jurisdictions across North America when it comes to attracting foreign direct investment. Our government has demonstrated a true willingness to showcase the benefits of investing in our province, and to strategically partnering with business and other jurisdictions to increase our competitiveness. Ontario is one of the best places in the world to invest in, and we will keep working hard to grow our economy, break down trade barriers, and create good jobs across the province.”