The latest investment by the Canadian government into a local business may produce hundreds of jobs and bring new companies to the region.
The Waterloo Region Corporation of Economic Development shortly known as Waterloo EDC, which serves as the first point of contact for businesses looking to develop in the region, received a $3-million grant on Jun 27 from Waterloo MP Bardish Chagger, on behalf of Federal Development Ontario.
Chagger states the investment will assist in bringing more international investments to our community. She tells this investment is crucial because it encourages many sectors in the economy.
She adds this investment will support export essential programs, products, and services, allowing all firms to grow. It will not only deliver organizations in Canada and Waterloo Region the advantage of attracting and being observed in different markets, global markets, but it will also permit international investment to come to the Waterloo Region.
Waterloo EDC President and CEO, Tony La Mantia, tells the new investment opens up all sorts of current opportunities. If you have a company in Waterloo Region that has a sales equal to 110-million, and you’d like to improve the too small market in Canada, so you require to be concentrated on the global market.
He states as a consequence of the investment, up to 8 new investments will be brought to the region with a cumulative value of $40-million and produce more than 275 jobs for Ontario Southern region.
It enables us to produce more of what we now do with our core market, but then again, to support local businesses focus outward, whether it’s getting an agent, a joint-venture partner, a distributor, or a new global customer.
He also states this is the first time that the Waterloo Region Corporation of Economic Development has got such a vast federal contribution.
We have only had one funding source for the past three years, and that’s our municipal partners. So the Waterloo Region, the cities are three, townships are four, give us $2-million to be the primary point of contact for investment marketing.
The Waterloo Region Corporation of Economic Development is a non-profit that runs with businesses who are attending to bring their company to the Waterloo Region.
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