On Wednesday, May 29, the city of Brampton’s Economic Development and Culture Office revealed its plan to increase jobs and growth in the city in order to build strong economic linkages around the world.
The goal is to show the world that Brampton is a city of opportunities. Brampton’s Federal Direct Investment (FDI) strategy focuses on ways to build assets that attract investment and capitalize on existing strengths in several key economic sectors such as Advanced Manufacturing, Health & Life Sciences, and Innovation & Technology.
Brampton’s FDI plan is diversified across several geographic areas, from economic markets like the US and Western Europe to longer-term future prospects as China.
In addition, Brampton also has its own story to share with the rest of the world. With the city itself being located around major transportation networks, it is currently developing new ways to attract business such as the new Brampton Entrepreneur Centre-run coworking space, Ryerson’s Cybersecure Catalyst, and other post-secondary opportunities with Ryerson University, Algoma University, and Sheridan College.
On May 28, the Economic Development and Culture Office hosted a business breakfast with the Brampton Board of Trade to talk about the FDI approach and a new ambassador program.
Earlier this year, Brampton City Council approved an Ontario Capital Budget of up to $ 1.875 million to put the FDI strategy and work plan into effect. The next step will be for the Economic Development and Culture Office to come up with a marketing campaign and source expert help to define Brampton’s value to investors in today’s FDI environment and develop an implementation plan for the strategy.
“I’m very excited to be launching this strategy in Brampton. It’s an investment in the city’s future,” says Brampton Mayor Patrick Brown. “We want the top industries to know that when they choose Brampton to develop, expand and invest that they will be met with highly skilled talent, competitive advantages and access to the global market place.”