Brampton Starts New Strategy to Be Recognized in the Global Market
Brampton is about to go global!
On Wednesday (May 29) the City of Brampton's Economic Development and Culture office unveiled a new step-by-step plan to increase jobs and growth in Brampton by building stronger economic linkages around the globe.
The goal of the plan is to demonstrate to the world that Brampton is a city of opportunities.
The Foreign Direct Investment (FDI) strategy focuses on building the types of assets that attract investment and capitalizing on the City's existing strengths in numerous key economic sectors including advanced manufacturing, health and life sciences, and innovation and technology.
The FDI plan covers a number of geographic areas, from more economically similar markets like the US and Western Europe to even further goals with prospects in China.
In addition to its prime location near major transportation networks, the City has also been developing assets to attract new business.
Some examples are the new coworking space, the Cybersecure Catalyst and new post-secondary opportunities with Ryerson University, Algoma University and Sheridan College.
"Brampton will be positioning itself to strengthen its profile within the global marketplace with a robust and innovative brand strategy that will attract business, foreign investment and jobs,” said Regional Councillor Gurpreet S. Dhillon, the Chair of Economic Development. “We are excited to be making our mark in key industries on a competitive international level."
On May 28, the Economic Development and Culture Office hosted a breakfast with the Brampton Board of Trade to discuss the FDI approach and a new Ambassador Program.
A number of local business people are participating in this program as it aligns with the FDI strategy and empowers local businesses to bring Brampton's value proposition to their global partners.
"I'm very excited to be launching this strategy in Brampton,” said Mayor Patrick Brown. “It's an investment in the city's future. 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."
Brampton City Council approved an Operating Capital Budget of $1.875 million to be used to implement the FDI strategy and work plan earlier this year.
Now the Economic Development and Culture Office plans to develop a marketing campaign and source expert help to define the City's value to investors in today's FDI environment and develop an implementation plan for the strategy.
What do you think of the City’s strategic plans?
Photo courtesy of the City of Brampton.
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