HomeMy WebLinkAboutCAO-16-029 - Waterloo Region Economic Development Corporation - German Mission
REPORT TO: Finance and Corporate Services Committee
DATE OF MEETING: October 3, 2016
SUBMITTED BY: Rod Regier, Executive Director of Economic Development
(519-741-2200) ext 7506
PREPARED BY: Brian Bennett, Manager Business Development
(519-741-2200 ext 7230)
WARD (S) INVOLVED: All
DATE OF REPORT: September 21, 2016
REPORT NO.: CAO-16-029
SUBJECT: Waterloo Region Economic Development Corporation German
Mission
______________________________________________________________________________
RECOMMENDATION:
That in accordance with Council Policy II-35 (Conference, Seminar and
Meeting Attendance and Expenses), that participation of Brian Bennett,
Manager Business Development, in the Waterloo Region Economic
Development Corporation’s Foreign German Aftercare Mission being held
in Germany, November 2016 be approved.
BACKGROUND:
Waterloo Region Economic Development Corporation (WREDC) represents the
Waterloo Region abroad to companies and professionals who are interested in the
North American market through investing in Waterloo Region. The City of
Kitchener is a funding and strategic partner of WREDC and works closely with
WREDC to attract and retain foreign investment in the Waterloo Region.
Council policy II-35 (Conference, Seminar and Meeting Attendance and Expenses)
requires Council’s approval for a member of staff to attend a conference/trade
mission outside of Canada and the United States.
*** This information is available in accessible formats upon request. ***
Please call 519-741-2345 or TTY 1-866-969-9994 for assistance.
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REPORT:
WREDC has established a foreign aftercare mission program for November 2016,
with the participation of the Cities of Kitchener, Waterloo and Cambridge and their
respective Mayors including Mayor Vrbanovic.
The purpose of the mission is to build on relationships that lead to increased
foreign direct investment in Waterloo Region. German investments account for
10% of all foreign investment in Waterloo Region. We have identified 3 German
companies located in Kitchener that are considering expanding locally which would
lead to new/expanded facilities and growth in employment.We will be meeting
with key executives at the German headquarters to review these opportunities and
favourably influence their investment decisions.
We will also be meeting with Canadian federal and provincial in-market trade
commissioners who are influential in attracting German investment to Ontario, as
well as economic development officials from the Region of Stuttgart a strong
manufacturing centre in Germany.
To prepare for the mission a series of meetings are being held with the local office
of each of the Companies to be visited. These meetings provide a current overview
of the Company’s business operations, potential for expansion and set the stage
for the meeting with their German leadership.
ALIGNMENT WITH CITY OF KITCHENER STRATEGIC PLAN:
Support to WREDC is identified as a priority in the Make it Kitchener Economic
Development Strategy and has been identified in Economic Development Division’s
Business Plan for 2016.
FINANCIAL IMPLICATIONS:
The estimated cost for this mission is $4,200 with the funds included in the 2016
Economic Development budget.
COMMUNITY ENGAGEMENT:
Economic development stakeholders were extensively consulted in the formation
of “Make it Kitchener”.
INFORM – This report has been posted to the City’s website with the agenda in
advance of the council/committee meeting.
ACKNOWLEDGED BY: Jeff Willmer, CAO
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