MEDIA RELEASE
Contact: Linda Fegan, Director of Marketing and Communications Canada’s Technology Triangle Inc (519)747-2541 ext 404 (866) 233-5133 toll free, (519) 897-6515 cellular BlackBerry lfctt@region.waterloo.on.ca always connected on BlackBerry
For Immediate Release
Area Named in Foreign Direct Investment (fDi) Magazine’s Top Rankings for North American Cities of the Future
Canada’s Technology Triangle, Waterloo Region, May 8, 2007…Canada’s Technology Triangle has garnered a top 5 ranking among “Small Cities of the Future” in North America. Canada’s Technology Triangle Inc last night accepted the award in Boston on behalf of partners in the Waterloo Region and the cities of Cambridge, Kitchener and Waterloo. It’s the second consecutive year that Waterloo Region has fared well in fDi’s Cities of the Future rankings. The North American award reception was held in conjunction with Bio2007, the major event held by the Biotechnology Industry Organization (BIO) each year. The international conference has been part of investment attraction initiatives for CTT Inc and partners since 2003. Recognized in the “Top 10 Small Cities of the Future” category, Waterloo Region ranked 5th overall. The “Small Cities” category covers communities of 100,000 to 500,000 people. The area also achieved:
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2nd for “Best Human Resources” 2nd for “Quality of Life” 4th for “Best Infrastructure” 5th for “Best Development and Investment Promotion”.
Courtney Fingar, Editor, fDi Magazine, says there has been far greater take-up from North American cities to participate in the research rankings. “Waterloo impressed fDi's judges in several areas, particularly for the region's infrastructure, development and investment promotion, human resources and quality of life." fDi is the premier publication for the business of globalization and is produced by the renowned Financial Times group of London, UK. The judging panel represented public and private leaders from New York, Washington and Chicago, and included Steve Demmings, president, Site Selection Canada. The prestigious 2007/08 competition had entries from 108 cities across North America. Submissions were evaluated for economic potential, cost effectiveness, human resources, quality of life, infrastructure, business friendliness and FDI promotion strategy. This year, the competition was changed from the previous survey ranking for Canada and moved to a broader North American-wide ranking among locations in the United States, Mexico and Canada. The ranking is based on data submitted covering the Waterloo Region including the cities of Cambridge, Kitchener and Waterloo. John Tennant, CEO, Canada’s Technology Triangle Inc, says fDi’s report spotlights North American locations that firms that are expanding or locating should carefully evaluate. "Our Top 5 ranking is yet another independent indicator of the attractiveness of our Region to international business", according to Tennant. "The high ranking for Best Human Resources is a testimony to our outstanding postsecondary educational institutions and highly skilled talent pool. The community leadership should take pride and credit for Waterloo's high standings in terms of quality of life and infrastructure.” Last year, Canada’s Technology Triangle took the title of Canada’s “Most Cost Competitive” area and was also the location for fDi’s Global Personality of the Year Awards which honoured Ontario Premier Dalton McGuinty. It was the first time the esteemed awards celebrations were held in North America. The “Cities of the Future” competition is now in its fifth year.
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About Canada’s Technology Triangle Inc (CTT Inc) (www.techtriangle.com)
Canada’s Technology Triangle Inc is the not-for-profit, public-private regional economic development partnership marketing the Waterloo Region and the cities of Cambridge, Kitchener, and Waterloo to the world. Its mandate is to attract new businesses, investment and talent, while promoting regional economic growth. The organization works closely with the Economic Development Departments of its partner municipalities, member-based business organizations and the four post-secondary educational institutions. The area known as Canada’s Technology Triangle includes Waterloo Region, the cities of Cambridge, Kitchener and Waterloo, and the townships of North Dumfries, Wellesley, Wilmot and Woolwich. The area was named “most cost competitive” location in Canada in 2005/06 by fDi Magazine in the Cities of the Future Competition. For quick facts on Canada’s Technology Triangle go to http://www.techtriangle.com/UploadedFiles/CTT_Quick_Facts.pdf For information on the Biosciences and Technology sector in Canada’s Technology Triangle go to http://www.techtriangle.com/KeyIndustries/biotech.cfm
About fDi Magazine (www.fdimagazine.com)
In just five short years, fDi has established itself as the single most trusted sources of information on foreign direct investment. In 2007 we intend to carry on doing more of the same: investigating issues that concern foreign investors, talking to leading corporate executives and government leaders, and highlighting the many opportunities and risks that await investors around the world. Produced by the renowned Financial Times group, fDi is the premier publication for the business of globalisation, and is published on a bimonthly basis with an ABC-certified circulation of nearly 15,000. Our experienced journalists and foreign correspondents provide on-theground reporting of the issues and developments that corporate executives must consider when making investment decisions.