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GLOBALOUTLOOK TIER 2 CITIES OF THE FUTURE 2020/21


FDI Strategy G


A MORE DETAILED LOOK AT OUR JUDGES’ TOP LOCATIONS FOR FDI STRATEGY. NAOMI DAVIES REPORTS


reater Montreal, which is sec- ond overall in the Tier 2 Cities of the Future 2020/21 rank-


ing, claims first place in the FDI strategy category, and Montréal International (MI), the metropolitan area’s economic promotion agency, had a record-breaking year in 2019. Not only did Quebec’s largest city enjoy the strongest economic growth of all Canadian cities, but it also witnessed a marked increase in foreign investment. MI supported 89 foreign compa-


nies to set up or expand in the region, representing record invest- ments of C$2.64bn ($1.98bn), up 164% since 2015. Every week during 2019, at least one foreign company chose to establish operations in Greater Montreal – creating more than 7000 direct jobs and maintain- ing about 350.


Targeting locations MI’s strategy involves targeting prior- ity regions across the US, Europe and Asia and strategic sectors such as video games, artificial intelligence and life sciences. Its talent team helps bolster the


Greater Montreal talent pool by facili- tating international recruitment, making the immigration process easier and helping attract and retain international students. MI has coordinated more than 50


digital marketing campaigns to pro- mote the city, and overhauled its websites in May 2019 to ensure an immersive experience for potential investors, international organisa- tions, entrepreneurs, talent and stu- dents across the globe. Part of the agency’s strategic plan is to double FDI results in the next five years.


Sustainable operations Lyon in France is second in the FDI strategy category. The 40-strong Invest in Lyon staff consists of an FDI teamof 33 and seven in itsONLYLYON territorial marketing programme. The FDI team’s annual objective is to support and assist more than 100 new companies to establish sustaina- ble and significant operations in the local area, with the aim of creating 2000 direct jobs within three years. As the promotion agency for a


non-capital city, Invest in Lyon has had to hone its investment strategy


TOP10 FDI STRATEGY RANK CITY


1 2 3 4 5 6 7 8 9


COUNTRY


GreaterMontreal Canada Lyon Perth


France Australia Basel Area


Katowice Cork City Plovdiv


10 Barranquilla Switzerland


City of Yokohama Japan Bilbao


Spain


Poland Ireland Bulgaria


Colombia


in order tocompete withitsEuropean peers. The agency is focused on 12 pri- ority fields including energy, smart manufacturing and logistics, and supported by Lyon’s research and development operations, industry clusters, community experts and partnerships with economic players. Investors benefit from France’s


attractive tax incentive programme and further financial incentives are also available on a local level. In close collaboration withInvest in Lyon, the regional governmentsupports invest- ment projects with industrial facili- ties granting subsidies of up to 30 %


of eligible expenditures, witha cap of €490,000 ($574,722).


Boosting growth Perth ranks third, with its local gov- ernment authority, the City of Perth, playing a crucial role in bolstering economic growth in the Western Australian state capital. TheCity of Perth,andmorespecifi-


cally theEconomicDevelopmentUnit, helps promote Perth’s competitive advantages as well as facilitating engagement opportunities with industry-specific and government stakeholders, and attracting invest- ment from interested parties on a local, nationalandinternational scale. Through its network of 11 sister


Strong performer: Perth’s Economic Development Unit impressed the judges 30


cities and 19 member cities of the World Energy Cities Partnership, the team is also able to leverage relation- ships to promote FDI opportunities to numerous international stake- holders.■


www.fDiIntelligence.com August/September 2020


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