MALONEY PROVIDES FEDERAL FUNDING TO FORT ERIE US INVESTMENT STUDY
August 16, 2002 – John Maloney, M.P. for Erie-Lincoln is pleased to announce a federal contribution of $36,000 to the Fort Erie Economic Development & Tourism Corporation (EDTC) for its study on American investment in the Fort Erie area.
The EDTC recently identified some key municipal indicators illustrating the social and economic importance of the Town’s relationship with Buffalo and Western New York. As a result, the EDTC developed a “U.S. Investment in Fort Erie” Study. During the summer months, over 1000 American households in Fort Erie will be interviewed by EDTC researchers. Results from the study are expected to be presented in late fall.
The goals of the study are:
• to examine historical and contemporary U.S. investment patterns and trends within the Town of Fort Erie;
• to provide a medium through which American residents and investors can forward questions, express concerns, or make comments regarding their investment and residence in Fort Erie; and,
• to identify potential industrial, commercial and social partnerships between Fort Erie stakeholders and U.S. investment and residential interests.
"The Government of Canada appreciates that gathering this information contributes to the goal of understanding the American investment pool," said John Maloney, M.P. for Erie-Lincoln. "The results of this will help our economic development officials get a handle on current investment with an eye to creating more. I would certainly encourage people who are approached by the EDTC to participate in this very important research project."
“Ten thousand seasonal American residents live in Fort Erie,” explained Town of Fort Erie Mayor Wayne Redekop. “It’s important that we understand this impact on our local economy.”
Jim Thibert, General Manager for the EDTC stated, “Fort Erie is truly a bi-national community. We share our economies, our social life and have worked hand-in-hand in commerce. When it comes to business development nothing has such a profound influence on our economy as the relationship between Fort Erie and Buffalo.”
The funding announced today comes from the Program for Export Market Development Investment (PEMD-I) that is jointly administered by Industry Canada and the Department of Foreign Affairs and International Trade. PEMD-I is intended to increase total Canadian employment, help Canadian communities become more effective in dealing with foreign direct investment and to support foreign investment promotion initiatives.
Elizabeth Curtin , Jim Thibert,
Office of John Maloney, M.P. Fort Erie EDTC