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Innovation & Job News

Ontario the top destination for foreign capital for the second year in a row

For the second year in a row, Ontario has earned the top spot as one of the leading destinations for foreign investment in North America. 

That's according to a new report from fDi Intelligence, a division of the UK-based business publication the Financial Times. fDi says that foreign bodies invested some $7.1-billion into the province, which helped create 13,055 jobs. 

The province beat out larger, more populous states like California, Texas and South Carolina—which received $6.4-billion, $3.7-billion and $3.5-billion, respectively—to take the top spot. 

According to the report, the majority of foreign investment into Ontario came from the United States, United Kingdom and Germany. Moreover, the top three sectors to receive capital were business services, software and information technology, and financial services. 

"Our government has demonstrated a true willingness to showcase the benefits of investing in our province, and to strategically partnering with business and other jurisdictions to increase our competitiveness," said Brad Duguid, Ontario's Minister of Economic Development, Employment and Infrastructure, in a statement issued to Yonge Street on the report. "Ontario is one of the best places in the world to invest in, and we will keep working hard to grow our economy, break down trade barriers, and create good jobs across the province.”
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