Each year fDI intelligence, a Financial Times publication, releases an annual American Cities of the Future report. In this years report, 16 Ontario based municipalities were named Cities of the Future, including Niagara Falls and Hamilton. Toronto was the most triumphant Ontario municipality, placing 6th in overall American Cities of the Future for 2015/16.
The report ranked 421 North and South American locations under the following categories: business friendliness, economic potential, human capital and lifestyle, connectivity,cost-effectiveness and fDI strategy.
Niagara Falls, a cost effective city
Niagara Falls was recognized as the sixth most cost effective city in North America in the micro city category (populations below 100,000). Other ranking Canadian cities included Red Deer, Alberta (4), Nanaimo, British Columbia (5) and Brantford, Ontario (8).
A release by Invest in Ontario, explains the reasoning behind Niagara Falls' ranking:
"Bordering New York State, where $62 billion of trade crosses between Canada and the United States annually, Niagara Falls is best known as a world-renowned tourism brand. But the city's attractiveness goes beyond its famous scenery; global innovators are drawn to a variety of investment opportunities in advanced manufacturing, food and wine processing, professional services and digital media." (source)
Hamilton, Ontario's fastest growing economy
Hamilton, considered a mid-sized American city, ranked 4th in connectivity and 10th in FDI (foreign direct investment) strategy. Over the past few years Hamilton has generated billions in economic activity and investment, with a clear investment attraction strategy and a plethora of greenfield lands it's no wonder the city has emerged as Ontario's fastest growing economy.
Hamilton's rankings as explained by Invest in Ontario:
"According to the Conference Board of Canada, Hamilton is Canada's most diversified and Ontario's fastest growing economy. The city is a national manufacturing hub, with burgeoning life sciences and food processing sectors." (source)
This marks the second year that Ontario has emerged as a North American leader in attracting foreign investment, with $7.1 billion US. The continued recognization for increased foreign direct investment in local Ontario municipalites brings more confidence to the area on a global scale. To learn more about Niagara Falls and Hamilton's recognization as Cities of the Future download the fDI report click here.
