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Ontario receives Site Selection Magazine’s Canadian Competitiveness Award for sixth time in seven years

Site Selection magazine, the leading publication in corporate real estate, facility planning, location analysis and foreign direct investment (FDI), has once again placed Ontario in the top spot in their 2022 Canadian Competitiveness Awards rankings.

Two major projects announced in Ontario, Canada, this summer epitomize what one might call northern composure—as in calm, serene and self-assured. As in poise and aplomb, or even the old sense of a well-composed, complete package.

The fact that they’re both in Ontario only accents the power of the province that this year earns Site Selection’s No. 1 ranking as the most competitive province in the nation.

– Adam Bruns, Site Selection Magazine

Site Selection Magazine refers to the two major projects: the $1.5B investment by Belgium-based Umicore for a manufacturing facility for cathode active battery materials and Sanofi’s announcement that it will open an Artificial Intelligence Centre of Excellence in Toronto.

But this is just a fraction of the latest investments. Ontario has secured nearly $16B in recent automotive investments, including $12.5B related to electric vehicles. This includes investments from Stellantis, Honda, General Motors, Ford and LG Energy Solution, in addition to the aforementioned Umicore project.

Ten Ontario regional and metro-area economic development groups appear on Canada’s Best Locations list

Ontario took 10 of the top 24 locations within Canada as part of the competitiveness rankings:

  • Advantage Brantford
  • Invest in Hamilton
  • Kingston Economic Development Corporation
  • London Economic Development Corporation
  • City of Mississauga Economic Development Office
  • Invest Oakville
  • Sarnia-Lambton Economic Partnership
  • Toronto Global
  • Waterloo EDC
  • Invest WindsorEssex

We extend our congratulations to these jurisdictions.

Ontario is one of the top locations for FDI in North America

If the above accolades weren’t strong enough, Ontario also ranks highly for FDI in North America, competing strongly against the United States. The fDi Intelligence 2022 report shows Ontario as tied for second in capital investment and fourth for number of projects. That’s quite an accomplishment when competing against large economies such as California, Texas and New York.

Ontario’s momentum shows no signs of slowing down

The world is taking notice of Ontario’s prowess in key sectors such as life sciences, information technology, automotive manufacturing and electric vehicle battery development. We encourage you to sign up for our newsletter to follow our journey as one of the world’s premier investment destinations.

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