canadiangermannews_htsq22 
Nestled in the heart of the North American continent lies the awe-inspiring natural wonder that is Niagara Falls. Beyond its breathtaking beauty and the thunderous roar of cascading water, the Niagara Region presents a wealth of opportunities for economic growth and development. Thanks to its strategic location and boundless potential, this area has increasingly attracted the attention of both German and other foreign investors. In this article, we will explore the dynamic landscape of European investments in the Niagara Region, unveiling the remarkable initiatives and projects that are transforming this iconic destination into a thriving hub of cross-continental collaboration. And some of the resources that help along the way.
Austria: Palfinger North America
Palfinger North America, a subsidiary of the esteemed Austrian-based Palfinger Group, brings a rich legacy of precision engineering and cutting-edge technology from Austria to the shores of North America. Specializing in lifting solutions and material handling equipment, Palfinger North America has solidified its position as a leading player in the region, committed to providing innovative solutions that elevate various industries.
Germany: A Multifaceted Presence
German companies have left an indelible mark on the Niagara Region of Ontario, Canada, across diverse sectors. Bosch Rexroth Canada Corp., based in Welland, specializes in hydraulic equipment, contributing to the region’s industrial development. Meanwhile, Lincoln-based Cosella-Dorken Products Inc. excels in the production of plastic products, showcasing Germany’s manufacturing excellence. In Fort Erie, DB Schenker of Canada offers top-notch customs and logistics services, facilitating international trade. Haver and Boecker Canada, situated in St. Catharines, is renowned for its mining equipment, bolstering the region’s mining industry. Additionally, Hydac Corporation in Welland focuses on hydraulic equipment, and Ophardt Hygiene in Lincoln specializes in soap and sanitizing dispensers, promoting hygiene solutions. Furthermore, St. Catharines is home to PlanET Biogas Solutions Inc., leading the way in biogas plant design and construction, contributing to sustainable energy practices in the region. These German companies collectively represent the diversity and vitality of the Niagara Region’s business landscape.
Switzerland: A Tapestry of Businesses
Alongside the significant presence of German enterprises, Swiss companies have also made a remarkable impact on the Niagara Region, further emphasizing the region’s international appeal. Atlantic Biodiesel in Welland specializes in biodiesel processing, contributing to the region’s sustainable energy initiatives. Lincoln-based Dufferin Concrete plays a pivotal role in the production of concrete products, enhancing the region’s construction and infrastructure capabilities. In Port Colborne, Jungbunzlauer engages in the production of chemical products, diversifying the region’s industrial landscape. Fort Erie is home to Kuehne Nagel Ltd., a recognized leader in customs and logistics, ensuring the smooth flow of goods in and out of the region and cementing its status as a global business hub. These Swiss enterprises exemplify the Niagara Region’s appeal to a diverse array of international companies, underscoring its dynamic and inclusive business ecosystem.
In the midst of these international collaborations and contributions, we must acknowledge the role of the Niagara Economic Development Company (NEDC) and the Canada-European Union Comprehensive Economic and Trade Agreement (CETA) in fostering the region’s economic growth and facilitating global engagement. The NEDC serves as a vital catalyst for economic expansion, supporting a wide range of industries and nurturing a culture of innovation. Meanwhile, CETA has set new standards for international trade, enhancing Canada’s global competitiveness and furthering its economic prosperity.
As we reflect on the convergence of international vision and local potential in the Niagara Region, it is evident that this scenic locale not only captivates with its natural wonders but also thrives as a hub of economic opportunity and collaboration. The future holds promise as the Niagara Region continues to evolve and flourish, thanks to the collective efforts of both local and international partners. Stay tuned for more exciting stories of international engagement and economic development right here at Canadian German News.
@https://www.boschrexroth.com/en/ca/
In addition to the impressive array of international investments in the Niagara Region, it’s worth noting a valuable resource for German companies seeking to establish a foothold in Canada. An insightful article authored by Alessandro Perri and Lukas Kirstgen, titled “Errors German Companies Make When Setting Up in Canada,” provides a wealth of guidance and knowledge for companies embarking on this journey. Their in-depth analysis, available at this link, outlines common pitfalls and offers strategies to navigate the Canadian business landscape effectively. This article serves as a roadmap for German enterprises, helping them avoid potential challenges and ensuring a smoother and more successful transition into the Canadian market.
- Niagara Economic Development
In the heart of Ontario, the Niagara Economic Development Company (NEDC) stands as a beacon of progress and prosperity, dedicated to shaping the economic landscape of this picturesque Canadian region. Established with a vision to foster growth, innovation, and opportunity, the NEDC plays a pivotal role in empowering businesses and communities throughout the Niagara Region. This article delves into the vital role and significant impact of the NEDC, shedding light on the organization’s mission, initiatives, and its commitment to driving economic development in this breathtaking part of Canada, especially as it pertains to Austrian, German & Swiss companies.
Niagara Foreign Trade Zone
Niagara’s designation as a Canadian Foreign Trade Zone Point offers businesses the opportunity to work with a dedicated team of public and private sector experts to access information, programs and incentives that have been specifically developed to help companies initiate and improve their international trade efforts. By working with the Niagara Foreign Trade Zone, companies and suppliers that are involved in the production of products for final export to other countries can find and apply for tax, duty and tariff exemptions that can significantly improve their bottom line.
2. Why CETA Matters
CETA represents the best in international trade agreements. CETA sets new standards for trade in goods and services, non-tariff barriers, investment, government procurement, and other areas like labour and the environment. The EU is one of the largest economies in the world and Canada’s second-largest trading partner after the United States. It is also the world’s second-largest importing market for goods. The EU’s annual imports alone are worth more than Canada’s GDP. By opening new markets in the EU to Canadian exporters, CETA gives us a competitive advantage in the global market, which benefits all Canadians.
Please learn more here: https://www.international.gc.ca/trade-commerce/trade-agreements-accords-commerciaux/agr-acc/ceta-aecg/ceta_explained-aecg_apercu.aspx?lang=eng
Priority industries for Foreign Direct Investment (FDI) in Canada
Industries must adapt and often undergo significant transformation to keep up in a rapidly changing world. This need for innovation occurs in all economic sectors across Canada. By supporting growth and innovation, foreign direct investment (FDI) plays a central role in Canadian communities from coast to coast to coast.
As Canada’s investment attraction and promotion agency, Invest in Canada seeks to attract the best investments by working with global companies to expand to Canada and help create a better, more prosperous future for Canadians.
Here are some of FDI’s priorities when it comes to spending money.
Funding innovative green technologies
Already, a string of announcements by major international players is paving the way to a brand-new green industry. This includes an investment by Korea-based LG Energy Solution in a joint venture with Netherlands-based auto manufacturer Stellantis to build a major electric vehicle battery manufacturing facility in Windsor.
In July 2022, Belgium-based Umicore announced a $1.5 billion investment in an EV battery facility in Loyalist, Ontario. Located just west of Kingston, the plant will produce the vital EV battery materials critical to Canada’s increasingly significant role in the EV revolution. German Volkswagen company is investing $7 billion to establish its first overseas electric vehicle battery manufacturing plant in St. Thomas, Ontario in 2023.
Growing Canada’s agriculture legacy
When it comes to agriculture, Canada has a long, rich tradition – from British Columbia wines to Prairie pulses and Atlantic lobster. To build on this heritage, forward-looking investments in food and ag-tech are crucial to meet the world’s growing need for sustainable food alternatives.
There’s a new major player coming to Niagara-on-the-Lake, and he’s dropping anchor in one of the most coveted postal codes in the region.
Founder and CEO of the Mark Anthony Group, Anthony von Mandl, has staked new ground with a significant purchase of prized vineyards nestled between Status Vineyards and the Jackson-Triggs Winery with frontage on Niagara Stone Road. Von Mandl bought over 70 acres of key vineyards from Ray Duc, the owner of Forrer Farms Inc., a family-run business that has been growing grapes and tender fruit in Niagara-on- the-Lake since 1960.
Making advances in life sciences and biotechnology
Canada’s recognized life sciences industry provides stimulating, well-paid jobs, and includes world-class research institutions, business incubators and healthcare institutions. That’s thanks in part to global companies that have invested more than $4.8 billion into the industry since 2017. Switzerland-based Roche invested $500 million in 2020 to establish a global technical operations site. France-based Sanofi invested more than $800 million in a vaccine manufacturing facility in 2021.
Want to learn more: FDI 101 – What is FDI? and FDI 101 – How collaboration propels FDI into Canada.