Location: Fredericton, New Brunswick
As the community’s economic development agency, Ignite Fredericton is focused on business growth and attraction, population growth (through student retention, immigration, repatriation), and various strategic initiatives to strengthen entrepreneurial ecosystem. Ignite Fredericton sought to engage in foreign direct investment (FDI) in a more targeted and focused way.
The agency engaged Stiletto to conduct a review of key sectors in the Fredericton region and evaluate geographical markets and target audiences for an FDI strategy.
Stiletto’s approach was three-fold:
- A detailed review of potential target geographical locations was created, as well as recommendations for target sectors, with potential opportunities in select markets.
- A competitor analysis was produced to demonstrate how Fredericton compares with other regions.
- A foreign investment strategy was completed, with specific recommendations to globally promote Fredericton as an investment-ready community.
Ignite Fredericton implemented the strategy, using it as the basis to create a series of FDI marketing tools. This approach has helped identify, support and close new investment opportunities for the region, resulting in capital formation, job creation and increased tax revenues for the municipality.
In addition, the agency ranked number one for FDI strategy in the micro city category in fDi Magazine’s 2017/2018 American Cities of the Future publication.
Because of Stiletto’s work, we have a more refined foreign direct investment strategy with a sector focus. We certainly have more focus and more direct sight of the opportunities. Stiletto reduced our time-to-market by at least a year, which subsequently reduces our time to signing and winning a project related to this work.
CEO | Ignite Fredericton and Knowledge Park