Readers of this site might think that business and investment between Canada and the U.S. is a one-way street. Although my focus has typically been on Canadian businesses and investors expanding into the United States, it should be noted that significant traffic is moving north of the border into Canada also. This is most visible in the "big box" retailers in the U.S. moving into Canada such as Walmart and BestBuy. Sears buyout of Eatons, a Canadian landmark, is another very visible northbound transaction. Starbucks, based is Seattle, is quickly spreading across Canada. I am starting to feel like I did in the States with Starbucks on every corner, sometimes two on a corner. Within one year of moving into our house there have been two Starbucks built near our house. The newest is only about four blocks away.
In addition to these very visible transactions, there is significant movement in the technology and biotechnology sector. Leading Edge British Columbia is a non-profit organization dedicated to the promotion of British Columbia as a technology destination. Leading Edge B.C. has recently announced two U.S. tech companies moving into B.C. Urigen, Inc.pulled out of California in favour of B.C. in October. FSM Labs, a software company based in New Mexico, opened an international sales office in Vancouver also in October.
It is interesting to see economic development groups in the U.S. marketing to Canadian companies promoting the expansion of their business into the U.S. And Canadian economic development groups, such as LeadingEdge B.C. marketing to U.S. based companies, promoting Canada as an attractive location for their tech business. CrossBorder business and investment is truly a two-way street.
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