2018-19 Departmental results report
Minister's Message
Improving economic opportunity and security for Canadians is a shared mandate at the core of all levels of government. Increasing and diversifying trade and attracting job-creating investment to Canada are key pillars to spurring economic growth and broad-based prosperity for all Canadians, and this is why Invest in Canada exists.
As Canada’s Minister of Small Business, Export Promotion and International Trade, it is my job to help Canadian businesses grow and give them a competitive edge to access the customers and opportunities available in the global marketplace.
For nearly two years, Invest in Canada has worked with the Trade Commissioner Service, as well as provincial, territorial, and municipal governments to identify opportunities and remove potential barriers to foreign direct investment.
It is because of this important work, as well as access to high-quality workforce, our reliable banking system, political stability, and transportation infrastructure that companies from around the world are drawn to invest in Canada.
By offering investors a one-stop shop to access programs and services that enable them to ‘launch in the right location, with the right people, and the right resources’, Invest in Canada is accelerating the decision-making process for businesses, bringing job creating investments to communities from coast to coast to coast.
As the Minister responsible for working with Invest in Canada, ensuring that our Canadian business ecosystem is thriving and competitive, I am pleased with the work of this organization and I look forward to our progress as we continue to work together, attracting more talent and investment from around the world, creating more good jobs for hardworking Canadians.
It is my pleasure to present Invest in Canada’s 2018-19 Departmental Results Report, which presents a summary of the results achieved based on the initial plans and priorities outlined for the year.
The Honourable Mary Ng
Minister of Small Business, Export Promotion and Internation Trade
Chairperson's Message
As a long-time entrepreneur and investor, I know the hurdles that companies can face when trying to set up or expand a business in a new market. Invest in Canada helps to surmount those hurdles, bringing together industry, community partners, and all levels of government to provide a seamless service for business expansion and in Canada.
As a nation, Canada combines the best mix of what is important to foreign investors: a resilient, values-based economy; a diverse, skilled and well-educated workforce; accessible programs to enhance and boost innovation; expansive infrastructure; a stable political landscape; and access to large and growing markets.
I have been impressed by the strides made by Invest in Canada in its short existence. Since its formation in 2018, the team has worked hard to hone in on where the investments are coming from, which sectors they are going to, projecting what areas the global capital flows are looking at, and aligning our services and messages accordingly.
Invest in Canada is establishing itself as a leader in promoting, facilitating and accelerating foreign direct investment in Canada. Championing the Canadian business advantage and advancing our country’s capacity to compete amongst the best-in-class on the global stage.
Mitch Garber
Chair of the Board of Directors
Chief Executive Officer’s Message
Canada’s brand is stronger than ever. There has never been a better time to promote our country as a premier investment destination.
Invest in Canada is dedicated to leveraging Canada’s global brand by providing clarity, guidance and resources to the world’s investment community on the Canadian investment advantage - an unparalleled destination where investors can increase profits, reduce risk and invest with ease.
As a result, global investors are paying attention. In 2018, at a time when foreign direct investment (FDI) into developed economies dropped as much as 40%, FDI into Canada increased 70%.
Several policy initiatives have given Canada a competitive advantage, including the Strategic Innovation Fund, the Global Skills Strategy, and the Supercluster Initiative. As well, Canada’s impressive global free trade footprint – trade deals with 51 countries accessing a global consumer market of over 1.5 billion people – is making Canada a truly global hub for trade and investment. Global investors have responded – over the past year, Canada has seen more investment capital, through more deals, from more countries into more sectors of our economy.
Invest in Canada was created to tackle three distinct challenges: to increase the flow of global investment capital; to highlight Canada’s competitive advantages; and to accelerate the decision-making process of investors all over the world. All the activities undertaken to fulfill the organization’s mandate can be captured in three core functions: to promote Canada’s advantages in key international markets, to facilitate investment opportunities from all over the world through our partners across the country, and to accelerate large scale strategic and transformative investment projects coming to Canada.
Since launching operations in 2018, the Invest in Canada team has built up our capacity to effectively deliver on our mandate. By catering to the needs of global investors, coordinating with our partners across Canada and around the world, and by highlighting Canada’s advantages at prominent investor events in key markets, our team is positioning Canada as a truly premier global investment destination.
I am immensely proud of the work that the team has done to date and look forward to continued success for the year ahead.
Ian McKay
Chief Executive Officer
Results at a glance
Invest in Canada exists to promote, facilitate, and accelerate inbound global investment to strengthen Canada’s economic position by increasing investment that boosts productivity, accesses new technologies, encourages innovation and creates jobs for Canadians.
Over the past year, Invest in Canada has worked collaboratively with federal, provincial, territorial and municipal governments as well as industry partners to carry out the Government of Canada’s growth strategy commitments, positioning Canada as a top destination for Foreign Direct Investment (FDI).
Invest in Canada has made significant strides in increasing Canada’s share of global capital flows and making Canada an attractive destination for global investment:
| Promote | Facilitate | Accelerate |
|---|---|---|
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For more information on Invest in Canada’s plans, priorities and results achieved, see the “Results: what we achieved” section of this report.
Results: what we achieved
Core Responsibilities
The following are the interim core responsibilities for Invest in Canada. These will be revisited based on program results and needs and presented to Treasury Board for approval.
Marketing and Outreach
Description
Raises the profile of 'Brand Canada' through international marketing campaigns and tools aimed at foreign investors.
Results
Invest in Canada has a mandate to ensure investors are aware of Canada’s economic advantages and value proposition (its desirable financial, political and economic stability). The development of a strong FDI brand and proactive marketing and outreach were identified as key components to promote the country as a premier global investment destination.
Promoting Canada as a top destination for global investment
In 2018-19, focus was placed on developing an updated Invest in Canada brand with a clear and compelling “why Canada” story to attract new investment opportunities to the market. The brand highlights Canada’s investment advantages to international investors. The new brand draws on consultations with industry and federal, territorial, provincial, and municipal partners to ensure synchronicity of campaigns, and uses messaging that resonates with decision makers to dispel misperceptions and provide an accurate assessment of Canada’s sectoral strengths and economic advantages.
The launch of the Invest in Canada brand was accompanied by a sustained and agile international marketing campaign supporting the Agency’s efforts to improve the profile of Canada globally as a competitive business location and partner of choice. Driven by a robust digital and social media strategy, in-market presence through its participation at key events and an interactive investor-oriented website, Invest in Canada will continue to engage with current and potential investors, through every possible platform.
To introduce Invest in Canada and its services to the world and reach potential clients, focus was placed on enhancing Agency participation in impactful signature events in Canada and around the globe. This included a robust calendar of business events and trade shows, as well as the pursuit of a series of partner and promotional opportunities. Through accessing the Digital Asset Management tool, the Invest in Canada brand was also heavily leveraged by the Trade Commissioner Service and by other federal, provincial, territorial and municipal partners.
Results achieved
| Departmental results | Performance indicators | TargetFootnote 1* | Date to achieve targetFootnote 1* | 2018–19 Actual results | 2017–18 Actual resultsFootnote 1* | 2016–17 Actual resultsFootnote 2** |
|---|---|---|---|---|---|---|
| Foreign investors are aware of Canada as a competitive investment location. | TBD | TBD | TBD | TBD | Not applicable. | Not applicable. |
- Footnote *
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Return to footnote * referrer A Departmental Results Framework will be established and presented to the Treasury Board in fall/winter 2019-20.
- Footnote **
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Return to footnote ** referrer Invest in Canada was formally established on March 12, 2018.
Budgetary financial resources (dollars)
| 2018–19 Main Estimates | 2018–19 Planned spending | 2018–19 Total authorities available for use | 2018–19 Actual spending (authorities used) | 2018–19 Difference (Actual spending minus Planned spending) |
|---|---|---|---|---|
| 7,373,945 | 7,373,945 | 5,231,558 | 3,219,173 | (4,154,772) |
Human resources (full-time equivalents)
| 2018–19 Planned full-time equivalents | 2018–19 Actual full-time equivalents | 2018–19 Difference (Actual full-time equivalents minus Planned full-time equivalents) |
|---|---|---|
| 13 | 8 | (5) |
Investor Services
Description
Provides front-end single-window services to potential and current investors supported by research and business intelligence.
Results
With the goal of enhancing Canada’s capacity to compete on the international stage and increasing its share of FDI, Invest in Canada established its Investor Services function as a high impact foreign direct investment attraction and client support function.
Investors who have the choice of going anywhere in the world should start with Canada. In brief, I believe we have the best country in the world for investment, for innovation and for quality of life.
Accelerating Investment Attraction and Client Support Services
Scaling the internal capacity of the Investor Services team was a key focus for Invest in Canada in 2018-19, with the Agency recruiting skilled resources with specialties in client and business development from both public and private sector backgrounds.
Harnessing the skills and talents of the data and marketing business functions, in 2018 Invest in Canada developed a new quadrant methodology - an assessment tool designed to identify high-impact FDI opportunities in Canada using market intelligence - to guide Investor Services in focusing their energy on accounts that are most likely to invest and have the greatest impact. Since its development, the tool has also been employed by partner agencies and serves to guide the efforts of all federal partners with regards to FDI.
Leveraging the full range of federal programs, and working in step with provincial, territorial and municipal partners, the single-window investor support services established in 2018 simplifies decision making for potential investors and offers a full suite of investment facilitation and aftercare services. As a result of successful partner collaboration, this service advanced the closure of sizeable new investment deals over the course of the year.
With the deployment of the Salesforce Customer Relationship Management (CRM) system and the establishment of key partnerships (namely, a memorandum of understanding with Statistics Canada), Invest in Canada account executives are equipped with enhanced data and business intelligence that will boost support to investors in navigating the investment landscape and heighten promotion of Canada’s value proposition. FDI leads are identified and managed in close collaboration with the Trade Commissioner Service, Global Affairs Canada, provincial, territorial and municipal partners.
Invest in Canada is working with other federal departments and partners to identify information gaps and develop a long-term data strategy that will drive FDI solutions through crosscutting partnerships across government. This strategy will shape the direction of future data-driven developments and the sharing of other essential data for potential investors, with an aim to position Canada well against competitors in addressing investor informational needs.
Results achieved
| Departmental results | Performance indicators | TargetFootnote 3* | Date to achieve targetFootnote 3* | 2018–19 Actual results | 2017–18 Actual resultsFootnote 3* | 2016–17 Actual resultsFootnote 4** |
|---|---|---|---|---|---|---|
| Canada as an investment destination stays on the short list of investors. | TBD | TBD | TBD | TBD | Not applicable. | Not applicable. |
| Foreign investors demonstrate interest in Canadian investment locations. | TBD | TBD | TBD | TBD | Not applicable. | Not applicable. |
| Increased performance in turning initial investments into expanded investments. | TBD | TBD | TBD | TBD | Not applicable. | Not applicable. |
- Footnote *
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Return to footnote * referrer A Departmental Results Framework will be established and presented to the Treasury Board in fall/winter 2019-20.
- Footnote **
-
Return to footnote ** referrer Invest in Canada was formally established on March 12, 2018.
Budgetary financial resources (dollars)
| 2018–19 Main Estimates | 2018–19 Planned spending | 2018–19 Total authorities available for use | 2018–19 Actual spending (authorities used) | 2018–19 Difference (Actual spending minus Planned spending) |
|---|---|---|---|---|
| 4,077,421 | 4,077,421 | 2,892,789 | 939,388 | (3,138,033) |
Human resources (full-time equivalents)
| 2018–19 Planned full-time equivalents | 2018–19 Actual full-time equivalents | 2018–19 Difference (Actual full-time equivalents minus Planned full-time equivalents) |
|---|---|---|
| 17 | 11 | (6) |
* Funding approval has been received for 2017-18 through to 2019-20. Invest in Canada was formally established on 12 March 2018. The Agency will be seeking ongoing funding during FY 2019-20.
Partnership and Strategy Development
Description
Develops and maintains partnerships with the spectrum of federal, provincial, territorial and municipal partners to create and implement a national integrated foreign direct investment strategy aligned with Government of Canada economic development objectives.
Results
Championing a data-driven approach to its business objectives, Invest in Canada has solidified its position as a catalyst, liaising between investors and partners to facilitate timely decisions and resources to attract and retain FDI.
Facilitating Investor Attraction and Retention Efforts
In 2018, Invest in Canada defined its core group of strategic partners and stakeholders and carried out a comprehensive partner landscape survey to examine partners’ roles and strengths in the foreign investment support ecosystem, as well as gaps and opportunities to strengthen services, to ensure that services being developed by the Agency offer the most value to investors and are coordinated and complimentary to existing efforts.
Relevant and up-to-date information is vital to foreign direct investment attraction. As such, data is fundamental to every aspect of Invest in Canada’s operation. In 2018, Invest in Canada evaluated the key technology platforms and determined the data subscription and research project tools needed to gain a better understanding of economic indicators and potential investor positions. Invest in Canada developed the process to manage and deliver the highest quality market research on Canada’s economy, strategic industry sectors and target markets, and established a procedure to monitor local, national and international economic market trends using media monitoring, data, analytics and research reports to articulate Canada’s competitive advantages and generate leads.
The organization cannot be active in all sectors and should develop a clear strategy to promote those with the greatest potential.
The coordination and dissemination of data provides Invest in Canada, its federal, provincial and municipal government, and industry partners with a big picture view and actionable insights to ensure marketing efforts are aimed strategically, targeting the right investors and responding to their needs appropriately and effectively.
Acknowledging that companies invest in projects and communities as well as the countries themselves, Invest in Canada continued to increase its level of collaboration with federal, provincial, territorial, municipal, and industry partners to develop a proactive, strategic and coordinated approach to foreign direct investment attraction.
As part of Invest in Canada’s role to coordinate the efforts of various government organizations, a critical success factor is its ability to work effectively and efficiently with cities across Canada in an effort to achieve the common goal of making Canada the preferred location for foreign direct investment. In 2019, Invest in Canada enlisted the expertise and capacity of the Consider Canada City Alliance (CCCA) to aid in advancing FDI deal flow opportunities in Canada.
Invest in Canada’s Investor Services, Marketing, and Information and Data Services business functions are working in tandem to execute promotion and engagement opportunities to actively increase Canada’s investment prospect pipeline. Invest in Canada has developed a robust internal strategy and is working to deploy a data-driven approach to proactively measure shifts and decreases to the investment landscape to inform recourse options and mitigation tactics. Frequent benchmarking will be undertaken to ensure Canada’s FDI efforts are fully informed by the activities of FDI competitors as well as feedback from the global investor community.
The foreign investment attraction ecosystem in Canada is diverse and involves many players. This can be complex for potential investors. Invest in Canada will continue its stakeholder engagement with federal, provincial, territorial and municipal governments as well as industry partners to enhance and evolve its core business objectives. Invest in Canada has also formed multi-departmental deal teams for those projects that require added attention at the federal level. These teams serve to bring together subject matter and policy experts at the federal, provincial and municipal levels to better coordinate FDI attraction-related activities.
Results achieved
| Departmental results | Performance indicators | TargetFootnote 5* | Date to achieve targetFootnote 5* | 2018–19 Actual results | 2017–18 Actual resultsFootnote 5* | 2016–17 Actual resultsFootnote 6** |
|---|---|---|---|---|---|---|
| Efforts of stakeholders to attract FDI are aligned across levels of government. | TBD | TBD | TBD | TBD | Not applicable. | Not applicable. |
- Footnote *
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Return to footnote * referrer A Departmental Results Framework will be established and presented to the Treasury Board in fall/winter 2019-20.
- Footnote **
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Return to footnote ** referrer Invest in Canada was formally established on March 12, 2018.
Budgetary financial resources (dollars)
| 2018–19 Main Estimates | 2018–19 Planned spending | 2018–19 Total authorities available for use | 2018–19 Actual spending (authorities used) | 2018–19 Difference (Actual spending minus Planned spending) |
|---|---|---|---|---|
| 3,167,862 | 3,167,862 | 2,247,488 | 726,406 | (2,441,456) |
Human resources (full-time equivalents)
| 2018–19 Planned full-time equivalents | 2018–19 Actual full-time equivalents | 2018–19 Difference (Actual full-time equivalents minus Planned full-time equivalents) |
|---|---|---|
| 10 | 10 | 0 |
* Funding approval has been received for 2017-18 through to 2019-20. Invest in Canada was formally established on 12 March 2018. The Agency will be seeking ongoing funding during FY 2019-20.
Financial, human resources and performance information for Invest in Canada’s Program Inventory is available in the GC InfoBase.i
Internal Services
Description
Internal Services are those groups of related activities and resources that the federal government considers to be services in support of Programs and/or required to meet corporate obligations of an organization. Internal Services refers to the activities and resources of the 10 distinct service categories that support Program delivery in the organization, regardless of the Internal Services delivery model in a department. The 10 service categories are:
- Acquisition Management Services
- Communications Services
- Financial Management Services
- Human Resources Management Services
- Information Management Services
- Information Technology Services
- Legal Services
- Material Management Services
- Management and Oversight Services
- Real Property Management Services
Results
As a new departmental corporation, Invest in Canada priorities for 2018-19 were focused on talent recruitment and organizational capacity building, partnership establishment, and the formation of effective programs and services.
Corporate Governance:
A full (11 member) Board of Directors has been appointed, as well as two internal committees, to provide strategic leadership and guidance to Invest in Canada. The Board met on three (3) occasions in 2018-19. A corporate excellence plan has been developed and implemented to effectively support the Board of Directors’ meetings and activities and ensure effective internal governance. Ensuring Invest in Canada’s compliance with key legislative requirements and reporting continues to be a critical priority.
Human Resources (HR) Management:
As a priority for 2018, Invest in Canada focused on the recruitment of the leadership team as well as other core positions, with an aim to capitalize on Canada’s diversity. As of March 31, 2019, 54% of target positions were filled. HR services have been put in place, and foundational organizational architecture and policies and procedures have been finalized. Business processes and programs for performance management, learning and leadership development have been established. With the appointment of the Board of Directors, support and preparations for the Board’s inaugural and subsequent meetings were provided.
Policies, processes and control frameworks:
Pursuant to the Invest in Canada Act, strong operating policies and effective management control frameworks have been put in place to ensure organizational excellence and the highest standard of accountability. Policies, delegation of authorities’ documents and control frameworks (involving the management of the organization’s human and financial resources), and values and ethics have been put forward for consideration and approval of the Board of Directors. Three (3) main policies have been established: travel/hospitality, partnering, and procurement; and the delegation of authority policy has been developed.
Corporate Information Management (IM) / Information Technology (IT) systems:
The provision of corporate IM/IT systems have been made through arrangements with other government departments, and IT policies have been established for roll-out. Shared Services Canada has helped to develop the necessary IM/IT infrastructure to support Invest in Canada. An arrangement has also been put in place with the Canadian Human Rights Commission for Financial Management IT services.
Operational IM/IT systems:
State of the art technology to facilitate superior client support to investors and provide quick and easy access to information has been put in place. Business intelligence tools have been implemented to support the information requirements of potential and current investors. At the same time, a Salesforce client relationship management (CRM) system has been deployed. These tools also support internal decision-making regarding potential investors and service investor clients.
Treasury Board (TB) requirements:
A Departmental Results Framework will be developed and presented to TB for approval fall/winter 2019-20, and long-term funding requirements (beyond 3-years) will be identified and presented for approval in spring 2019.
Budgetary financial resources (dollars)
| 2018–19 Main Estimates | 2018–19 Planned spending | 2018–19 Total authorities available for use | 2018–19 Actual spending (authorities used) | 2018–19 Difference (Actual spending minus Planned spending) |
|---|---|---|---|---|
| 8,565,696 | 8,565,696 | 12,386,764 | 5,833,968 | (2,731,728) |
Human resources (full-time equivalents)
| 2018–19 Planned full-time equivalents | 2018–19 Actual full-time equivalents | 2018–19 Difference (Actual full-time equivalents minus Planned full-time equivalents) |
|---|---|---|
| 10 | 7 | (3) |
Analysis of trends in spending and human resources
Actual expenditures
Invest in Canada was formally established on 12 March 2018. The funding levels from 2018-19 and 2019-20 reflect a gradual ramp-up of Invest in Canada operations.
Budgetary performance summary for Core Responsibilities and Internal Services (dollars)
| Core Responsibilities and Internal Services | 2018–19 Main Estimates | 2018–19 Planned spending | 2019–20 Planned spending | 2020–21 Planned spendingFootnote 7* | 2018–19 Total authorities available for use | 2018–19 Actual spending (authorities used) | 2017–18 Actual spending (authorities used)Footnote 7* | 2016–17 Actual spending (authorities used)Footnote 7* |
|---|---|---|---|---|---|---|---|---|
| Marketing and Outreach | 7,373,945 | 7,373,945 | 19,835,589 | Not available | 5,231,558 | 3,219,173 | 677,000 | Not available |
| Investor Services | 4,077,421 | 4,077,421 | 3,321,000 | Not available | 2,892,789 | 939,388 | 27,000 | Not available |
| Partnership and Strategy Development | 3,167,862 | 3,167,862 | 6,438,000 | Not available | 2,247,488 | 726,406 | 425,000 | Not available |
| Subtotal | 14,619,228 | 14,619,228 | 29,594,589 | Not available | 10,371,835 | 4,884,967 | 1,129,000 | Not available |
| Internal Services | 8,565,696 | 8,565,696 | 6,462,000 | Not available | 12,386,789 | 5,833,968 | 903,683 | Not available |
| Total | 23,184,924 | 23,184,924 | 36,056,589 | Not available | 22,758,599 | 10,718,935 | 2,032,683 | Not available |
- Footnote *
-
Return to footnote * referrer Funding approval has been received for 2017-18 through to 2019-20. Invest in Canada was formally established on 12 March 2018. The Agency will be seeking ongoing funding during FY 2019-20.
Actual Human Resources
In 2018-19, Invest in Canada’s human resources increased by 36 full-time equivalents (FTEs) to enhance the Agency’s capacity to deliver new programs and initiatives in support of its mandate and priorities. In 2018-19, the actual number of FTEs was on target based on launch date of the organization and ramp up. The variance in FTEs forecasted between 2018-19 and 2019-20 reflects an anticipated Agency scale-up.
Human resources summary for Core Responsibilities and Internal Services (full-time equivalents)
| Core Responsibilities and Internal Services | 2016–17 Actual full-time equivalents | 2017–18 Actual full-time equivalents | 2018–19 Planned full-time equivalents | 2018–19 Actual full-time equivalentsFootnote 8* | 2019–20 Planned full-time equivalents | 2020–21 Planned full-time equivalents |
|---|---|---|---|---|---|---|
| Marketing and Outreach | Not applicable | Not applicable | 13 | 8 | 15 | Not available |
| Investor Services | Not applicable | Not applicable | 17 | 11 | 30 | Not available |
| Partnership and Strategy Development | Not applicable | Not applicable | 10 | 10 | 12 | Not available |
| Subtotal | Not applicable | Not applicable | 40 | 29 | 57 | Not available |
| Internal Services | Not applicable | Not applicable | 10 | 7 | 10 | Not available |
| Total | Not applicable | Not applicable | 50 | 36 | 67 | Not available |
- Footnote *
-
Return to footnote * referrer Funding approval has been received for 2017-18 through to 2019-20. Invest in Canada was formally established on 12 March 2018. The Agency will be seeking ongoing funding during FY 2019-20.
Expenditures by vote
For information on Invest in Canada’s organizational appropriations, consult the 2019–20 Main Estimates.ii
Government of Canada spending and activities
Information on the alignment of Invest in Canada’s spending with the Government of Canada’s spending and activities is available in the GC InfoBase.iii
Financial statements and financial statements highlights
Financial statements
Invest in Canada’s financial statements (unaudited) for the year ended March 31, 2019, are available on the Invest in Canada website.
Financial statements highlights
Condensed Statement of Operationsiv (unaudited) for the year ended March 31, 2019 (dollars)
| Financial information | 2018–19 Planned results | 2018–19 Actual results | 2017–18 Actual results | Difference (2018-19 Actual results minus 2018-19 Actual results) | Difference (2017-18 Actual results minus 2017-18 Actual results) |
|---|---|---|---|---|---|
| Total expenses | 22,033,434 | 8,934,508Footnote 9* | 2,032,683 | 13,098,926 | 11,066,243 |
| Total revenues | 0 | - | - | - | - |
| Net cost of operations before government funding and transfers | 22,0333,434 | 8,934,508 | 2,032,683 | 13,098,926 | 11,066,243 |
- Footnote *
-
Return to footnote * referrer Total expenses were $8.9 million in 2018-19, as Invest in Canada scaled up operations and continued to build internal capacity. Larger expenses for the year were salary and employee benefit costs totalling $3.3M, as Invest in Canada recruited 36 talented employees for high-value positions. Other significant costs consisted of $1.5M for participation in large international events, $1.5M in in one-time setup costs and $0.8M in travel costs.
Condensed Statement of Financial Position (unaudited) as of March 31, 2019 (dollars)
| Financial information | 2018–19 | 2017–18 | Difference (2018-19 minus 2017-18) |
|---|---|---|---|
| Total net liabilities | 2,491,093 | 422,081 | 2,069,012 |
| Total net financial assets | 2,432,652 | 422,081 | 2,010,571 |
| Departmental net debt | 58,441 | - | 58,441 |
| Total non-financial assets | 1,831,312 | - | 1,831,312Footnote 10* |
| Departmental net financial position | 1,772,871 | - | 1,772,871 |
- Footnote *
-
Return to footnote * referrer Total non-financial assets for Invest in Canada of $1.8M in 18-19, this amount consists of $1.3M in office fit-ups (Invest in Canada officially moved to new space in June 2019) and $0.5M in prepaid expenses related to future signature events.
Supplementary Information
Corporate information
Organizational profile
Appropriate minister: The Honourable Mary Ng
Chairperson: Mr. Mitch Garber
Chief Executive Officer: Mr. Ian McKay
Ministerial portfolio: Small Business, Export Promotion and International Trade
Enabling instrument: Invest in Canada Actv
Year of incorporation / commencement: 2018
Other:
With its main office in downtown Ottawa, Invest in Canada is a departmental agency, overseen by a Board of Directors (the Board) accountable to the Minister of Small Business, Export Promotion and International Trade. The Board is currently constituted by eleven (11) directors, including a Chairperson, Vice-Chairperson, and ex officio Deputy Minister of the designated Minister. With the exception of the Deputy Minister of the designated Ministry, all positions are appointed by Order-in-Council to hold office for terms not exceeding five years and are eligible for re-appointment for a second term of office. Members of the Board hold office on a part-time basis. A complete list of current Board appointees is available on Invest in Canada’s website.
The enabling legislation, the Invest in Canada Act, establishing the new Invest in Canada corporation provides the framework and powers of the Agency. As part of this enabling legislation, Invest in Canada has authority over matters relating to human resources management, contracting, communications, travel and hospitality, and other general administrative functions.
The Board of Directors supervises the management of the activities of the Agency. The Chief Executive Officer directs the day-to-day operation of the activities of the organization.
Invest in Canada works globally, in partnership with Global Affairs Canada and its Trade Commissioner Service, other federal departments, and provincial and municipal investment attraction offices.
Raison d’être, mandate and role: who we are and what we do
“Raison d’être, mandate and rolevi: who we are and what we do” is available on Invest in Canada’s website.
For more information on the department’s organizational mandate letter commitments, see the Minister’s mandate letter.
Operating context and key risks
Information on operating context and key risks is available on Invest in Canada’s website.
Reporting framework
The Agency is in the process of seeking approval for the new Departmental Results Framework and will be reporting on it in the 2019-20 Departmental Results Report.
Supporting information on the Program Inventory
Financial, human resources and performance information for Invest in Canada’s Program Inventory is available in the GC InfoBase.vii
Supplementary information tables
The following supplementary information tablesviii are available on Invest in Canada’s website.
- Departmental Sustainable Development Strategy
- Gender-based analysis plus
Federal tax expenditures
The tax system can be used to achieve public policy objectives through the application of special measures such as low tax rates, exemptions, deductions, deferrals and credits. The Department of Finance Canada publishes cost estimates and projections for these measures each year in the Report on Federal Tax Expenditures.ix This report also provides detailed background information on tax expenditures, including descriptions, objectives, historical information and references to related federal spending programs. The tax measures presented in this report are the responsibility of the Minister of Finance.
Organizational contact information
Invest in Canada
160 Elgin Street, Suite 1802
Ottawa, Ontario K2P 2P7
Email: [email protected]
http://www.investcanada.ca
Appendix: definitions
- appropriation (crédit)
- Any authority of Parliament to pay money out of the Consolidated Revenue Fund.
- budgetary expenditures (dépenses budgétaires)
- Operating and capital expenditures; transfer payments to other levels of government, organizations or individuals; and payments to Crown corporations.
- Core Responsibility (responsabilité essentielle)
- An enduring function or role performed by a department. The intentions of the department with respect to a Core Responsibility are reflected in one or more related Departmental Results that the department seeks to contribute to or influence.
- Departmental Plan (plan ministériel)
- A report on the plans and expected performance of an appropriated department over a three-year period. Departmental Plans are tabled in Parliament each spring.
- Departmental Result (résultat ministériel)
- A Departmental Result represents the change or changes that the department seeks to influence. A Departmental Result is often outside departments’ immediate control, but it should be influenced by program-level outcomes.
- Departmental Result Indicator (indicateur de résultat ministériel)
- A factor or variable that provides a valid and reliable means to measure or describe progress on a Departmental Result.
- Departmental Results Framework (cadre ministériel des résultats)
- Consists of the department’s Core Responsibilities, Departmental Results and Departmental Result Indicators.
- Departmental Results Report (rapport sur les résultats ministériels)
- A report on an appropriated department’s actual accomplishments against the plans, priorities and expected results set out in the corresponding Departmental Plan.
- experimentation (expérimentation)
- Activities that seek to explore, test and compare the effects and impacts of policies, interventions and approaches, to inform evidence-based decision-making, by learning what works and what does not.
- full-time equivalent (équivalent temps plein)
- A measure of the extent to which an employee represents a full person-year charge against a departmental budget. Full-time equivalents are calculated as a ratio of assigned hours of work to scheduled hours of work. Scheduled hours of work are set out in collective agreements.
- gender-based analysis plus (GBA+) (analyse comparative entre les sexes plus [ACS+])
- An analytical process used to help identify the potential impacts of policies, Programs and services on diverse groups of women, men and gender differences. We all have multiple identity factors that intersect to make us who we are; GBA+ considers many other identity factors, such as race, ethnicity, religion, age, and mental or physical disability.
- government-wide priorities (priorités pangouvernementales)
- For the purpose of the 2018–19 Departmental Results Report, those high-level themes outlining the government’s agenda in the 2015 Speech from the Throne, namely: Growth for the Middle Class; Open and Transparent Government; A Clean Environment and a Strong Economy; Diversity is Canada’s Strength; and Security and Opportunity.
- horizontal initiative (initiative horizontale)
- An initiative where two or more departments are given funding to pursue a shared outcome, often linked to a government priority.
- non-budgetary expenditures (dépenses non budgétaires)
- Net outlays and receipts related to loans, investments and advances, which change the composition of the financial assets of the Government of Canada.
- performance (rendement)
- What an organization did with its resources to achieve its results, how well those results compare to what the organization intended to achieve, and how well lessons learned have been identified.
- performance indicator (indicateur de rendement)
- A qualitative or quantitative means of measuring an output or outcome, with the intention of gauging the performance of an organization, program, policy or initiative respecting expected results.
- performance reporting (production de rapports sur le rendement)
- The process of communicating evidence-based performance information. Performance reporting supports decision making, accountability and transparency.
- plan (plan)
- The articulation of strategic choices, which provides information on how an organization intends to achieve its priorities and associated results. Generally a plan will explain the logic behind the strategies chosen and tend to focus on actions that lead up to the expected result.
- planned spending (dépenses prévues)
- For Departmental Plans and Departmental Results Reports, planned spending refers to those amounts presented in Main Estimates.
A department is expected to be aware of the authorities that it has sought and received. The determination of planned spending is a departmental responsibility, and departments must be able to defend the expenditure and accrual numbers presented in their Departmental Plans and Departmental Results Reports. - priority (priorité)
- A plan or project that an organization has chosen to focus and report on during the planning period. Priorities represent the things that are most important or what must be done first to support the achievement of the desired Strategic Outcome(s) or Departmental Results.
- program (programme)
- Individual or groups of services, activities or combinations thereof that are managed together within the department and focus on a specific set of outputs, outcomes or service levels.
- result (résultat)
- An external consequence attributed, in part, to an organization, policy, program or initiative. Results are not within the control of a single organization, policy, program or initiative; instead they are within the area of the organization’s influence.
- statutory expenditures (dépenses législatives)
- Expenditures that Parliament has approved through legislation other than appropriation acts. The legislation sets out the purpose of the expenditures and the terms and conditions under which they may be made.
- Strategic Outcome (résultat stratégique)
- A long-term and enduring benefit to Canadians that is linked to the organization’s mandate, vision and core functions.
- target (cible)
- A measurable performance or success level that an organization, program or initiative plans to achieve within a specified time period. Targets can be either quantitative or qualitative.
- voted expenditures (dépenses votées)
- Expenditures that Parliament approves annually through an Appropriation Act. The Vote wording becomes the governing conditions under which these expenditures may be made.