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Invest Sault Ste. Marie

Foreign Direct Investment

Foreign direct investment (FDI) is an investment made by a company or individual in one country in business interests in another country, in the form of either establishing business operations or acquiring business assets in the other country, such as ownership or controlling interest in a foreign company. 

Sault Ste. Marie proudly hosts a number of foreign-owned businesses, and the community embraces these companies with open arms.

These businesses receive the full support of City Council and staff, senior levels of government, the Sault Ste. Marie Economic Development Corporation and the community at large. With this support and the competitive advantages found here, these international companies have thrived in Sault Ste. Marie.

To learn more about relocating or immigrating to Sault Ste. Marie, visit www.discoverthesault.ca 

Success stories include:

  • Essar Steel Algoma, an integrated primary steel producer, is a subsidiary of India-based Essar Group ($1.8 billion purchase + $500 million investment)
  • KKR & Company, is an American multinational private equity firm that purchased the 60-megawatt solar farms project in Sault Ste. Marie from Starwood Energy Group ($300 million investment)
  • Brookfield Prince Windmill Project ($400 million investment)
  • Tenaris Algoma Tubes, a manufacturer of seamless and welded steel pipe products, is owned by a conglomerate with ties to Argentina, Italy and Luxemburg ($30 million investment)
  • Heliene Canada, a manufacturer of photovoltaic solar panels that began operating thanks to a partnership between Helios Energy Europe and Canadian entrepreneurs ($6.5 million investment)
  • Sutherland Global Services, a multinational company that employs 30,000 people worldwide in 10 countries, operates a business-process outsourcing (BPO) centre in Sault Ste. Marie
  • Arauco N.A., a leading global manufacturer of premium composite panels, plywood and other forest products, operates a medium density fibreboard mill (purchased Flakeboard)
  • Agero, operates a contact centre in Sault Ste. Marie, providing roadside assistance services on behalf of major U.S. car manufacturers 

Building Partnerships

Building partnerships between local businesses and the global market is crucial, particularly during challenging economic times when companies may have to find a new customer base to stay afloat and prosper.

For this reason, the Sault Ste. Marie Economic Development Corporation focuses much attention on fostering international relationships, global logistics and regional partnerships. Its International Relations & Global Logistics Strategy consists of the following goals:

  • Generating and developing international relations, including the pursuit of a Global Transportation Gateway designation
  • Enhancing global logistics for business-to-business economic development opportunities
  • Establishing and maintaining sister-city arrangements/agreements and developing regional partnerships with Ontario's North Economic Development Corporation (ONEDC) and the Michigan Upper Peninsula Economic Development Network
  • Creating import/export-related business and economic growth opportunities, including the development of inbound and outbound trade and exploratory missions
  • Responding as the contact for new clients with a specific need/interest in international export/import trade matters, including global logistics