2023–24 Departmental Results Report

Additional information on the detailed results and performance information for Invest in Canada’s program inventory is available on GC InfoBase. 

Details on results 

The following section describes the results for Foreign Direct Investment Attraction in 2023–24 compared with the planned results set out in Invest in Canada’s departmental plan for the year. 

Result 1: Canada is promoted as a foreign direct investment destination. 

• Developed and launched a global advertising campaign in eight key markets, effectively reaching high-level business decision makers.
• Led Canada’s presence at signature and high-profile global events and enhanced the country’s visibility among key business decision makers.
• Developed and promoted bespoke content and targeted campaigns to elevate the consideration of Canada as a destination for FDI in priority sectors.

Result 2: Investors are investing or expanding in Canada through the support of Invest in Canada services  

• Supported a pan-Canadian investment landscape and assisted global investors in considering diverse regions and communities across Canada as sites to expand their operations, securing 30 transformational and impactful investments into regions across Canada.
• Collaborated with partners across all levels of government to offer a seamless customer journey to investors as they consider Canada as their preferred investment destination. 
• Worked closely with the Trade Commissioner Service to ensure coordination on leads and in-market initiatives.

Result 3: Partners have access to services and tools to support their investment attraction efforts  

• Innovated, grew and maintained Invest in Canada’s partner platform, InfoZone, to provide a suite of up-to-date and relevant FDI intelligence products to federal, provincial and municipal stakeholders.
• Created relevant content and products on key sectors, potential upcoming sectors, as well as regional content, including key attracting factors for FDI, notable investment data, and regional partner features.
• Built and expanded relationships with federal departments to steer the implementation of Canada’s foreign direct investment attraction strategy toward more efficiency and greater impact.

 

Resources required to achieve results 

Table 2: Snapshot of resources required for Foreign Investment Attraction 

Table 2 provides a summary of the planned and actual spending and full-time equivalents (FTEs) required to achieve results.

Complete financial and human resources information for the Invest in Canada’s program inventory is available on GC InfoBase.

Related government-wide priorities

Gender-based analysis plus 

Invest in Canada is committed to ensuring that horizontal policy matters of gender-based analysis plus (GBA Plus) are considered to ensure inclusive outcomes for Canadians. An important part of Canada’s value proposition includes its diversity advantage. Through Invest in Canada’s integrated advertising campaigns and content marketing, Invest in Canada highlights Canada’s value proposition as a highly educated and diverse workforce.  

In 2023-24, Invest in Canada was focused on gathering data and research on the impact of foreign direct investment in Canada, including the role of FDI on diversity to better understand the impact of investments on diverse population. With this broader knowledge, the organization can better plan for areas of priority, understand the impact of FDI to support the government’s commitment to an inclusive economy, and work with investors to improve gender or diversity goals, while positioning Canada as a top-of-mind investment destination.

As an employer, Invest in Canada is committed to ensuring that jobs within the organization are evaluated based a pay equity compliant job classification system. In the 2023-24 fiscal year, Invest in Canada carried out a pay equity exercise that compared female and male dominated job classes to determine whether there are pay equity discrepancies. Subsequently, recommendations and policy changes to address pay equity issues identified during the exercise have been fully implemented.  

United Nations 2030 Agenda for Sustainable Development and the Sustainable Development Goals 

Invest in Canada continues to align with the Government of Canada’s commitment to achieving the goals identified in the Federal Implementation Plan for the 2030ⁱ Agenda for Sustainable Development and the UN Sustainable Development Goals. Invest in Canada focused on promoting Canada’s strengths and capacity to support the clean energy transition and continues to play a role in supporting the electric vehicle battery supply chain.

More information on Invest in Canada’s contributions to Canada’s Federal Implementation Plan on the 2030 Agenda and the Federal Sustainable Development Strategy can be found in our Departmental Sustainable Development Strategy.

Innovation

Invest in Canada’s core responsibility and expected results are aligned with the mandate of the organization. However, as a principal philosophy, Invest in Canada will continue to monitor and learn from its results to better refine, evolve and innovate on the organization’s approach to serving clients. 

Invest in Canada continues to use innovative approaches to deliver services and carry out activities in support of partners and clients, such as digital marketing to leverage dynamic and innovative media like podcasts and blog posts to extend the reach of campaigns, effectively telling the Canada story to a broader, more diverse audience, and leveraging data and knowledge to support regions across Canada and build key partnerships with industry. 

Program inventory

Foreign Direct Investment Attraction is supported by the following programs: 

• Marketing
• Investor Services
• Data Partnerships and Pan-Canadian Collaboration

Additional information related to the program inventory for Foreign Direct Investment Attraction is available on the Results page on GC InfoBase 

Internal services

In this section

• Description
• Progress on results
• Resources required to achieve results
• Contracts awarded to Indigenous business

Description

Internal services are the services that are provided within a department so that it can meet its corporate obligations and deliver its programs. There are 10 categories of internal services:

• management and oversight services
• communications services
• legal services
• human resources management services
• financial management services
• information management services
• information technology services
• real property management services
• materiel management services
• acquisition management services

Progress on results

This section presents details on how the department performed to achieve results and meet targets for internal services. 

In 2023-24, Invest in Canada successfully implemented all commitments made in year one of the organization’s three-year Accessibility Plan. As captured in the 2023 Progress Report, these commitments included disability management training for management and human resources, formalizing the accommodations process using the Government of Canada’s Accessibility Passport, and introducing an Accessible Meeting Toolkit for all employees. 

The introduction of the organization’s first formal Diversity, Equity and Inclusion (DEI) Strategy and Action Plan brought together employment related actions from the Accessibility Plan and introduced a holistic approach to address systemic inequities and historical disadvantages for all employment equity groups. This Strategy outlines a vision and a three-year action plan towards three strategic objectives as well as a measurement framework. 

Resources required to achieve results

Table 3: Resources required to achieve results for internal services this year

Table 3 provides a summary of the planned and actual spending and full-time equivalents (FTEs) required to achieve results.

The complete financial and human resources information for the Invest in Canada’s program inventory is available on GC InfoBase.

Contracts awarded to Indigenous businesses 

Invest in Canada is a Phase 3 department and is aiming to achieve the minimum 5% target by the end of 2024–25. 

To facilitate the achievement of the target by 2024-25, Invest in Canada has developed its 2024-25 and 2025-26 procurement plan for the Mandatory Minimum Five Percent Indigenous Procurement Target. The plan identifies the potential areas under each program where there are opportunities for Indigenous businesses to contribute to and support Invest in Canada’s services over the upcoming years such as separate contracts for certain creative work services and implementing conditional set-asides for Indigenous business capacity to fulfill the requirements.

Over the 2023-24 fiscal year, Invest in Canada also ensured the alignment of internal policies and processes to support its achievement of the Mandatory Procedures for Contracts Awarded to Indigenous Businesses. The importance of this commitment was communicated to employees to encourage fund centre managers to allocate procurement budgets toward Indigenous businesses beginning. 

Invest in Canada will continue to build on information training sessions led by Indigenous Services Canada and the Canada School of Public Service to ensure that its procurement professionals have access to appropriate training, including the mandatory course, Indigenous Considerations in Procurement (COR409), from the Canada School of Public Service. 

Back to top

Spending and human resources 

In this section

• Spending
• Funding
• Financial statement highlights
• Human resources

Spending 

This section presents an overview of the department's actual and planned expenditures from 2021–22 to 2026–27.  

Budgetary performance summary

Table 4: Actual three-year spending on core responsibilities and internal services

Table 4 presents how much money Invest in Canada spent over the past three years to carry out its core responsibilities and for internal services. 

Analysis of the past three years of spending

Invest in Canada was formally established on March 12, 2018. Spending from 2023-24 reflects funding for Invest in Canada at a steady state, including the government's actions to refocus spending.  

More financial information from previous years is available on the Finances section of GC Infobase.

Table 5: Planned three-year spending on core responsibilities and internal services (dollars)

Table 5 presents how much money Invest in Canada’s plans to spend over the next three years to carry out its core responsibilities and for internal services. 

Analysis of the next three years of spending

Invest in Canada’s planned spending profile has matched the maturation of the organization. Invest in Canada is responsible for all employee benefits and pension contributions annually. Reduction in spending identified in above table reflects the refocusing government spending initiative.  

More detailed financial information from previous years is available on the Finances section of GC Infobase.

Table 6: Budgetary actual gross and net planned spending summary (dollars) 

Table 6 reconciles gross planned spending with net spending for 2023–24.

Analysis of budgetary actual gross and net planned spending summary

Invest in Canada is not a revenue generating department, hence actual gross spending equals actual net spend (authorities used).

Information on the alignment of Invest in Canada’s spending with Government of Canada’s spending and activities is available on GC InfoBase.

Funding

This section provides an overview of the department's voted and statutory funding for its core responsibilities and for internal services. For further information on funding authorities, consult the Government of Canada budgets and expenditures. 

Graph 1: Approved funding (statutory and voted) over a six-year period

Graph 1: summarizes the department's approved voted and statutory funding from 2021-22 to 2026-27. 

Text version of graph 1

Analysis of statutory and voted funding over a six-year period 

Invest in Canada’s funding profile has matched the maturation of the organization. Invest in Canada is responsible for all employee benefits and pension contributions annually.

For further information on Invest in Canada’s departmental voted and statutory expenditures, consult the Public Accounts of Canada.

Financial statement highlights

Invest in Canada’s complete financial statements (unaudited or audited) for the year ended March 31, 2024, are available online.

Table 7: Condensed Statement of Operations (unaudited or audited) for the year ended March 31, 2024 (dollars)

Table 7 summarizes the expenses and revenues for 2023–24 which net to the cost of operations before government funding and transfers. 

The 2023–24 planned results information is provided in Invest in Canada’s Future-Oriented Statement of Operations and Notes 2023–24. 

Table 8 summarizes actual expenses and revenues which net to the cost of operations before government funding and transfers. 

Table 9: Condensed Statement of Financial Position (unaudited or audited) as of March 31, 2024 (dollars)  

Table 9 provides a brief snapshot of the department’s liabilities (what it owes) and assets (what the department owns), which helps to indicate its ability to carry out programs and services.

Human resources

This section presents an overview of the department’s actual and planned human resources from 2021–22 to 2026–27.

Table 10: Actual human resources for core responsibilities and internal services

Table 10 shows a summary of human resources, in full-time equivalents (FTEs), for Invest in Canada’s core responsibilities and for its internal services for the previous three fiscal years.

Analysis of human resources over the last three years

Invest in Canada was formally established on March 12, 2018. The FTEs identified in the table above reflects Invest in Canada at a fully operational and steady state.  

Table 11: Human resources planning summary for core responsibilities and internal services

Table 11 shows information on human resources, in full-time equivalents (FTEs), for Invest in Canada’s core responsibilities and for its internal services planned for the next three years. Human resources for the current fiscal year are forecasted based on year to date.  

Analysis of human resources for the next three years

Invest in Canada’s planned human resources for the next three years are expected to remain steady as the organization has reached its operational steady state.

Back to top

Corporate information

Departmental profile

Appropriate minister(s): The Honourable Mary Ng, P.C., M.P.

Institutional head: Laurel Broten

Ministerial portfolio: International Trade

Enabling instrument(s): Invest in Canada Actⁱⁱ

Year of incorporation / commencement: 2018

ther: Invest in Canada is headquartered in Ottawa and is a departmental corporation, overseen by a board of directors (the board) accountable to the Minister of Export Promotion, International Trade and Economic Development. The board is composed of up to eleven (11) part-time directors, including a Chairperson, Vice-Chairperson, and an ex-officio director, the Deputy Minister of the designated Minister. Apart from the Deputy Minister, all positions are appointed by Order-in-Council to hold office for terms not exceeding three years and are eligible for reappointment in the same or another capacity. A complete list of current board appointees is available on Invest in Canada’s website.ⁱⁱⁱ

The board supervises and manages Invest in Canada’s business and affairs and advises the Minister and the Chief Executive Officer on matters relating to the organization’s mandate. The Chief Executive Officer is responsible for Invest in Canada’s day-to-day operation.

Invest in Canada’s enabling legislation provides the framework and powers of the organization. It also provides Invest in Canada authority over matters relating to human resources management, contracting, communications, travel and hospitality and other general administrative functions.

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, to promote Canada as a destination for foreign direct investment.

Departmental contact information

Mailing address: 160 Elgin Street, 18th Floor Ottawa ON K2P 2P7

Email: CorporateServices@invcanada.ca

Website(s): www.investcanada.ca^iv

Back to top

Supplementary information tables

The following supplementary information tables are available on Invest in Canada’s website:

• Gender‑based analysis plus
• United Nations 2030 Agenda and the Sustainable Development Goals

Back to top

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. This report also provides detailed background information on tax expenditures, including descriptions, objectives, historical information and references to related federal spending programs as well as evaluations and GBA Plus of tax expenditures.

 

Back to top

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, departments 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 3-year period. Departmental Plans are usually tabled in Parliament each spring.

departmental priority (priorité)

A plan or project that a department 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 departmental results.

departmental result (résultat ministériel)

A consequence or outcome that a department seeks to achieve. 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 quantitative measure of progress on a departmental result.

departmental results framework (cadre ministériel des résultats)

A framework that connects the department’s core responsibilities to its departmental results and departmental result indicators.

Departmental Results Report (rapport sur les résultats ministériels)

A report on a department’s actual accomplishments against the plans, priorities and expected results set out in the corresponding Departmental Plan.

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. For a particular position, the full-time equivalent figure is the ratio of number of hours the person actually works divided by the standard number of hours set out in the person’s collective agreement.

gender-based analysis plus (GBA Plus) (analyse comparative entre les sexes plus [ACS Plus])

An analytical tool used to assess how different groups of women, men and gender-diverse people experience policies, programs, and other initiatives, and support the development of responsive and inclusive programs and policies. GBA Plus is a process for understanding who is impacted by the issue or opportunity being addressed by the initiative; identifying how the initiative could be tailored to meet diverse needs of the people most impacted; and anticipating and mitigating any barriers to accessing or benefitting from the initiative. GBA Plus is an intersectional analysis that goes beyond biological (sex) and socio-cultural (gender) differences to consider other factors, such as age, disability, education, ethnicity, economic status, geography (including rurality), language, race, religion, and sexual orientation.

government-wide priorities (priorités pangouvernementales)

For the purpose of the 2022–23 Departmental Results Report, government-wide priorities are the high-level themes outlining the government’s agenda in the November 23, 2021, Speech from the Throne: building a healthier today and tomorrow; growing a more resilient economy; bolder climate action; fight harder for safer communities; standing up for diversity and inclusion; moving faster on the path to reconciliation; and fighting for a secure, just and equitable world.

horizontal initiative (initiative horizontale)

An initiative where two or more federal 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 a department did with its resources to achieve its results, how well those results compare to what the department 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 department, program, policy or initiative respecting expected results.

plan (plan)

The articulation of strategic choices, which provides information on how a department 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 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.

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.

program inventory (répertoire des programmes)

Identifies all the department’s programs and describes how resources are organized to contribute to the department’s core responsibilities and results.

result (résultat)

A consequence attributed, in part, to an department, policy, program or initiative. Results are not within the control of a single department, policy, program or initiative; instead they are within the area of the department’s influence.

Indigenous business (entreprise autochtones)

For the purpose of the Directive on the Management of Procurement Appendix E: Mandatory Procedures for Contracts Awarded to Indigenous Businesses and the Government of Canada’s commitment that a mandatory minimum target of 5% of the total value of contracts is awarded to Indigenous businesses, a department that meets the definition and requirements as defined by the Indigenous Business Directory.

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.

target (cible)

A measurable performance or success level that a department, 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.