Richmond ranks in Top 10 fDi "Cities of the Future", again

RICHMOND, BC, April 8, 2013 /PRNewswire/ - Richmond has been named among the top 10 "American Cities of the Future" by fDi Magazine, for a second consecutive edition of the rankings. Vastly surpassing its 2011/2012 ranking in a single category, Richmond ranked highly in three out of eight categories for cities of its size in the 2013/2014 edition. From the over 400 cities evaluated, Richmond placed 3^rd overall among small cities in the Americas - a category that represents a combination of foreign direct investment criteria. Best Business Friendliness and Best FDI Promotion Strategy were the other two individual categories in which Richmond placed in the top 10.

"Being recognized by fDi Magazine as one of the most competitive and business friendly jurisdictions of its size in the Americas for a second year in a row is an accomplishment we're very proud of," said Richmond Mayor Malcolm Brodie. "We continue to work with the business community to develop and grow our strategic sectors that benefit from our city's location, economic, natural and human assets. Our commitment to a strong local economy with global reach and presence is evidenced by our ongoing investments in the infrastructure, quality of life and talent that defines our community."

The ranking follows the recent launch of Richmond's full suite of business development initiatives. A comprehensive economic development website, (www.businessinrichmond.ca), a proactive business retention and expansion program targeting key growth sectors, a central point of contact for businesses to access City Hall, and enhanced two-way communication via new social media channels (www.facebook.com/RichmondEconomicDevelopment, www.twitter.com/RichmondEDO) are some of the programs now in place to service business and investment clients.

The first "Cities of the Future" ranking placed Richmond among the top 10 in the "Best Infrastructure" category for cities of its size. The combination of investments in transportation and logistics infrastructure and the city's advantageous position on the west coast of Canada and as a gateway to the Asia-Pacific continue to attract and retain businesses with global supply chains and markets. A diverse base of businesses in sectors such as aerospace and aviation, logistics, agriculture and food production, information and communication technologies, and advanced manufacturing have chosen to locate in Richmond due to its competitive business costs, favourable tax environment, inventory mix of commercial, office, industrial, and agricultural space, and enhanced local services to the business community.

The fDi (foreign direct investment) "Cities of the Future" ranking shortlists over 400 cities across North and South America of different sizes in different categories. Categories include "Quality of Life," "Business Friendliness," "Cost Effectiveness," " Infrastructure," "Human Resources," "FDI Promotion Strategy" and "Economic Potential," each ranked for various sizes of cities. Cities are judged by a panel examining expert opinion and independent data. fDi is a division of Financial Times Ltd., providing leading industry insight on globalisation and foreign direct investments intelligence.

To view other rankings and categories, please visit www.fdiintelligence.com/Rankings.

SOURCE City of Richmond