NEWS RELEASE: Remote. Resource Rich. And Ready. GE Canada releases findings of its “Shaping Economic Growth in Canada’s Remote Communities” Initiative

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For GE’s full report, click here: Towards a Remote Communities Investment Strategy for Canada

FOR IMMEDIATE RELEASE

September 19, 2011

St. John’s, Newfoundland – Elyse Allan, President and Chief Executive Officer of GE Canada, today released the findings of its “Shaping Economic Growth in Canada’s Remote Communities” initiative, launched in January 2011.

Responses from over 500 business stakeholders who participated in 11 cross-country roundtables and an online survey point to the fact that Canada is at a “tipping point” with respect to the development of its resources, largely located in remote communities, and how they will shape the Canadian economy. The report found that 93 percent of respondents believe that remote communities will play an important role in the future of Canada’s economy.

“Canada’s remote communities can pack a powerful economic punch. There is great optimism.
Business investment combined with progressive public policy will unleash significant opportunities for remote communities and for Canada as a nation.” said Elyse Allan.

GE’s initiative formed the basis of the Canadian Chamber of Commerce report: The Business Case for Investing in Canada’s Remote Communities, released earlier today.

“Our collective economic wellbeing and our international competitiveness could well depend upon the public policies adopted today that leverage the economic possibilities of many of these communities and their potential to contribute to our nation’s wealth”, stated Perrin Beatty, President and Chief Executive Officer of the Canadian Chamber of Commerce.

Stakeholder and roundtable participant, Rick Karp, President of the Whitehorse Chamber of
Commerce stated, “We have seen tremendous growth in the Yukon over the past five years, often as a result of strategic partnerships and collaborations. GE’s findings support our optimism about the future and will help drive forward a more business centered approach to our economy.”

The prevailing sentiment based on the report’s research is that Canada has the products the world wants, has great experience as global traders, and has a future that is bright – provided we make the right investments in order to nurture our advantage. Now is the time to drive forward a vision for growth in full partnership with Canada’s remote communities.

In the coming months, GE will continue its work with remote communities and with stakeholders and encourages you to read Remote. Resource Rich. And Ready a summary document based on their findings from this initiative. To join the dialogue and view the reports, please visit www.remotecommunities.ca. The Canadian Chamber of Commerce Report can be found at www.chamber.ca.

Kim Warburton
GE Canada
VP Communications/Public Affairs
905-858-5678
kim.warburton@ge.com

Cara Salci
NATIONAL Public Relations
Senior Consultant
613-233-1699 x6220
csalci@national.ca

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