The economic development corporations from Sault Ste. Marie, Ont., and its sister city in Michigan have signed a formal agreement that establishes a framework for collaborating on shared economic development projects.
The memorandum of understanding also establishes a Joint International Relations and Economic Growth Committee, which will focus on collaborative initiatives in manufacturing, information technology, energy, and transportation.
For instance, if an American company is looking to set up a location north of the border, or if a Canadian company is looking to expand into the U.S., the two organizations would work together to attract the firm. Ultimately, the partnership is designed to stimulate economic growth and create jobs in the region.
“It is always better to work together for a common goal. In the end, both communities will benefit from this enhanced cooperation,” said Don Mitchell, president and board chair of the Sault Ste. Marie Economic Development Corporation in Ontario. “The formal agreement between our two SSMEDCs will help foster additional economic partnerships between our communities.”
The memorandum of understanding is a follow-up to a sister city agreement signed by the two cities in 2012. The accord, which was the first of its kind for border cities in North America, set the groundwork for collaboration to take place.