Canada Opens Trade Office In Phoenix
The Canadian government has opened a trade office in Phoenix to boost trade and foreign direct investment (FDI) between Arizona and Canada, according to a news release.
“The new trade office represents a significant step forward in the Arizona-Canada partnership,” Arizona Gov. Katie Hobbs stated. “As one of Arizona’s strongest trading partners, this new trade office will foster economic growth and create new opportunities for cross-border collaboration.”
Between 2018 and 2023, Canada led in FDI projects in Arizona, initiating at least 20 projects that brought $1.59 billion in capital investment and projected 2,677 new jobs.
Canadian companies with a presence in Arizona include XNRGY, which recently started construction on a $300 million manufacturing facility and U.S. headquarters in Mesa, expected to create over 900 new jobs, and Li-Cycle, which opened a lithium-ion battery recycling facility in Gilbert in 2022.
In 2023, total trade between Arizona and Canada exceeded $5.3 billion. Arizona exported $2.7 billion worth of goods to Canada, its second-largest export market, and imported $2.6 billion worth of goods from Canada.