Bonjour! Choosing the perfect location for business expansion is an important decision, especially when entering new markets or regions.
We spoke with Sean Smith, Market Development Manager at Waterloo EDC, to find out why French companies are choosing Waterloo Region. Sean highlights the region’s top talent from universities like the University of Waterloo, its strategic location in the Toronto-Waterloo Corridor and the complimentary support services offered by Waterloo EDC.
Here’s a full re-cap of our conversation:
Q: What unique value does our region offer French companies considering expansion?
SMITH: When I think of Waterloo, several key things stand out. Firstly, our incredible talent pool is consistently ranked among the highest in quality and cost-effectiveness.
This includes a pipeline nurtured by three world-class institutions: Conestoga College, Wilfrid Laurier University and the University of Waterloo. With approximately 100,000 students enrolled at any given time, bolstered by co-op programs, this pipeline continuously fuels this economic powerhouse.
Secondly, our strategic location within the Toronto-Waterloo Corridor is important. It’s Canada’s economic hub, with over 15,000 tech companies and 300,000 tech employees. Proximity to Toronto provides easy access not only to the core Canadian market but also to broader North American markets, including major US cities within a day’s drive or short flight.
Thirdly, our economic diversity is a compelling draw. We’re known for our thriving tech sector, but we also excel in aerospace, automotive, robotics, automation, cybersecurity and AI. Major players like Toyota are attracted to our world-class community, supported by a robust ecosystem of nearly 100 companies in automotive and related industries.
Lastly, our region offers extensive support and research opportunities through institutions like the Institute for Quantum Computing, Perimeter Institute for Theoretical Physics, Accelerator Centre, Communitech, Velocity and the Waterloo Centre for Automotive Research.
Q: What services or support does Waterloo EDC offer to French companies that want to expand here?
SMITH: Expanding into a new region is a significant decision with a big impact on the business. A key aspect of our role is to help companies determine if Waterloo is the right fit for them. This involves working closely with them during the evaluation process to ensure Waterloo aligns with their needs and goals.
Once a company decides to come to the region, our focus shifts to helping them put the important pieces of the puzzle together for a successful landing.
Key steps include connecting them to recruitment resources, navigating the immigration process, understanding legal considerations for setting up a business, figuring out available incentives and finding the right location.
Our job is to connect them with the resources and local experts that will help them in all these areas.
Q: Can you share examples of French companies that have relocated or expanded to the region?
SMITH: There’s a strong foundation of French companies here in Waterloo. One that comes to mind is NAVBLUE, an Airbus company and global leader in flight operations solutions. They chose Waterloo for its availability of tech talent and engineering expertise.
Another recent example is OVHcloud, which is one of the world’s largest data centres with providers around the world. They expanded to the region due to the strategic advantages of the Toronto-Waterloo Corridor, access to talent and the overall incredible strength of the ecosystem.
It’s an absolute pleasure to have both these companies here, and we certainly welcome other French companies and want to help them in any way we can.
Q: How do you measure the success of your efforts in developing the France market strategy for Waterloo EDC?
SMITH: We need to make sure that we approach the French market methodically and intelligently. Our initial focus is on strengthening Waterloo’s brand awareness in the French market and ensuring that Waterloo is a key part of the conversation for French companies looking to expand.
What it really comes down to is, is the company successful when they come to Waterloo? Did we make the landing process simple? Did we help them with their growth? Have we built a relationship where they feel that they can come to us at any point and get the support they need? I think that is a key measure of success.
Our ultimate goal is to generate meaningful job opportunities in Waterloo Region. In a few years, we want to be certain that our efforts have contributed to job creation and economic growth in the region, benefiting both the companies and the local community.
We want French companies to be incredibly successful here. It’s a win for everyone: for them, for us and for the community. Making sure that we have that continuity, that relationship and that strength of bond is really important.
Q: Are you planning any visits to France? And why is it important for you to meet with companies in person?
SMITH: Yes, I plan on being in France on a regular basis, at least three or four times a year. The first trip will be this fall. Planning these visits takes time to ensure they are effective and involves meeting with the right stakeholders.
Nothing compares to in-person communication, especially considering the nature of this decision for businesses. It’s important to spend the necessary time with companies, providing them with the information they need for informed and thoughtful decisions.
Q: What similarities between Canada’s and France’s business environments make it easy for French companies to land in Waterloo Region?
SMITH: Like Waterloo, France has amazing companies in sectors such as tech, automotive, aerospace, life sciences and others. They need great talent to continuously grow and innovate and that’s where Waterloo really complements the French market.
Additionally, French companies looking to expand in North America will find that Waterloo’s close proximity to Toronto and the US is ideal. Our community is very welcoming and supportive, making it easy for French companies to connect with the community.
Get in touch with Sean to explore opportunities for business growth in Waterloo Region, whether you’re a French company looking to expand or need help establishing a presence here.