The Canadian government has opened a trade office in Phoenix aimed at increasing 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 said in a statement. “As one of Arizona’s strongest trading partners, this new trade office will foster economic growth and create new opportunities for cross-border collaboration.”
From 2018-2023, there were at least 20 FDI projects from Canada in Arizona, the most from any country. These projects accounted for $1.59 billion in capital investment and 2,677 projected new jobs.
Canadian companies with a presence in Arizona include XNRGY, which recently broke ground on its $300 million manufacturing facility and U.S. headquarters in Mesa, creating over 900 new jobs, and Li-Cycle, which opened its lithium-ion battery recycling facility in Gilbert in 2022.
In 2023, total trade between Arizona and Canada surpassed $5.3 billion. Arizona companies exported $2.7 billion worth of goods to Canada, which is Arizona’s second-largest export market. Arizona imported $2.6 billion worth of goods from Canada.