With five manufacturing facilities, more than 2,800 employees and millions in taxes paid to the City of Stratford each year, Japanese-based businesses have a big impact on the city, Stratford Mayor Martin Ritsma said after he returned from a recent trip to Japan.
"Those numbers testify to the fact that they are major contributors to our economy," he told StratfordToday.
Ritsma travelled with a group affiliated with the Southwestern Ontario Marketing Alliance (SOMA), which represents Perth, Oxford, Elgin and Middlesex counties and 'works with government and the private sector to promote the advantages of locating within the region'.
The mayor and the group met with dignitaries, government and business representatives and toured businesses, mainly in Tokyo and Nagoya, a manufacturing and shipping hub.
"They understand the geopolitical situation between Canada and Japan. We share similar values with democracy, capitalism, green economy - that came up time and again, they want to expand their green economy and understand what are we doing.
"They are looking for stability and trust, which has historically been there between our countries. We are wiling to build on that."
The country is looking to invest $100 trillion Japanese Yen ($928 trillion CAD) globally into different sectors, the mayor said.
"They are looking for places to invest, their economy does well but they are expanding. Canada is looked upon as a great opportunity to spend those dollars."
In addition to the auto sector, advanced manufacturing continues to grow in Japan and Ritsma also had conversations about agri-business, a big economic driver in the SOMA region, producing "far more than it can consume"
There were also conversations about housing, education and public transit - all important factors when Japanese businesses decide where to invest their money, the mayor said.
Ritsma managed to re-connect with a former international high school student, who stayed in Stratford while he was a principal. That student followed through on her dream of becoming a nurse, he said. Ritsma was thankful to make that connection in Japan.
In addition to employing local residents, existing Japanese-based businesses in the city give back through hundreds of thousands of dollars in charitable donations and support for local food banks and events like the annual Stratford Rotary Dragon Boat races.
Ritsma said the companies are major community builders, who hold culture and family values in high regard.
"It is a major reason we go (to Japan). They have made major investments (in Stratford).
"The experience was two-fold, to say thank-you for the contributions to the local economy, but also networking to get more diversity of industry coming here."
