• Canada–U.S. trade supported 7.1 million U.S. jobs
• Total Canada–U.S. merchandise trade: $535 billion
• 172,250 Massachusetts jobs are supported by Canada–U.S. trade
• Canada is Massachusetts’ largest foreign export market
• Canadians made more than 604,000 to Massachusetts, spending $245 million
• Massachusetts residents made 560,300 visits to Canada, spending $243 million

A Close Relationship

In 2007, Canada was Massachusetts’ most important international destination, purchasing 13% of the state’s worldwide exports. This significant and dynamic trade relationship between the Bay State and Canada continued to grow last year, with Massachusetts exporting almost $3 billion in goods to Canada and importing $7.7 billion.

Energizing trade

The State of Massachusetts imported nearly $2.6 billion in energy from Canada in 2007, primarily in petroleum and coal products ($1.5 billion) and natural gas ($1.1 billion).

Sand and Sophistication

In 2007, Canadians soaked up all that the state had to offer — beaches and ports, urban delights and the odd Red Sox game — making 604,000 visits to Massachusetts and adding $245 million into the state’s economy. Residents of Massachusetts crossed the border 560,300 times while exploring Canadian cities and outdoor attractions.

Investing in Innovation

Massachusetts is home to a highly active investment and venture capitalist community. In 2007, Massachusetts venture capitalists invested $37.5 million in Canadian companies engaged in innovative industries such as biotechnology, pharmaceuticals, semiconductors and telecommunications. Similarly, Canadian venture capitalists invested $38.2 million in Massachusetts’ companies.

Canada–Massachusetts Success Stories

As illustrated by Great West Life Company Inc.’s recent acquisition of the Boston-based Putnam Investment Trust, Canadian companies continue to form strategic partnerships with Massachusetts’ financial services companies to combine resources and better compete in the global market. This acquisition follows the long-term trend of Canadian investment in venerable Boston-based institutions such as Sunlife Financial’s acquisition of MFS Investment, Manulife’s acquisition of John Hancock Financial Services, and the merger between Vancouver-based Canaccord Capital Inc. and Boston-based Adams Harkness Financial Group to create a new Capital Markets division, Canaccord Adams. Currently, Canadian financial services companies employ over 10,000 people in Massachusetts.

Bridgewater State College will host its first Endowed Chair of Canadian Studies in 2009. The Chair is the first of its kind at a Massachusetts state institution. The college raised $1 million with support from the Killam Trusts and a matching grant from the Commonwealth of Massachusetts. Bridgewater is a longstanding partner of the Government of Canada and has demonstrated its continued leadership in furthering understanding of the relationship between the two countries.

Headquartered in Andover, MA, CGI USA, a subsidiary of the Montreal-based CGI Group, provides end-to-end IT and business process services to clients worldwide. The company currently employs over 2,400 people at their locations in Andover and Canton, MA.

Brookfield Renewable Power (Gatineau, QC) recently located its newly-established U.S. operating headquarters in Marlborough, MA. The company is a significant owner and operator of hydropower in the New England region, including the Bear Swamp/Jack Cockwell Pumped Storage facility — Massachusetts’ 8th largest power project. Brookfield Renewable Power will create 100 new jobs in 2008-2009.

Science and Technology

As evidenced by a recent research agreement between Dalhousie University’s Brain Repair Centre in Halifax, NS and Harvard University’s Center for Neurogeneration Research at McLean Hospital, the state’s emphasis on sectors such as life sciences, robotics, nanotechnology, photonics and optics, clean energy/technology and ocean and marine technology offers numerous opportunities to increase research collaboration and commercialization with leading Canadian institutions and technology companies.

June 2008

Tourism

• 604,000 Massachusetts visits by Canadians, $245 million spent
• 560,300 Massachusetts visits to Canada, $243 million spent

Jobs

• Massachusetts jobs supported by Canada–U.S. trade: 172,250

Merchandise Trade

• Exports to Canada: $3 billion
• Imports from Canada: $7.8 billion
• Bilateral trade: $10.8 billion
• Largest export market: Canada

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Merchandise trade and tourism figures are from Statistics Canada, converted at the rate of US$1.00=C$1.0749. Merchandise trade is based on total exports and imports for the year 2007. Job numbers are based on 2005 data from a 2006 study commissioned by the Canadian Embassy. Canada’s export ranking is from the World Institute for Strategic Economic Research (WISER). All figures are in U.S. dollars. Figures may not add up due to rounding.