Nine Metro Vancouver cities are joining forces to use the Olympic spotlight to attract new businesses to invest in the region.

Vancouver, Surrey, Richmond, Coquitlam, Maple Ridge, Port Moody, New Westminster and the City and District of North Vancouver have signed on to the $1.5-million 2010 Business Program.

More than half the money will come from the federal government, but most of the cities are expected to contribute $20,000.

The idea is to find corporate executives on the cusp of making big spending decisions, lure them to Vancouver during the Olympics, ply them with Games tickets and exclusive access and then try to cement deals that will bring jobs and new money to the region.

The civic and federal money will pay to host two decision makers each from 50 small and mid-sized international firms for four days to meet with B.C. officials, business leaders and industry associations.

Participants must pay their own travel costs to get here, but are then promised an "extraordinary VIP Olympic experience" that will include access to the Olympic opening and closing ceremonies, among other events.

Civic leaders say it's more than just a corporate party at taxpayers' expense.

"The whole premise of the entire thing is to attract more foreign investment and to attract employment," said Surrey Mayor Dianne Watts, who called it a rare opportunity to showcase the region's strengths and forge business connections.

Olympic tickets for the visiting executives are expected to come through Vanoc as well as out of the allotments of some municipalities.

"This is not just blue skying to see what company might want to come here for four days during the Olympics," said Richmond Mayor Malcolm Brodie.

He said firms are being targeted that are close to making a major economic investment somewhere else that could be tipped in favour of B.C. instead.

"The hope is this would be the final touch to persuade them, while the focus of the world is upon us, that this would be the place," Brodie said.

Firms are being targeted in a variety of sectors, including environmental technologies, renewable energy, green building, new media and gaming, creative sectors, aerospace, agri-food and biotechnology.

The project is being headed by Metro Vancouver Commerce, an agency of local cities to advance economic development that has adopted the slogan "Powerhouse paradise" and plays heavily on the region's livability and strategic advantages.

It initially started with a union between Richmond, Vancouver and Surrey, but has expanded to include the six other municipalities.

But not everyone's on board.

Burnaby's council has declined to participate, leaving a big hole in the midst of the participating cities.

"We're just not that loose with taxpayers' money to contribute to something that wasn't going to have a big result," said Burnaby Coun. and acting mayor Sav Dhaliwal.

He said civic spending to wine, dine and entertain corporate elites wouldn't have gone over well with local residents.

Dhaliwal said Burnaby does believe it's important to court business, but added it's a job to be done year-round, "not just in the two or three weeks of the Olympics."