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Elizabeth I agreed to charter a colony in America primarily to expand England's influence and compete with rival powers, particularly Spain and France. The establishment of a colony offered opportunities for trade, resource extraction, and potential wealth through the discovery of new lands. Additionally, it was seen as a way to relieve population pressure at home and provide a fresh start for the poor and unemployed. Ultimately, the venture aligned with her broader goals of strengthening England's position in the world.

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