McGuinty Government Invests In Jobs And Innovation

Ontario Premier Dalton McGuinty today announced the first in a series of new investments to help manufacturers develop cutting-edge technologies that will attract investment, help Ontario compete and create jobs that support Ontario families.

"Advanced manufacturers choose Ontario because our workers are the best in the world," said Premier McGuinty. "We're proud to partner with these companies to help them discover new ideas and turn those ideas into exciting innovations and services."

Premier McGuinty announced that the government will provide FAG Aerospace Inc. of Stratford with a $1.78 million loan for research and development into improving the manufacturing of precision bearings for the aerospace industry. The project will help create or retain 438 jobs.

The project is part of round two of the government's Advanced Manufacturing Investment Strategy (AMIS). The $500-million strategy supports investments in technology and innovation by providing repayable loans that are interest free for up to five years.

More investments will be announced across the province in the weeks to come.

"Our government is taking action to advance Ontario's manufacturers to a higher level of technology and skills development," said Economic Development and Trade Minister Sandra Pupatello. "These new projects signal our long-term commitment to make Ontario a global leader in advanced manufacturing, creating high-value jobs and a strong economy."

"Today's announcement sends the message that innovative companies looking to invest should choose Ontario," said Patti Watson, president of the Economic Developers Council of Ontario. "The government's support of a competitive manufacturing industry complements the work of our members to promote job creation and economic growth in communities across the province."

Investing in advanced manufacturing is just one example of how the McGuinty government is working on the side of businesses and families to strengthen Ontario's economy.

Other initiatives include:

• Encouraging strong job creation, with 321,000 net new jobs since taking office
• Creating the Ministry of Research and Innovation to help support the discovery, funding and marketing of new ideas and technologies
• Creating the Ministry for Small Business and Entrepreneurship to help strengthen our economy
• Helping generate over $7 billion in automotive investments that retain or create thousands of long-term, high-value jobs.

The government is now accepting proposals for AMIS round three, with a submission deadline of April 12, 2007. For further information, including eligibility requirements and an application package, please visit www.ontariocanada.com (click on the "Programs and Services" link).

"Ontario's advanced manufacturing sector is one of the pillars of our economy," said Premier McGuinty. "By investing in leading-edge manufacturing, we're making sure Ontario remains one of the most competitive places in the world to invest."