Ontario Attracting High Tech Jobs
Tax Cuts And Credits Help Ontario Become Hub for Digital Media Jobs
Office of the Premier
Ontario's plan to cut business taxes and offer tax credits is helping to create the jobs of the future by making the province a great place to launch innovative new companies.
The Premier today visited Polar Mobile -- a company that builds and designs applications that run on mobile devices. Started in 2007 in Waterloo, it has quickly grown to become a world-leader in helping entertainment, sports and non-profit organizations reach new audiences. The company has doubled in size in the last year and employs 40 Ontarians, up from 20 a year ago.
Recent tax relief for Ontario businesses includes:
- Reducing overall business taxes by 28 per cent over 3 years
- Reducing small business income taxes by 18 per cent
- Eliminating the small business deduction surtax entirely
- Enhancing the Ontario Interactive Digital Media Tax Credit for labour, marketing and distribution expenses.
Ontario's comprehensive tax package is part of the Open Ontario Plan, a five-year initiative to create new jobs, boost economic growth and protect the progress that Ontario families have made in their schools and hospitals.
- Ontario has regained 87 per cent of the jobs lost during the recession.
- In 2008, Ontario's information communications technology sector was worth $28.4 billion, accounting for 48 per cent of the Canadian total.
Ontario has the people, skills and businesses to thrive in the emerging economy. Our tax reforms are building a new foundation for growth and helping create new, good jobs for Ontarians."
We are proud to be part of a sector that is at the forefront of creating new, high-tech jobs. Ontario's tax credits have created a good climate for our company to grow, and that's one of the reasons why we chose to establish and keep our headquarters here in Toronto. Mobile apps can be created anywhere in the world; it is this region's competitive tax environment and creative talent graduating from colleges and universities that make Ontario a natural choice for us."