Creating Jobs In Southwestern Ontario
McGuinty Government Begins Meetings On Proposed New Fund
Ontario is moving forward to attract new investment and create jobs in Southwestern Ontario.
Earlier this week, the McGuinty government introduced the Attracting Investment and Creating Jobs Act that, if passed, would create the new Southwestern Ontario Development Fund.
Today, Minister of Economic Development and Innovation Brad Duguid, together with local MPPs, held meetings with local business leaders and partners in London, Kitchener and Guelph to seek input about the proposed fund.
In the coming months, the province will meet with local business leaders across the region to help shape the program and ensure that the proposed new fund addresses the unique regional challenges facing the businesses and communities of Southwestern Ontario.
The proposed Attracting Investment and Creating Jobs Act is a key component of the McGuinty government's plan to partner with business to create and protect new and existing jobs for Ontario families, and to strengthen local economies.
- For those unable to attend one of the local meetings about the new fund, comments can be sent to the Ministry of Economic Development and Innovation at: email@example.com
- The new fund would be modelled on the Eastern Ontario Development Fund, which has already helped create and protect over 11,700 jobs and leveraged over $485 million in investment across Eastern Ontario.
- Since October 2003, Ontario employment has increased by 502,000 net jobs, more than 68 per cent of which were full-time.
- In 2010, Ontario was named a top destination for foreign direct investment in North America, second only to California. The province attracted a total of 127 Foreign Direct Investment projects, which created more than 11,200 jobs.
- As a result of the tax changes implemented in Ontario, taxes on business investment were cut in half, making Ontario more competitive and encouraging business growth.
“The McGuinty government is working together with businesses, community leaders and local and regional economic development organizations to create jobs and attract investment. These are the people that drive growth in Southwestern Ontario and the best people to help shape our proposed new fund.”
“Our members have considerable front-line experience and expertise that we can contribute to the consultation process. At the end of the day, we all share the same basic goal - to see the Southwest regional economy be as strong, resilient and innovative as possible. SWEA looks forward to playing its part to make that happen.”