Ontario's Economy Creating Jobs
McGuinty Government Helps Create and Retain 1,600 Jobs
Ontario is providing the right climate to attract investment and create jobs for Ontario families.
In December alone, the McGuinty government supported the creation and retention of more than 1,600 jobs and attracted more than $2 billion in new investment to the province through 20 different projects.
The supported projects reflect the diversity of Ontario's economy. Examples include:
- Safran Electronics, located in Peterborough, is investing in new equipment and expertise to grow its business that designs and manufactures computer and electronic control systems used for aircraft engines and landing gear.
- Novocol Pharmaceuticals, located in Cambridge, is modernizing its production facility, creating new production areas for dental anaesthesia products, and enhancing its R&D capabilities.
- Strathcona Paper, located in Napanee, is investing in new equipment to improve its energy efficiency and productivity in the manufacture of its 100 per cent recycled paperboard packaging material.
Ontario is providing a strong and stable environment for businesses to grow and create quality jobs. These new jobs will build upon the 124,800 net new full time jobs that have already been created in Ontario so far this year.
Supporting local businesses and fostering made-in-Ontario technologies is part of the McGuinty government's plan to create and support new and existing jobs for Ontario families, and to strengthen local economies.
- Ontario recently introduced the Attracting Investment and Creating Jobs Act that, if passed, would make the Eastern Ontario Development Fund permanent and create the new Southwestern Ontario Development Fund.
- 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 new business investments.
“These companies are growing their businesses and creating jobs for Ontario families. That's a tremendous vote of confidence in Ontario's economy. Partnering with companies to create jobs is helping to strengthen our economy for the long-term.”