Ontario Implementing Key Recommendations from the Jobs and Prosperity Council
McGuinty Government Boosting Trade Opportunities, Developing Stronger Ties between Business, Entrepreneurs and Research Institutions
Ontario is moving forward with two recommendations from the Jobs and Prosperity Council -- creating Global Exporter Forums and piloting a Commercialization and Innovation Voucher.
The new Global Exporter Forums will help Ontario companies gain access and expand into international markets where demand for exportable goods and services is rising. These forums will:
- Improve export expertise for Ontario's small and medium-sized enterprises.
- Build awareness of opportunities in emerging markets.
- Increase the number of potential exporters.
- Increase the number of exporters targeting new markets.
- Help expand and improve the export knowledge of Ontario's small and medium-sized enterprises.
The first Global Exporter Forum will highlight the Asia Pacific region, including markets in China, Japan, Korea, India and Southeast Asia.
Ontario will also be piloting a Commercialization and Innovation Voucher that will provide eligible small and medium-sized enterprises with resources to work with research institutions to address challenges and improve their productivity, performance and competitiveness.
Supporting business and matching Ontario's strengths with opportunities in global markets is part of the McGuinty government's plan to grow the economy and create jobs for families.
- Ontario is the seventh-largest economy in North America and was ranked third for attracting foreign direct investment projects in 2011, behind California and New York.
- China is Ontario’s and Canada’s second-largest trading partner. In 2011, two-way trade between Ontario and China totalled $29 billion, increasing by more than one-third since 2007.
- In Canada, trade accounts for one in five jobs.
- Employment in Ontario has increased by 411,000 net jobs from the recessionary low in June 2009.
“Our government is committed to growing a strong and diversified economy. To compete and win in the global economy, we need to help our businesses develop more internationally significant processes, target tradable sectors outside of our traditional markets and seize opportunities in emerging markets.”