Ontario Investing In Advanced Automotive and Transportation Sectors
Business Growth Initiative to Support Innovation and Competitiveness
Ontario is putting its Business Growth Initiative into action by making critical investments to strengthen competitiveness and support innovation in the automotive and transportation sectors.
Today Minister of Economic Development, Employment and Infrastructure Brad Duguid was at Dynaplas Ltd., an auto parts company in Scarborough, to highlight Business Growth Initiative investments focused on building a world-leading automotive and transportation innovation ecosystem in Ontario. These include:
- The Automotive Supplier Competitiveness Program, a $5-million, two-year program to help smaller auto parts companies adopt the latest technologies and close technological gaps. This will help companies increase their productivity, adapt quickly to market changes and take advantage of new opportunities with larger manufacturers.
- Committing $10 million to the Canadian Urban Transit Research and Innovation Consortium, a centre to support R&D and commercialization of technologies -- such as lightweighting and autonomous software -- in partnership with the federal and Quebec governments.
Ontario's five-year, $400-million Business Growth Initiative will grow the economy and create jobs by promoting an innovation-based economy, helping small companies scale up and modernizing regulations for businesses.
Supporting a globally competitive auto sector is part of the government's plan to build Ontario up and deliver on its number-one priority to grow the economy and create jobs. The four-part plan includes investing in talent and skills, including helping more people get and create the jobs of the future by expanding access to high-quality college and university education. The plan is making the largest investment in public infrastructure in Ontario's history and investing in a low-carbon economy driven by innovative, high-growth, export-oriented businesses. The plan is also helping working Ontarians achieve a more secure retirement.
- Dynaplas is a high-performing, global automotive parts company that specializes in lightweight solutions and conducts both its R&D and manufacturing in Ontario.
- The auto industry contributes around $16 billion annually to Ontario’s GDP.
- Ontario is the first Canadian province to allow on-road testing of automated vehicles and is home to almost 100 companies and institutions involved in connected vehicle and automated vehicle technologies.
- Ontario is already investing $20 million to build more public charging stations for electric vehicles. The government has also introduced a new Electric Vehicle Incentive Program that will reduce GHG emissions and make it easier for Ontarians to switch to electric vehicles.
“To drive economic growth, Ontario businesses need to take their firms to the next level and embrace the technologies of tomorrow. By lowering the cost of doing business, helping more companies to scale up, and supporting innovation, we’ll produce global frontrunners that lead technological disruption and position Ontario to win the jobs and investments of the future.”
“The global economy is evolving at a rapid pace, and Ontario must adapt to these changes and accelerate the growth of our knowledge-based economy to remain competitive. The Business Growth Initiative will mobilize more researchers, entrepreneurs and firms to develop, commercialize and export made-in-Ontario technologies. With one of the most highly-skilled and well-educated workforces in the world, Ontario has what it takes to strengthen our innovation pipeline and bring new ideas from the lab into the marketplace.”
“The government’s number-one priority is growing the economy and creating jobs. Our plan is to reduce business costs, keep tax rates competitive, build strategic partnerships, and help businesses go global. The Business Growth Initiative will help us to modernize business regulations, lower business costs and support more leading Ontario firms going global.”
“We identified a gap, worked with this government to create the right vehicle to address it and are looking forward to working in partnership with them to deploy this critical modernization funding. Small and medium-sized companies face increasingly mobile competition and this program allows for them to develop the tools required to compete most efficiently.”
“Dynaplas is committed to continuing to grow our manufacturing capacity and to develop our industry-leading precision plastic technology in Ontario. We currently utilize this technological advantage to ship to automotive customers around the world, including countries in Asia, South America and Eastern Europe. Today’s announcement is most welcomed as our government’s support and cooperation is very important in helping us advance our technologies to ensure we continue to be the global leader in our field.”