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Creating the Jobs and Economy of Tomorrow

Backgrounder

Creating the Jobs and Economy of Tomorrow

Ministry of Finance

The Long-Term Report on the Economy identifies demographic, economic and employment trends in Ontario that will present future challenges and opportunities. The government's strategic investments in education, training and business innovation are building inclusive growth today that will create prosperity for years to come. 

Ontario's actions to address these trends and prepare for the jobs and economy of tomorrow include:

Developing a highly skilled workforce

  • Creating world-class education by investing $3 billion over 10 years in college and university infrastructure.
  • Helping more students attain a college or university education through the Ontario Student Assistance Program.
  • Investing more than $1 billion each year in Employment Ontario training and other services for over one million Ontarians, including youth, people with disabilities and seniors.
  • Providing up to 150,000 youth with work opportunities and skills development through the renewed Ontario Youth Jobs Strategy -- including the Youth Job Connection program to assist those who face multiple barriers to employment.
  • Matching qualified job seekers with employers through the sector-focused SkillsAdvance Ontario pilot project and investing close to $176 million to offer a range of grant programs that support apprentices, employers and training providers.
  • Investing about $100 million annually to support the community settlement and workforce integration of immigrants and refugees.

Supporting business innovation and growth

  • Helping create and retain more than 37,500 jobs and attracting more than $7.4 billion in investments through the 10-year, $2.7-billion Jobs and Prosperity Fund.
  • Making the largest infrastructure investment in hospitals, schools, public transit, roads and bridges in the province's history -- stimulating competitiveness and attracting business investment and talent to the province.
  • Encouraging innovation such as new and transformative technologies, and implementing the five-year, $400-million Business Growth Initiative to help companies capitalize on opportunities and scale up for future growth.
  • Maintaining a competitive tax environment through business tax reforms that have included Corporate Income Tax rate cuts and eliminating the Capital Tax. 

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