Investing In People And Skills For A Stronger Economy And A More Prosperous Ontario
The McGuinty government is committed to ensuring that Ontario leverages its greatest asset: the skills of its people.
Supporting A Competitive Auto Industry
Over the next five years, the Ontario Automotive Investment Strategy will provide support for leading-edge auto manufacturing projects that are worth more than $300 million in investment or that create or retain more than 300 jobs.
The $500 million fund is earmarked to provide skills training for our workers, improved environmental and energy technologies and needed public infrastructure. This public investment will leverage up to $5 billion in private-sector investments, increasing prosperity across the economy.
Participating In The Program
Automotive companies will make proposals to the program through the Investment Division of the Ministry of Economic Development and Trade (MEDT). The program provides flexibility for companies to become more innovative and therefore more competitive.
MEDT will work with other related ministries to evaluate proposals that:
- Demonstrate a significant financial investment
- Demonstrate the capacity to create a significant number of jobs and focus on the following vital elements:
- Strategic skills training to keep pace with new technologies and techniques
- Innovation initiatives to develop, test and market new products by adopting and improving new technologies and improving energy efficiency and environmental technologies; and
- Public infrastructure to make way for new manufacturing techniques.
A Key Industry Contributing To A High Quality Of Life
The auto sector is a key contributor to Ontario's economic strength and prosperity. Several key facts demonstrate the sector's importance to the Ontario economy:
- Over 400 auto parts manufacturers employ 93,000 people
- The province's 14 auto assembly plants employ 47,000 people
- About 191,000 people work in auto-related occupations such as sales and other services, and supplier industries such as steel, glass and plastics support thousands more jobs
- As the largest manufacturing sector in the province, the auto sector accounts for 20 per cent of all manufacturing output
- In 2003, the industry represented 45 per cent of Ontario's total exports.