Go North Investor Program
Announced in the 2004 Ontario Budget, the GO (Government of Ontario) North Investor Program is designed to market Northern Ontario's inherent strengths across the continent and around the world.
It is an integral component of the government's Northern Prosperity Plan - a targeted and co-ordinated approach to help northern communities attract and retain investment and jobs.
The GO North Investor Program will foster lasting prosperity in the North by investing $19 million over this and the next three years to attract new "anchor" investments to northern communities.
With a focus on marketing, selling and servicing investment opportunities, it will complement the proposed Northern Ontario Grow Bonds initiative by targeting larger-scale investments that promote innovation and growth in existing sectors, such as mining and forestry, as well as new sectors for the North.
The initiative includes:
- A targeted marketing and investment attraction component aimed at major potential investors outside Ontario
- A northern communities investment readiness component aimed at northern communities
- A co-ordinated strategic response component to develop investment opportunities.
The GO North Investor Program will tap unique northern potential and exploit opportunities for new trade patterns, such as those in the U.S. midwest and other appropriate international markets.
Its Targeted Marketing and Investment Attraction component will target such investments as value-added resource-related industries, innovative technologies, large-scale tourism facilities and research-intensive investments that build on northern strengths.
A critical factor in the GO North initiative will be the ability of northern communities to establish a competitive position in attracting anchor investments by having the necessary tools and information available.
The Northern Communities Investment Readiness component will work with northern communities to help them identify investment opportunities and ensure that they are well equipped to respond to potential international investors.
Another component of the program, the co-ordinated strategic response, will provide a GO North team to identify, respond to and develop investment opportunities.
The co-ordinated response will offer a "one-stop window" for potential investors. Working with all levels of government, the GO North team will highlight Northern Ontario's competitive strengths and co-ordinate site visits to Northern Ontario.
This initiative builds on other Northern Prosperity Plan initiatives underway, such as:
- $256 million for the Northern Highways Program
- A renewed Ontario Northland Transportation Commission (ONTC)
- Northern Development Councils
- The Ontario Mineral Industry Cluster Council, which is working to foster a rising standard of living from Ontario's mineral industry and win more prosperity for communities.