Attracting Investment and Creating Jobs in Southwestern Ontario
McGuinty Government Announces New Development Fund to Help Local Communities
Ontario is moving forward to help businesses and communities in southwestern Ontario attract new investment and create jobs with a proposed new development fund.
Premier Dalton McGuinty was in London today at Digital Extremes -- a video game developer -- to announce that the government will be bringing forward legislation to create a new and permanent Southwestern Ontario Development Fund.
The proposed new fund would build on the strengths of southwestern Ontario and help address local economic development challenges in a time of global uncertainty. The fund will attract investment and help businesses move forward with new projects and investments to help them create the jobs of tomorrow.
Partnering with business and supporting local economic development projects are key elements of the McGuinty government's plan to create jobs for Ontario families.
- The new fund would be modeled on the Eastern Ontario Development Fund, which has already helped create and protect over 11,700 jobs and leveraged over $485 million in investment across Eastern Ontario.
- The Financial Times of London named Ontario a top destination for foreign direct investment in North America in 2010.
- Digital Extremes employs almost 170 people including graphic designers, artists and computer programmers.
“The fragile global economy has created uncertain times for families in southwestern Ontario. We're committed to working together with businesses and communities to bring new opportunities and new jobs across the region, and the Southwestern Ontario Development Fund would help us to achieve that goal.”
“We recognize the unique challenges facing southwestern Ontario. Regional economic development programs have proven effective in attracting investment and creating jobs and would help the residents of London through these challenging economic times.”
“This program would help create jobs for the people of London and improve economic development for southwestern Ontario. Strengthening the local economy will also help protect healthcare and education services that London families rely on.”