Ontario Secures More Investments in China
Projects Valued at About $442 Million Will Create up to 340 Jobs in Ontario
Ontario secured significant new investments from Chinese partners today, as part of Premier Kathleen Wynne's first trade mission to China. These investments will create jobs in several communities, including Toronto, Ottawa, Markham and Niagara Falls.
Greenland Group, a global property development company based in Shanghai, will build a pair of residential towers in downtown Toronto. Construction on the $400-million project is scheduled to begin within six months and will create up to 200 jobs.
Shanghai Yuyuan Tourist Mart and Mennie Canada Ltd. will set up a joint venture in Toronto, investing $5 million in four Chinese restaurants over the next three years. This investment will create 80 jobs in several locations in Ontario, including Toronto, Markham and Niagara Falls.
ZTE Canada, a global telecommunications equipment company, plans to invest $17 million over the next three years in an Ottawa research and development centre. This is expected to create 40 new jobs.
EHC Global and Shanghai Wei Long Enterprise will partner in the design, manufacture, sales and service of components for the global lift industry, which includes elevators and escalators. The value of the contract could reach $20 million over the next three years, and will create up to 20 new jobs.
Today, the Premier also met with Ai Baojun, Vice Mayor of Shanghai. Ontario and the Science and Technology Commission of Shanghai Municipality signed a Memorandum of Understanding today to promote increased R&D and commercialization partnerships.
Attracting new investments and helping the province's businesses compete globally is part of the government's economic plan for Ontario. The four-part plan is building Ontario up by investing in people's talents and skills, building new public infrastructure like roads and transit, creating a dynamic, supportive environment where business thrives, and building a secure savings plan so everyone can afford to retire.
- Ontario delegate organizations signed three more collaboration agreements with Chinese partners today to advance research in health care technologies.
- Ontario has the third-largest largest Information and Communications Technology (ICT) sector in North America.
- Ontario was ranked number one for greenfield capital investment in North America during 2013, ahead of Texas and California, both of which have much larger populations.
“I want Ontario to be the best place in the world to do business. My government is committed to building on today’s progress by exploring new ways to connect business leaders in priority markets like China with investment opportunities in Ontario.”
“Companies from China and around the world recognize that Ontario is the best place to invest for value-added access to North American markets. Our government continues its focus on the fundamentals that make businesses choose Ontario: a skilled workforce, competitive business costs, a climate of innovation and modern, efficient infrastructure.”
“Steady and continued economic growth is part of the reason an increasing number of global companies choose to invest in Ontario. Our highly skilled and diverse workforce is attractive to foreign investors, and this creates jobs here in Ontario. Today, China has confirmed that our investment in our greatest asset, our people, is an investment in a stronger Ontario.”