Repost: Premier Wynne Concludes Successful Mission to California
Ontario Showcased as Leader in ICT, Film, Cleantech and Climate Change
Premier Kathleen Wynne concluded a successful trade mission to California, where she visited San Francisco and Los Angeles to showcase Ontario's leadership in information and communications technology (ICT), film production, cleantech and climate change.
While in California, the Premier met with investors and leaders from the technology sector to discuss opportunities to better connect Ontario and California. She promoted Ontario as an ideal place for investment, with a highly skilled workforce, strong culture of innovation and competitive business environment, making it the best location for the next generation of technological breakthroughs.
In Los Angeles, Premier Wynne met with executives from the Motion Picture Association of America to strengthen ties with film industry leaders and promote Ontario as an ideal place for film production. Ontario has one of the most effective cultural media tax credit programs nationally and internationally.
The Premier also participated in a cleantech panel discussion in Los Angeles to showcase Ontario's cleantech innovations, world-class technology sector and strong commitment to environmental stewardship. Ontario is a global leader in cleantech and a natural partner for jurisdictions like California that are confronting water challenges.
Before the cleantech panel discussion, Ontario announced that LA Cleantech Incubator (LACI) signed an MOU with MaRS Discovery District in Toronto. This important partnership between the Ontario and California innovation institutes is expected to lead to more support for cleantech entrepreneurs, including the development of marketing ideas and investment opportunities.
The Premier met with California Governor Edmund G. (Jerry) Brown Jr., to continue discussions on climate change, including Ontario's plans to move forward with a cap-and-trade system linked to California's under the Western Climate Initiative and her plans to attend COP21 in Paris this fall. The Premier also met with Los Angeles Mayor Eric Garcetti and the two leaders discussed shared priorities and possible areas for future collaboration.
Attracting new investments and helping the province's businesses compete globally is part of the government's plan to build Ontario up by investing in people's talents and skills, making the largest investment in public infrastructure in Ontario's history, creating a dynamic, innovative environment where business thrives, and building a secure retirement savings plan.
- Ontario’s R&D incentive programs are among the most effective in the world, and can reduce the after-tax cost of every $100 spent in R&D to between $61 and $42.
- Ontario has the fastest-growing cleantech sector in Canada — with $8 billion in revenue, 3,000 companies and 65,000 employees.
- Ontario is a major centre of cleantech finance. The Toronto Stock Exchange (TSX) and TSX Venture Exchange list more cleantech and renewable energy companies than any other exchange in the world. These 116 companies have a total market capitalization of $27 billion.
- Premier Wynne is departing California on November 4 to lead a trade mission to China.
“In 2014, for the second year in a row, Ontario was recognized as the North American leader in attracting foreign direct investment. But we can still do better. My first mission to California gave me the opportunity to meet face-to-face with leaders and investors from San Francisco and Los Angeles to encourage more companies to invest in our province.”