Ontario Building Globally Competitive Businesses
Premier Wynne Highlights Initiatives in Remarks to Business Council of Canada
Ontario is building globally competitive businesses and helping to create high-value jobs by investing in innovation, helping businesses scale up, and cutting red tape across the province.
Premier Kathleen Wynne today addressed the Business Council of Canada, a not-for-profit, non-partisan organization of CEOs of Canada's leading companies. She detailed the government's $400-million Business Growth Initiative and highlighted other ways her economic plan is making Ontario the best place in the world to do business.
The Premier spoke about how the province's competitive tax system, highly skilled and trained workforce, and stable financial markets are attracting global companies to set up or expand in Ontario. Recent examples include:
- Toyota invested $421 million to upgrade its motor vehicle assembly plants in Cambridge and Woodstock, retaining 8,000 jobs.
- Google Canada expanded its workforce in Waterloo from four employees 10 years ago to 400 today, and its facility there has capacity for 1,000 employees.
- During Premier Wynne's recent trade mission to India, DataWind announced a new Netbook tailored for the Indian market that the wireless web developer designed at its headquarters in Mississauga.
The province is also supporting a new wave of made-in-Ontario success stories. These include Shopify, a leading e-commerce platform; Newterra Group, a manufacturer of advanced water treatment solutions; and Morgan Solar, a developer of technologies that make solar energy systems more effective. And Ontario is working with postsecondary institutions to strengthen their opportunities to collaborate with businesses of all sizes, including expanding the number of co-op programs and providing fellowships so top graduates can be placed in scale-up companies.
The Premier also outlined the Red Tape Challenge launched March 29. The innovative online consultation tool asks people across Ontario to help identify and eliminate regulatory duplication, lessen compliance burdens, shorten response times and make it easier for businesses and citizens to interact with government.
The Red Tape Challenge will focus on six business sectors over the next two years. It launched in March with auto parts manufacturing, and will then focus on food processing, financial services, mining, chemical manufacturing and forestry.
Strategically partnering with businesses and reducing regulatory burden are part of the government's economic plan to build Ontario up and deliver on its number-one priority to grow the economy and create jobs. The four-part plan includes investing in talent and skills, including helping more people get and create the jobs of the future by expanding access to high-quality college and university education. The plan is making the largest investment in public infrastructure in Ontario's history and investing in a low-carbon economy driven by innovative, high-growth, export-oriented businesses. The plan is also helping working Ontarians achieve a more secure retirement.
- Employment in Ontario has increased by 86,000 jobs on a year-over-year basis, more than in any other province. All of the gains have been in full-time work.
- The 10-year, $2.7-billion Jobs and Prosperity Fund is helping create and retain more than 17,000 jobs and attracting more than $1.5 billion in investments.
- Since October 2012, Ontario has committed to invest over $88 million through the Southwestern Ontario Development Fund, leveraging private-sector investment of more than $1 billion. These investments are helping to create over 4,000 new jobs and retain more than 19,000 existing jobs in the region.
- Ontario’s 2015 Burden Reduction Report identified a total of $44 million in savings, building on $6 million identified in the 2014 report. This puts the province on track to reach its target of reducing the business burden by $100 million by the end of 2017.
- In just 10 years, Ontario has become a North American leader in the development, use and manufacturing of clean energy.
“In today’s challenging global environment, our economic plan has positioned Ontario’s businesses well. Jobs are being created and people are starting to feel more confident about the future. But it’s not enough. We need to continue creating the conditions that businesses in Ontario need in order to grow and create good jobs, which is what our plan is doing by building on our competitive advantages and strengthening our partnerships with business.”
“To drive economic growth, Ontario needs to continue to support business by lowering the cost of doing business, helping more companies to scale up, and supporting innovation. We are committed to assisting our business leaders to create the jobs of the future.”