Ontario Making the Automotive Sector Open for Business and Open for Jobs
Premier Doug Ford reinforces Budget commitment to help create good jobs and fight for Ontario workers
MARKHAM — Ontario's government is providing real relief to job creators and making Ontario open for business with the introduction of the 2019 Budget, Protecting What Matters Most. Today, Premier Doug Ford joined Todd Smith, Minister of Economic Growth, Job Creation and Trade, at Veoneer Canada Inc. to congratulate them on forecasting the creation of 300 new jobs and to reinforce the government's commitment to help businesses invest and grow in Ontario.
"Congratulations to Veoneer for making this investment in our province. Job creators are getting the message that Ontario is open for business and open for jobs," said Ford. "With our Ontario Job Creation Investment Incentive bringing real relief to job creators and the Driving Prosperity strategy making our auto industry more competitive, we are making Ontario a leading destination for investment and job creation."
Veoneer is the world's largest company solely focused on safety electronics, advanced driver-assistance systems, and collaborative and automated driving. Veoneer's team of engineers and production workers is changing the way people drive and making roads safer.
"Our government is committed to creating an environment where businesses, like Veoneer, can invest, grow and create good jobs right here in Ontario," said Smith. "That's why we are cutting red tape, reducing business costs and acting on our 10-year plan for the auto sector. There's never been a better time to invest in Ontario."
The Ontario government's 2019 Budget, Protecting What Matters Most, is focused on getting Ontario back on track and making it easier for businesses to grow and create jobs across the province by:
- Saving businesses $3.8 billion in corporate tax relief over six years through the Ontario Job Creation Investment Incentive and $5 billion total in 2019, along with taking other actions to reduce costs for businesses and support job creation;
- Modernizing Ontario's business support programs through the Open for Jobs Blueprint, including reviewing grant programs to improve regional economic development;
- Reducing regulatory barriers through the Open for Business Action Plan (saving businesses over $400 million in ongoing compliance costs);
- Implementing the 10-year Driving Prosperity auto sector plan, investing $40 million over the next three years; and
- Fighting the federal government's carbon tax.
"Markham is at the centre of Canada's largest automotive innovation hub and companies like Veoneer are leading the charge," said Markham Mayor Frank Scarpitti. "This is the way of the future and the talent we have here is transforming the way we do business and the way we use the latest technologies. As auto companies continue to invest in our region and in our province, at the City of Markham we will continue our efforts to attract and retain skilled workers and engineers who are transforming the auto industry."
"After 15 years of job-killing red tape and tax schemes, Ontario is ready to be the economic engine of Confederation again," said Ford. "And in Ontario, open for business must mean open for jobs."
- Protecting What Matters Most is the government's proposed plan to balance the budget in a responsible manner while protecting front-line services like health care and education.
- Since June 2018, 123,200 jobs have been created across Ontario.
- In 2018-19, the government saved $3.2 billion by finding efficiencies and reducing spending without compromising front-line services.
- Ontario’s Open for Business Action Plan has set two targets for 2020 to help businesses keep, grow and create good jobs: to save Ontario companies at least $400 million per year in the cost of complying with regulations and to reduce the number of regulatory requirements affecting businesses by at least 25 per cent.
- The government is also keeping Ontario open for business and open for jobs by fighting the federal government’s job-killing, unconstitutional carbon tax with every tool at its disposal. This year, the federal carbon tax will cost a typical Ontario household an extra $258. That number will rise to $648 by 2022.
- The federal carbon tax will impact every sector of our economy. By 2022, it will add as much as $774 million to the annual cost of heavy duty transportation in Ontario and will increase annual heating costs for Ontario hospitals by $27.2 million.