Wednesday, September 27, 2023

Making Ways for More Investments and Jobs in Ontario

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Key investments will help create jobs today and in the future

This statement was issued by Vic Fedeli, Minister of Economic Development, Job Creation, and Trade, in response to Statistics Canada’s March employment report, which revealed that employment in Ontario increased by 21,400 jobs in March 2023.

“For the sixth month in a row, we have seen an increase in jobs and new investments from both domestic and international businesses in Ontario. Starting around 2018, in excess of 600,000 great paying position have been added to the territory and we keep on driving the country in work creation.

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Our government is supporting individuals and businesses today while also laying a solid foundation for the future in the face of global economic uncertainty. We are making investments in infrastructure, training a workforce of world-class quality, reducing bureaucracy, and keeping taxes low so that every business, from cutting-edge start-ups to global corporations, has the best chance of expanding and adding jobs.

Over the last more than two years, we’ve drawn in more than $17 billion in auto speculations and, simply last month, Volkswagen, Europe’s biggest automaker, reported plans to assemble its most memorable abroad electric vehicle (EV) battery cell producing office in St. Thomas. Additionally, VueReal, a start-up based in Ontario, recently announced a $40 million manufacturing investment to expand their business.

Our government is also doing more to help manufacturing companies in Ontario stay competitive as we face global challenges. As part of our budget for 2023: We propose a 10% Ontario Made Manufacturing Investment Tax Credit as part of Building a Strong Ontario to assist local manufacturers in expanding operations, investing in innovation, and creating new well-paying jobs.

Our administration will keep on working nonstop to construct areas of strength for a by driving development and reinforcing the territory’s upper hand. Our efforts today will guarantee the continued success of Ontario businesses and workers today and in the future.”

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