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HomeBusinessEconomyOntario continues to attract investments and create new opportunities

Ontario continues to attract investments and create new opportunities

TORONTO, Canada — Vic Fedeli, minister of economic development, job creation and trade, issued this statement following today’s monthly employment release by Statistics Canada that showed employment in Ontario increased by 42,700 jobs in October:

“Our government continues to secure transformational investments that will create more good-paying jobs for the people of Ontario. In October, Ontario saw the largest increase in employment across the country, with 42,700 more people now employed, including 4,600 in the manufacturing sector. With world-class talent, state-of-the-art research and development facilities and a stable, safe business environment, Ontario has everything companies need to grow.

Last month, Ontario secured a $340 million investment by Nokia Corporation to build their new Canadian headquarters in Ottawa. This investment will ensure Ontario remains a global leader in innovation and technology, while also creating more than 340 high value jobs in the Ottawa region. Companies around the world are looking to Ontario for their future, and attracting global partners like Nokia is proof that Ontario is open for business and open for jobs.

This is a message we heard time and time again during our recent trade mission to Germany and Austria. This trade mission provided us with a valuable opportunity to strengthen relationships with our international partners, while also promoting Ontario as a leading destination to do business. As part of the mission, Ontario renewed its Memorandum of Understanding with the German state of Baden-Württemberg and met with ITM Isotope Technology Munich to celebrate their partnership with Bruce Power, Isogen and the Saugeen Ojibway Nation to distribute an innovative, made-in-Ontario, potentially lifesaving medical isotope. Both of these outcomes will support future innovation and growth in Ontario, particularly in the life sciences and automotive sectors.

Our government also continues to support homegrown companies and their efforts to expand. Ontario is investing more than $100 million through the Regional Development Program to foster business growth at the regional level. To date, $68 million has been invested in 62 companies across the province through the Eastern Ontario Development Fund and the Southwestern Ontario Development Fund streams. This funding has supported $736 million in investment to create more than 1,300 jobs.

“As we look to the future, we know that Ontario’s workers are among the best and brightest in the world. Together we will continue to build Ontario and create opportunities for all people.”

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