|

Ontario Creating Conditions for Job Growth

Fall Economic Statement includes an additional $100 million to attract new jobs to the province

November 6, 2023

Ontario Creating Conditions for Job Growth

Vic Fedeli, Minister of Economic Development, Job Creation and Trade, issued this statement following a monthly employment release by Statistics Canada, which showed that while employment in Ontario decreased in October 2023, almost 160,000 jobs have been created this year. Nationwide, 40 per cent of new employment occurred in Ontario in the last 12 months.

“During a time of global economic uncertainty, Ontario has a plan to foster resiliency and stability by supporting growth in key sectors, reshoring manufacturing jobs and helping Ontario businesses access new markets.

Yesterday, our government provided an update on Ontario’s economic and fiscal outlook in the 2023 Fall Economic Statement. Building a Strong Ontario Together laid out how we are taking a responsible and targeted approach to building a strong and resilient Ontario for current and future generations. This approach has given our government the flexibility it needs to address the impacts of a slowing global economy, while continuing to make targeted investments to support our growing communities. These investments include an additional $100 million to the Invest Ontario Fund to help attract more leading companies to the province, further support businesses already here and create good-paying jobs.

To help Ontario’s businesses expand their global reach, we recently announced plans to open a new Ontario Trade and Investment Office in Singapore. The office will be the province’s first in the ASEAN region, a bloc of 10 states with a population of over 600 million and $4 trillion in GDP.

Closer to home, our government continues to support manufacturers across the province in expanding and creating good-paying jobs through our Regional Development Program. In October, we welcomed a $40 million investment by TNR Industrial Doors Inc. that will be used to build a new advanced manufacturing facility in Oro-Medonte. This past month, we also welcomed a $2.8 billion investment from Umicore Rechargeable Battery Materials Canada Inc. to build a new manufacturing plant in Loyalist Township. Over the last three years, Ontario has attracted more than $27 billion in automotive and EV battery investments.

With ongoing uncertainty impacting families across the province, the people of Ontario can have confidence that our government is making responsible decisions to support families and businesses today, while continuing to build a strong fiscal foundation for future generations.”

Source

Related Story

Ontario Welcomes $40 Million Manufacturing Investment

The Ontario government is welcoming a $40 million investment by TNR Industrial Doors Inc., a leading manufacturer of high-performance rubber, freezer and cooler doors. The investment will be used to build a new advanced manufacturing facility that will create 30 new, good-paying jobs in Oro-Medonte.

Related Articles


Latest Articles

  • The Future of Barcodes: Understanding the 2027 Digital Transformation

    January 17, 2025 In the world of industrial automation and manufacturing, a significant change is on the horizon. The familiar UPC barcode – a staple of product identification for nearly five decades – is evolving into a more sophisticated system. This transformation, known as “Sunrise 2027,” will revolutionize how businesses handle product identification, tracking, and… Read More…

  • A New Docking System for Space Rendezvous

    January 17, 2025 Author: Stefan Roschi The European Space Agency (ESA) is working on a new system to enable easy docking between two spacecraft. maxon developed two special drive systems for this purpose. Even though it’s been done many times before, the docking maneuver between two objects in space is always a delicate and potentially dangerous… Read More…


Featured Article

Revolutionizing Material Movement with Autonomous Mobile Robots

Revolutionizing Material Movement with Autonomous Mobile Robots

In today’s fast-paced manufacturing and logistics industries, the need for efficient and flexible material movement solutions has never been greater. Traditional methods like conveyor systems, forklifts, and manual pushcarts have served us well, but they come with limitations.

That’s why Omron is thrilled to announce the launch of their game-changing MD Series of Autonomous Mobile Robots (AMRs). Read more


Products