Ontario Continues to Attract Investments and Create More Jobs
TORONTO — Vic Fedeli, Minister of Economic Development, Job Creation and Trade, issued this statement following today’s monthly employment release by Statistics Canada:
“Employment in Ontario increased by over 194,000 in February. This increase in jobs points to a brighter economic situation as we continue to protect our hard-fought progress in our battle against COVID-19. We are now poised to unleash Ontario’s economy and look towards our future economic prosperity.
Our government is doing its part to fuel the province’s continued growth and make Ontario a prime destination for major new investments.
Since taking office, we have reduced the cost of doing business in Ontario by $7 billion a year. Building up Ontario’s auto industry for the future of electric vehicle and EV battery production and attracting billion-dollar investments by manufacturers shows our province is Open for Business, and these efforts are working.
Yesterday, we announced a $100 million investment over five years by Canadarm manufacturer, MDA. Along with our government’s $25 million contribution, this investment will ensure that MDA’s world-leading technologies, innovation, and hundreds of good local jobs remain in Brampton and reinforces Ontario as the home of Canada’s space industry. Recently, our government and ArcelorMittal Dofasco joined forces on a major investment to transform Ontario into a world-leading producer of green steel. This investment will boost our province’s robust auto parts supply chain and skilled workforce in communities with deep roots in steel manufacturing to help meet the global demand for low-carbon auto production.
And over the last year and a half, global automakers have announced almost $6 billion in investments, with upgrades and new technology for facilities across the province. In order to compete and attract these kinds of game-changing investments, it is critical that the business climate in the province be competitive and highly attractive for businesses looking to invest and expand.
We know that small businesses and entrepreneurs are the backbone of our economy. That’s why our government provided an estimated $10.1 billion in unprecedented support to Ontario businesses throughout the COVID-19 pandemic.
Despite businesses, families and communities in every part of Ontario facing numerous challenges throughout the course of this pandemic, our province has continued to see new and promising investments in the life sciences, auto, tech and manufacturing sectors.”