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Master Deck 2015-09-30

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Master Deck 2015-09-30

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Master Deck 2015-09-30

  1. 1. WHY ONTARIO? Prepared by: Global Competitiveness Unit Research and Analysis Branch Policy and Strategy Division Ministry of Economic Development, Employment and Infrastructure / Ministry of Research and Innovation September 30, 2015
  2. 2. 2 WHY ONTARIO? TABLE OF CONTENTS 1 | ECONOMIC PROFILE • Ontario as a Percentage of Canada • GDP Comparison with US States • GDP Comparison with Other Countries • Ontario's Regional Industrial Strengths • Toronto Financial Services • Ontario’s Share of Foreign Headquarters in Canada • Ontario's Economic Outlook 2 | COMPETITIVE ADVANTAGES • Location Advantage • Transportation Infrastructure • Educational Attainment • Ontario's Strong Educational Infrastructure • Ontario's People Risk Index and Global Comparison • Research Infrastructure • Cost of Doing Business • Healthcare Costs • Corporate Income Tax Rate Comparison i. Competitive Corporate Taxes on Manufacturing ii. Globally Competitive Corporate Taxes • Marginal Effective Tax Rate Comparison with OECD Countries • R&D Tax Credit • Sources of Ontario’s Foreign Direct Investment Projects
  3. 3. 3 WHY ONTARIO? TABLE OF CONTENTS (cont’d) 3 | INTERNATIONAL TRADE PROFILE • Ontario's Goods-and-Services Export Intensity • Exports and Imports, by Country • Exports and Imports, by Product • Canada’s Trade Agreements 4 | LIVING IN ONTARIO • Quality of Life • Languages Spoken • Ethnic Diversity 5 | GOVERNMENT OF ONTARIO'S INVESTMENT AND TRADE PROMOTION • International Representation • Ontario’s Plan for Jobs and Growth • Recent Initiatives for Investment • Program Initiatives i. Competitive Business Tax ii. Opportunities for Businesses iii.Modern Infrastructure iv.Highly Skilled Workforce v. Promoting Entrepreneurship and Innovation vi.Helping Social Enterprises Grow and Create jobs vii.Going Global
  4. 4. 4 WHY ONTARIO? ECONOMIC PROFILE 1
  5. 5. 5 WHY ONTARIO? Ontario: Canada’s Economic Powerhouse Ontario as a Percentage of Canada, 2014 37% GDP 39% Population 38% Primary household income 45% Financial services employment 48% ICT employment 46% Production of manufactured goods 36% Goods exports Sources: Industry Canada, Statistics Canada, and Ontario Ministry of Finance with data from Statistics Canada, 2015 ECONOMIC PROFILE > Ontario as a Percentage of Canada
  6. 6. 6 WHY ONTARIO? Ontario: The Eighth Largest Economy in North America Top Ten by GDP, 2014 (Billion US$) 2,312 1,648 1,405 840 746 663 583 572 549 483 Note: Figures in current US$. Ontario’s GDP listed at PPP. Ontario’s GDP at PPP was estimated as a percentage of Canada’s. Source: US Bureau of Economic Analysis, Ontario Ministry of Economic Development, Employment and Infrastructure with data from Statistics Canada, and OECD, 2015. ECONOMIC PROFILE > GDP Comparison with US States
  7. 7. 7 WHY ONTARIO? Ontario’s GDP is Larger than that of Many Countries GDP for Ontario and Select OECD Countries, 2014 (Billion US$) 943 803 572 480 473 437 397 394 333 320 295 286 272 253 241 221 218 Note: Figures in current US$. GDP at PPP for all countries. Ontario’s GDP at PPP was estimated as a percentage of Canada’s. Source: Ontario Ministry of Economic Development, Infrastructure and Employment with data from Statistics Canada, and OECD, 2015. ECONOMIC PROFILE > GDP Comparison with Other Countries
  8. 8. 8 WHY ONTARIO? Diverse Geographic Landscape with Competitive Regional Industries Ontario’s Regional Strengths Northwestern Ontario 1% of total employment 10% of paper manufacturing 6% of mining and oil and gas extraction 2% of construction employment 6.2% unemployment rate Southwestern Ontario 11% of total employment 63% of petroleum and coal products manufacturing 37% of agriculture employment 33% of transportation equipment manufacturing employment 6.4% unemployment rate Northeastern Ontario 4% of total employment 57% of mining and oil and gas extraction 23% of wood product manufacturing 15% of primary metal manufacturing 7.7% unemployment rate Eastern Ontario 13% of total employment 20% of management, scientific, and technical services 16% of paper manufacturing employment 15% of computer system design services employment 6.9% unemployment rate Central Ontario 23% of total employment 52% of primary metal manufacturing employment 38% of machinery manufacturing employment 37% of non-metallic mineral product manufacturing 5.7% unemployment rate Greater Toronto Area 48% of total employment 71% of finance employment 69% of computer system design services employment 44% of manufacturing employment 7.4% unemployment rate Source: Statistics Canada, Labour Force Survey, August 2015 ECONOMIC PROFILE > Ontario's Regional Industrial Strengths
  9. 9. 9 WHY ONTARIO? Toronto: The Canadian and a Global Hub for Financial Services TORONTO IS: • Location of 83% of the foreign banks in Canada • Headquarters for Canada’s five largest banks • Headquarters of seven Fortune Global 500 companies • Ranked fifth in North America and eleventh globally in competitiveness ratings of global financial centres • Home to the eighth largest stock exchange in the world based on domestic equity market capitalization Sources: The Global Financial Centre Index 17, World Federation of Exchanges, 2015. OneSource.com, Fortune Global 500 Companies, Canadian Bankers Association, Office of Superintendent of Financial Institutions Canada; 2015 ECONOMIC PROFILE > Toronto Financial Services
  10. 10. 10 WHY ONTARIO? Ontario is Home to the Majority of Foreign-Controlled Head Offices in Canada Foreign Head Office Distribution in Canada, Dec 2014 Ontario 64% Rest of Canada 36% Source: Statistics Canada, 2015 COMPETITIVE ADVANTAGE > Ontario’s Share of Foreign Headquarters in Canada
  11. 11. 11 WHY ONTARIO? Positive Economic Growth is Projected for Ontario for the Next Few Years Ontario’s Economic Outlook (Per Cent) 2015p 2016p 2017p 2018p Real GDP Growth 2.7 2.4 2.2 2.1 Employment Growth 1.1 1.3 1.4 1.3 CPI Inflation 1.2 2.0 2.0 2.0 Note: p: projected Source: Ontario Ministry of Finance, 2015 ECONOMIC PROFILE > Ontario's Economic Outlook
  12. 12. 12 WHY ONTARIO? 2 COMPETITIVE ADVANTAGE
  13. 13. 13 WHY ONTARIO? 142 Million Consumers within a Day’s Drive Daily Two-way Goods Trade between Ontario- USA for 2014 Valued at C$844 million Sources: Industry Canada, Statistics Canada and US Census Bureau, 2015 COMPETITIVE ADVANTAGE > Location Advantage
  14. 14. 14 WHY ONTARIO? Ontario has a Modern, Efficient and Widely Networked Transportation System Ontario Transportation Infrastructure Airport Border Crossing Road Ontario Road Railroad ECONOMIC PROFILE > Transportation Infrastructure
  15. 15. 15 WHY ONTARIO? Ontarians are Highly Educated Post-secondary Educational Attainment [Select Markets, 2013 (Age 25-64)] Overall, 66% of Ontario’s adult population has completed post- secondary education • University: 32% • College: 27% • Apprenticeship: 7% 66% 64% 55% 47% 44% 42% 36% 32% 19% Note: Not all jurisdictions count apprenticeship as post-secondary education Sources: Statistics Canada and OECD, 2015 COMPETITIVE ADVANTAGE > Educational Attainment
  16. 16. 16 WHY ONTARIO? Ontario’s Strong Educational Infrastructure Organization for Economic Co-operation and Development’s (OECD) Programme for International Student Assessment, 2012 Reading Scores PISA 2009 Score 528 523 505 498 496 494 Ontario Canada G8 Avg. USA OECD Avg. EU15 Avg. Mathematics Scores PISA 2009 Score 518 514 501 496 494 481 Canada Ontario G8 Avg. EU15 Avg. OECD Avg. USA Science Scores PISA 2009 Score 527 525 511 504 501 497 Ontario Canada G8 Avg. EU15 Avg. OECD Avg. USA Canada is among the highest ranked jurisdictions in the OECD’s assessment of students’ reading, math, and science skills. Note: OECD’s Programme for International Student Assessment (PISA) compares standardized test results of 15 year-olds in 65 countries. It is conducted every three years. Sources: OECD and Statistics Canada, 2013 COMPETITIVE ADVANTAGE > Ontario's Strong Educational Infrastructure
  17. 17. 17 WHY ONTARIO? Ontario is a Leader in Recruiting and Retaining a Highly Skilled Workforce Overall People-Risk Rankings, 2013 Rank City 1 New York City 2 Singapore 3 Toronto 4 London 5 Montreal 6 Los Angeles 7 Copenhagen 8 Hong Kong 9 Zurich 10 Vancouver Out of 138 global cities examined, Toronto ranked third for low risks associated with employment and redeployment. Canada’s strengths are derived from strict enforcement of equal opportunity laws, clear government-mandated health and retirement benefits, low levels of corruption, and the high quality and broad availability of training facilities. Source: AON Consulting, 2014 ECONOMIC PROFILE > Ontario's People Risk Index and Global Comparison
  18. 18. 18 WHY ONTARIO? Government Supported R&D Centres Located throughout Ontario Medical Related Services Centre for Excellence for Mining Innovation Bio Energy Research Centre Networks of Centres of Excellence (NCE) Ontario Centres of Excellence (COE) National Research Council Institute (NRC) COMPETITIVE ADVANTAGE > Research Infrastructure
  19. 19. 19 WHY ONTARIO? Competitive Business Costs Overall Business Costs Index (US=100) 88.5 89.1 91.6 92.3 93.1 93.4 93.5 94.2 100 Source: MEDEI/MRI analysis, prepared using CompetitiveAlternatives.com Cost Model, 2014 version, accessed August 27, 2015 COMPETITIVE ADVANTAGE > Cost of Doing Business
  20. 20. 20 WHY ONTARIO? Lower Healthcare Costs for Employers Compared to the US Employer Health Costs for a Typical Firm (Thousands US$) 980 457 US Ontario Average cost to employers in the US is about twice as much as it is in Ontario Note: Typical firm defined as having approximately 91 employees Source: MMK Consulting, 2014 (Special run for MEDEI/MRI) COMPETITIVE ADVANTAGE > Healthcare Costs
  21. 21. 21 WHY ONTARIO? Competitive Corporate Taxes on Manufacturing Combined Federal and State/Provincial Corporate Income Tax Rate in Manufacturing (Per Cent) 25.0% 32.0% 32.5% 35.3% 35.6% 35.9% 35.9% 36.0% 36.3% 36.4% 37.7% 37.9% 38.0% 38.0% 38.5% Source: Ontario Ministry of Finance, based on information as of Dec 19, 2014. COMPETITIVE ADVANTAGE > Corporate Income Tax Rate Comparison
  22. 22. 22 WHY ONTARIO? Globally Competitive Corporate Taxes Combined National-Subnational General Corporate Income Tax (CIT) (Per Cent) The combined federal‐Ontario general CIT rate is significantly lower than the average federal‐state CIT rate in the United States — Ontario’s major trading partner. Source: Ontario Ministry of Finance, and KPMG International, based on information as of Feb 27, 2015 COMPETITIVE ADVANTAGE > Corporate Income Tax Rate Comparison 26.5% 28.2% 31.5% 39.0% Ontario G20 Average G7 Average US Average
  23. 23. 23 WHY ONTARIO? Marginal Effective Tax Rate (METR) on New Business Investment Lower than US and OECD Averages Ontario’s Tax Competitiveness (Per Cent) 34.7% 20.2% 16.3% US Average OECD Average Ontario Notes: The marginal effective tax rate (METR) takes into account federal and provincial/state corporate income taxes, capital taxes and sales taxes. The OECD METR is the average for OECD member countries excluding Canada. Sources: Finance Canada, and Ontario Ministry of Finance, based on information as of September 30, 2015. COMPETITIVE ADVANTAGE > Marginal Effective Tax Rate Comparison with OECD Countries
  24. 24. 24 WHY ONTARIO? Ontario’s R&D Cost Advantage R&D Cost Advantage (Per Cent) 28.1% 23.9% 23.3% 18.0% 17.3% 14.2% 14.1% 13.9% 0% Netherlands Ontario France Australia Italy United Kingdom Germany Japan US Ontario has a 23.9% cost advantage relative to the US Source: MEDEI/MRI analysis, prepared using CompetitiveAlternatives.com Cost Model, 2014 version. Based on information as of September 15, 2015. After-Tax Cost of $100 R&D Expenditure Small and Medium Sized Manufacturers R&D Expenditure (general) R&D Expenditure (at eligible Ontario research institutes) Gross expenditure $100.00 $100.00 Actual after- tax expenditure $54.79 $42.62 Note: based on information as of September 30, 2015. Sources: Ontario Ministry of Finance and Canada Revenue Agency COMPETITIVE ADVANTAGE > R&D Tax Credit
  25. 25. 25 WHY ONTARIO? Ontario Attracts Investors from Many Countries Foreign direct investment projects in Ontario by source country, 2014 COMPETITIVE ADVANTAGE > Sources of Ontario’s Foreign Direct Investment Projects US, 45.13 UK, 12.39 Germany,  7.08 France,  6.19 China,  3.54 India, 3.54 Denmark,  2.65 Switzerland,  2.65 Japan, 2.65 Sweden, 2.65 Other, 11.53 Source: fDi Intelligence, April 2015.
  26. 26. 26 WHY ONTARIO? 3 INTERNATIONAL TRADE PROFILE
  27. 27. 27 WHY ONTARIO? Goods and Services Exports are a Key Part of Ontario’s Economy Goods and Services Export Intensity, 2014 Gross Domestic Product International 33.6% Interprovincial 18.6% 0% 20% 40% 60% 80% 100% International exports are equivalent to around 34% of Ontario’s GDP Note: 2014 GDP is $720,981 million Source: Ontario Ministry of Finance, April 2015 INTERNATIONAL TRADE PROFILE > Ontario's Goods-and-Services Export Intensity
  28. 28. 28 WHY ONTARIO? Ontario Trades with the World Top Ten Trade Partners, 2014 Note: Figures for 2014. Export figures are domestic exports only (does not include re-exports) Source: Industry Canada with data from Statistics Canada, 2015. INTERNATIONAL TRADE PROFILE > Exports and Imports, by Country Exports Rank Country % Share in Total 1 United States 79.3% 2 United Kingdom 6.4% 3 Hong Kong 1.8% 4 China 1.2% 5 Mexico 1.2% 6 Japan 1.1% 7 Norway 1.0% 8 Germany 0.6% 9 Italy 0.6% 10 Switzerland 0.6% Imports Rank Country % Share in Total 1 United States 56.4% 2 China 11.7% 3 Mexico 7.6% 4 Japan 3.0% 5 Germany 2.6% 6 Korea, South 1.6% 7 United Kingdom 1.3% 8 Italy 1.1% 9 Switzerland 1.0% 10 Taiwan 0.8%
  29. 29. 29 WHY ONTARIO? Ontario Trades in a Variety of Goods Top Five Product Categories, 2014 Exports 34% 11% 9% 4% 4% 38% Motor Vehicles Metals and Precious Stones Machinery & Mech. Appliances Plastics Electrical Equipment Others Imports 21% 15% 11% 4%4% 45% Motor Vehicles Machinery & Mech. Appliances Electrical Equipment Metals & Precious Stones Pharmaceuticals Others Source: Industry Canada, Trade Data Online (data from, Statistics Canada, November 2014) INTERNATIONAL TRADE PROFILE > Exports and Imports, by Product
  30. 30. 30 WHY ONTARIO? Canada’s Trade Negotiations and Agreements INTERNATIONAL TRADE PROFILE > Canada’s Trade Agreements Countries with Completed Free Trade Agreements Countries with Free Trade Agreements Being Negotiated Countries with Free Trade Agreements in Exploratory Discussions All other countries without Free Trade Agreements with Canada Note: FTA coverage does not include WTO Agreements. The Canada-EU trade agreement (CETA) negotiations concluded in August 2014 and is awaiting ratification. If approved in 2015 the CETA could be applied in 2016.
  31. 31. 31 WHY ONTARIO? 4 LIVING IN ONTARIO
  32. 32. 32 WHY ONTARIO? Ontarians Enjoy a Good Quality of Life Mercer 2015 Quality of Living Survey Index, Top Cities in North America Rank City Country 5 Vancouver Canada 15 Toronto Canada 16 Ottawa Canada 24 Montreal Canada 27 San Francisco United States 33 Calgary Canada 34 Boston United States 36 Honolulu United States 43 Chicago United States 44 New York City United States 44 Seattle United States Source: Mercer - Quality of Living, 2015 LIVING IN ONTARIO > Quality of Life
  33. 33. 33 WHY ONTARIO? Ontarians Speak Many Different Languages Select Languages Spoken by Ontarians 93,080 128,440 133,390 140,805 140,315 147,723 178,335 251,330 499,380 685,193 1,426,540 Russian Polish Arabic Filipino German Portuguese Spanish Italian Major Chinese languages Major languages spoken in India French Ontario’s population was 12.85 million in 2011. Source: National Household Survey (NHS), Statistics Canada, 2013 (data for 2011). LIVING IN ONTARIO > Languages Spoken
  34. 34. 34 WHY ONTARIO? Ontario is Ethnically Diverse Ontario’s Immigrant Population by Place of Birth Asia 44.8%Europe 33.4% United States 3.2% Americas 16.1% Africa 5.4% Oceania and other 0.3% Sources: Statistics Canada, 2013. National Household Survey (NHS) LIVING IN ONTARIO > Ethnic Diversity
  35. 35. 35 WHY ONTARIO? 5 GOVERNMENT OF ONTARIO’S INVESTMENT AND TRADE PROMOTION
  36. 36. 36 WHY ONTARIO? Government of Ontario’s Presence Abroad GOVERNMENT OF ONTARIO’S INVESTMENT AND TRADE PROMOTION > International Representation
  37. 37. 37 WHY ONTARIO? GOVERNMENT OF ONTARIO’S INVESTMENT AND TRADE PROMOTION > Ontario’s Plan for Jobs and Growth Ontario’s Plan for Jobs and Growth • Launched in Budget 2013, Ontario’s Economic Plan for Jobs and Growth is supporting economic renewal and positioning the province to continue its global economic leadership through the 21st century. • It builds on Ontario’s strong economic fundamentals to focus government policy and investments in priority areas that will drive economic development and job creation. This includes building the talent and skills of Ontario’s workforce, building modern infrastructure and supporting a dynamic and innovative business climate. • The 2015 Budget expands on this plan. The government will continue to work hard to ensure Ontario is well- positioned for continued economic growth over the next 10 years.
  38. 38. 38 WHY ONTARIO? Recent Initiatives Encouraging Investment •Has eliminated the capital tax, reduced corporate income tax rates and has passed the Supporting Small Business Act, increasing the exemption for the Employer Health Tax for small businesses. •Has announced the Going Global Trade Strategy to help more companies export to global markets, helping to create jobs in Ontario. •Has invested in key sectors and regions of the economy, and in promoting research, innovation and commercialization. •Is extending the Ontario Youth Jobs Strategy by $250 million for two more years, that has helped over 29,000 young people gain the benefit of on- the-job workplace experience over the last two years. GOVERNMENT OF ONTARIO’S INVESTMENT AND TRADE PROMOTION > Recent Initiatives for Investment The Ontario Government:
  39. 39. 39 WHY ONTARIO? GOVERNMENT OF ONTARIO’S INVESTMENT AND TRADE PROMOTION > Program Initiatives Competitive Business Tax Improving Business Tax Competitiveness The government has fundamentally restructured the tax system to improve Ontario’s business tax competitiveness and enhance Ontario’s advantages in sustaining long‐term economic growth and job creation. These measures include: • Replacing the Retail Sales Tax with the Harmonized Sales Tax (HST), a more modern value‐added tax; • Eliminating the Capital Tax, which corporations paid whether or not they had a profit and was a significant disincentive to investment; • Cutting Corporate Income Tax (CIT) rates for small and large businesses; and • Streamlining CIT and sales tax administration, which is saving businesses over $635 million per year in reduced compliance costs. Ontario’s business tax system is one of the most competitive internationally. Since 2009, the marginal effective tax rate on new business investment has been cut in half.
  40. 40. 40 WHY ONTARIO? GOVERNMENT OF ONTARIO’S INVESTMENT AND TRADE PROMOTION > Program Initiatives Opportunities for Businesses Provincial Initiatives • The new province-wide, 10-year, $2.5 billion Jobs and Prosperity Fund (JPF) will partner with business to attract investments, strengthen Ontario’s strategic sectors and support the province’s future economic growth. The new fund will secure business investments that focus on job‐creating innovation, productivity and going global, and will invest in Ontario’s key sectors. • The government has committed over $110 million in regional economic development through both the Eastern Ontario Development Fund and Southwestern Ontario Development Fund, leveraging a total investment of over $1 billion. • These regional programs support economic development initiatives to businesses, municipalities and not for profit associations. • The Better Business Climate Act, 2014 requires the government to publish an annual report highlighting the government’s burden reduction activities. Ontario’s new burden reduction strategy will save businesses and stakeholders over $100 million by the end of 2017. Through the act, which went into effect in December 2014, Ontario will work with business and other partner leaders to develop cluster development plans that identify key polices to support cluster growth and promote stronger collaboration.
  41. 41. 41 WHY ONTARIO? GOVERNMENT OF ONTARIO’S INVESTMENT AND TRADE PROMOTION > Program Initiatives Modern Infrastructure The province plans to invest more than $130 billion in public infrastructure over ten years, including $24 billion by 2015-16. Infrastructure investments would remain focused on the most critical areas such as transportation, health care and education. •Transportation Infrastructure: $31.5 billion over ten years to improve transportation infrastructure, including $2.5 billion in 2015- 2016 for highway rehabilitation and expansion projects across the province. •Education Infrastructure: to provide over $11 billion over ten years in capital grants to school boards that will help build new schools in areas of high growth and improve the condition of existing school facilities. As of the spring of 2015, nearly 100 major capital projects are either in planning or underway across the province. •Postsecondary Infrastructure: to provide more than $900 million for infrastructure in colleges and universities. •Health Infrastructure: to invest over $11 billion over ten years in capital grants to hospitals over three years. Across Ontario, approximately 40 major hospital projects are under construction or in various stages of planning.
  42. 42. 42 WHY ONTARIO? GOVERNMENT OF ONTARIO’S INVESTMENT AND TRADE PROMOTION > Program Initiatives Highly Skilled Workforce Ontario has made significant investments to build the knowledge and skills of its population, ranging from full-day kindergarten to postsecondary education. •Youth aged 15 to 29 account for 35 per cent of participants in Employment Ontario, the province’s $1 billion system of employment and skills training programs and services. •Ontario is renewing its Youth Jobs Strategy that will provide an additional investment of $250 million over two years to prepare up to 150,000 of Ontario’s youth with the right skills for employment opportunities in growing industries. •Since 2002–03, there are over 170,000 additional students enrolled at Ontario colleges or universities, an increase of 43 per cent. •Since 2002–03, Ontario has created almost 16,000 new graduate spaces, an increase of 58 per cent. •66 per cent of adults in Ontario had a postsecondary credential in 2013, up from 56 per cent in 2002 and higher than any country in the Organisation for Economic Co-operation and Development.
  43. 43. 43 WHY ONTARIO? GOVERNMENT OF ONTARIO’S INVESTMENT AND TRADE PROMOTION > Program Initiatives Promoting Entrepreneurship and Innovation The Government of Ontario offers programs and funds to promote entrepreneurship and innovation such as: • Commercialization and Innovation Voucher Pilot Program: helping entrepreneurs and small businesses to access innovation, productivity and commercialization services offered by Ontario’s research institutions. • Northleaf Venture Catalyst Fund: a $300 million fund in partnership with the federal government and the private sector. • The Ontario Brain Institute: supporting medical discovery by committing $100 million to the Ontario Brain Institute over five years. • The Youth Jobs Strategy’s Youth Entrepreneurship Fund and Youth Innovation Fund are providing young entrepreneurs with training, resources, mentorship and capital and helping develop Ontario’s future business leaders
  44. 44. 44 WHY ONTARIO? GOVERNMENT OF ONTARIO’S INVESTMENT AND TRADE PROMOTION > Program Initiatives Helping Social Enterprises Grow and Create Jobs The Government of Ontario has launched a new Social Enterprise Strategy that will help social enterprises start and grow their businesses while supporting the creation of 1,600 new jobs in the sector by focusing on four key areas: • Connecting, co-ordinating and communicating information to, and about, social entrepreneurs, including exploring new ways to help create 'hybrid' corporations that reinvest profits in a social purpose • Building the social enterprise brand by increasing awareness of the sector using tools like an interactive web portal where social entrepreneurs could meet and connect with investors, and access services. • Creating a vibrant social finance marketplace through various initiatives, including implementing a new $4 million Social Enterprise Demonstration Fund to improve access to capital for high-growth social enterprises. In February 2015, the government announced support for 11 social finance organizations through the Social Enterprise Demonstration Fund. • Delivering other innovative supports, like a pilot program to help social enterprises be part of procurements related to the 2015 Pan Am/Parapan Am Games Our goal is to make Ontario the number one jurisdiction in North America for social enterprise.
  45. 45. 45 WHY ONTARIO? GOVERNMENT OF ONTARIO’S INVESTMENT AND TRADE PROMOTION > Program Initiatives Going Global Ontario is helping expand the province's presence in global markets, grow the economy and create jobs through a new trade strategy. As part of Ontario’s Plan for Jobs and Growth, the Going Global Trade Strategy will: •Already helped exporters with over 90 outbound missions in priority sectors. •Streamline export programs and resources for businesses so they can more easily access the supports they need to go global. • Increase support for more Ontario companies to export their products or services. •Strengthen trade corridors with the United States. •Work with the federal government to pursue new trade agreements •Maximize the benefits from the Canada-EU Trade Agreement.
  46. 46. 46 WHY ONTARIO? Ministry of Economic Development, Employment and Infrastructure / Ministry of Research and Innovation Please contact us for assistance with: •the latest information on our economy and business climate •comprehensive profiles of Ontario municipalities •province-wide site searches of available industrial land and buildings •liaising of site selection and community visits throughout the province •contacts with federal, provincial and municipal officials, as well as utilities, transportation firms and business facilitators. info@investinontario.com GOVERNMENT OF ONTARIO’S INVESTMENT AND TRADE PROMOTION > Contact Information
  47. 47. Prepared by: Global Competitiveness Unit Research and Analysis Branch Policy and Strategy Division Ontario Ministry of Economic Development, Employment and Infrastructure / Ministry of Research and Innovation 900 Bay Street, 7th Floor Toronto, Ontario M7A 2E1 Phone: 416-325-0078 InvestInOntario.com SourceFromOntario.com

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