Ontario Invests $40 Million in Advanced Manufacturing
Published on: March 22, 2016
Ontario is making critical investments to support manufacturing, strengthen global competitiveness and help create high-value jobs across the province.
Premier Kathleen Wynne addressed the Canadian Manufacturers & Exporters (CME) Industrie 2030 summit today, where she discussed the province's $400 million Business Growth Initiative(BGI). CME is Canada's largest trade and industry association.
The BGI strategy supports Ontario's shift towards a high-growth innovation economy with initiatives such as a five-year, $35-million investment in the Advanced Manufacturing Consortium and a 10-year, $5-million investment to establish the Trillium Network for Advanced Manufacturing. Both programs will provide support to traditional manufacturers to help them transform into more innovative, dynamic and productive companies.
The government has also created the Highly Skilled Workforce Strategy Expert Panel to help Ontario adapt to the demands of a dynamic, knowledge-based economy. The panel will assess how well the workforce is positioned to meet the needs of Ontario's economy and will recommend an integrated approach for the government to bridge education, training and skills development with the demands of an evolving economic landscape.
Supporting the manufacturing sector is part of the government's economic plan to build Ontario up and deliver on its number-one priority to grow the economy and create jobs. The four-part plan includes investing in talent and skills, including helping more people get and create the jobs of the future by expanding access to high-quality college and university education. The plan is making the largest investment in public infrastructure in Ontario's history and investing in a low-carbon economy driven by innovative, high-growth, export-oriented businesses. The plan is also helping working Ontarians achieve a more secure retirement.
- Through the Advanced Manufacturing Consortium, three Ontario universities — McMaster, Waterloo and Western — will collaborate with industry partners on long-term industrial innovation projects to support Ontario’s leadership in fields such as additive manufacturing and digital components and devices.
- Ontario’s 10-year, $2.7-billion Jobs and Prosperity Fund is helping create and retain more than 16,000 jobs and attracting more than $1 billion in investments.
- Since 2008, the government has committed over $70 million through the Eastern Ontario Development Fund, leveraging a total investment of more than $700 million, creating over 3,000 new jobs and retaining more than 13,500 existing jobs in the region.
- Since October 2012, Ontario has committed to invest over $88 million through the Southwestern Ontario Development Fund — leveraging private-sector investment of more than $1 billion, creating over 4,000 new jobs and retaining more than 19,000 existing jobs in the region.
- With CME’s help, Ontario is investing $25 million in a Green SMART energy efficiency program to help small and medium-sized businesses reduce emissions and become more energy efficient.
About Industrie 2030
Industrie 2030 aims to double manufacturing output and value added exports by 2030. Through a series of cross-country consultations, we will create a roadmap and implementation strategy to help us achieve this goal. The roadmap and implementation plan will be released at CME’s National Summit in Ottawa on October 18-19. For more information visit www.industrie2030.ca.