News
For Immediate Release
Kitchener-Waterloo
12/02/2011
Moving Forward To Build A Strong Southwestern Economy: McGuinty Government Begins Meetings On Proposed New Fund To Create Jobs
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NEWS
Ontario is proposing a new fund as part of the recently introduced Attracting Investment and Creating Jobs Act that will create and protect jobs for families in the Kitchener and Waterloo Region.
Today, Brad Duguid, Minister of Economic Development and Innovation joined by John Milloy, MPP for Kitchener Centre met with local economic development partners, businesses and community members to discuss the proposed new Southwestern Ontario Development Fund. The new fund would build on the region’s strengths, address local economic development challenges and help create jobs in Southwestern Ontario.
The province will be meeting with local business leaders across the region to help shape the program and ensure that the proposed new fund addresses the unique regional challenges facing businesses and families in Kitchener and Waterloo region.
The proposed Attracting Investment and Creating Jobs Act is a key component of the McGuinty government’s plan to partner with business to create and protect new and existing jobs for Ontario families, and to strengthen local economies.
QUOTES
“Regional economic development programs have proven to be an effective tool in attracting investment and creating jobs. The proposed Southwestern Ontario Development Fund will provide good jobs for families in Southwestern Ontario and build a stronger, more competitive regional economy.”
– Brad Duguid, Minister of Economic Development and Innovation
“The reality is that each day, Ontario is competing with jurisdictions around the world that offer significant incentives for businesses to invest. If we’re not at the table with a good deal, those opportunities, and the jobs that go with them, will go elsewhere. What we need to do is ensure that we get the best possible return on the public’s investment. That’s going to be the focus for the consultations.”
– John Milloy, MPP for Kitchener Centre
QUICK FACTS
- Working together with businesses in the Kitchener-Waterloo Region, the McGuinty government has helped create and protect 10,300 jobs in the region since 2008.
- Since October 2003, Ontario employment has increased by 502,000 net jobs, more than 68% of which were full-time.
- The new fund would be modeled on the Eastern Ontario Development Fund, which has already helped create and protect over 11,700 jobs and leveraged over $485 million in investment across Eastern Ontario.
- Taxes on business investment have been cut in half since 2009. This and other tax changes are making Ontario more competitive and are encouraging business growth.
LEARN MORE
- See Ontario’s plan to support job creation.
- Take a look at the programs and services available to help your business grow.
- Read Ontario’s 2011 Progress Report.
For more information:
Andrew Block
Minister's Office
416-325-0362
Mark Ingram
Communications Branch
416-325-4776
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