For Immediate Release
Toronto
02/03/2012

 

Ontario Rises To the Challenge: McGuinty Government Creating Jobs and Strengthening Economy

 

 

NEWS

 

Ontario continues building an economy that offers the right climate for businesses to grow and create quality jobs for families across the province. Despite global economic challenges, the province continues to be well positioned as an economic leader.

Ontario created 121,300 net jobs in 2011. Employment has increased by 303,200 net jobs from the recessionary low in June 2009, with full-time employment up 305,700.

Improvements to the business climate in Ontario, including a globally competitive tax system, an improved regulatory environment, and investments in education, health care, electricity, and infrastructure make Ontario an attractive place to invest.

From automotive to ICT, Ontario’s impressive achievements in a wide range of areas are positioning the province for future success. Here are some of the highlights:

Auto Sector

• Ontario is the only jurisdiction in the NAFTA region that has plants from five of the top light vehicle manufacturers.
• Ontario has been ranked as the number one jurisdiction in the NAFTA region for vehicle assembly since 2004, producing more than two million vehicles annually.

Aerospace

• Today, 60 per cent of the world’s landing gear for large aircraft is made in Ontario.
• The world’s largest landing gear test facility is operated by Goodrich in Oakville, Ontario.

Clean Technology

• In 2010, Ontario saw the addition of enough photovoltaic (PV) solar panels to produce 167 MW of energy capacity — bringing the provinces total PV solar panel capacity to  215 MW and making Ontario the second largest installer of PV solar panels in North America (after California).
• Sarnia, Ontario is home to one of the largest solar farms in the world.

Life Sciences

• Ontario is one of the largest biomedical research centres in North America with 25 research and academic hospitals employing 10,000 scientists, clinical investigators and researchers and 900 biomedical companies employing more than 43,000 Ontarians.
• Ontario boasts the third largest regional biotechnology cluster in North America, after California and Massachusetts. These companies generate over $14 billion in revenues annually.
• Ontario is home to more than 60 per cent of Canada’s medical technology companies.

Information and Communications Technology (ICT)

• Ontario’s ICT sector employs approximately 272,000 people – that represents about 50 per cent of Canada’s information and communications technology sector (2010).
• Ontario has more than 5,000 innovative ICT companies, including leading-edge software developers, trailblazing digital media producers, innovative telecommunications companies and brilliant micro-electronic firms generating over $26 billion in economic activity annually.

Educated Workforce

• Ontario’s workforce is ranked higher than any of the 34 Organisation for Economic Co-operation and Development (OECD) countries in education with 62 per cent of the 25-64 age group population in Ontario having completed a post-secondary certificate, diploma, or university degree program. 

In a time of slower growth and global economic uncertainty, the McGuinty government continues to focus on eliminating the deficit to build a strong Ontario economy that creates jobs, attracts investment and supports quality public services.

QUOTES

“Ontario has taken on the challenges we have faced in recent years to seek out new opportunities and secure our economic future.  We will build on these successes to attract new investment and create good jobs and quality public services for all of us.”
— Brad Duguid, Minister of Economic Development and Innovation

 

QUICK FACTS

• Forbes.com ranked Canada as the number-one country to do business in and credited an improved tax standing, including the Harmonized Sales Tax in Ontario, for making Canadian businesses more competitive.
• Ontario has eliminated over 80,000 regulatory requirements to save businesses time and money – a 17.2 per cent reduction since 2008. 
• Ontario’s a top destination for foreign direct investment in North America, second only to California. In 2010, the province attracted a total of 127 Foreign Direct Investment projects which created more than 11,200 jobs.

 

LEARN MORE

See what else Ontario is doing to support job creation.

Take a look at the programs and services available to help your business grow.

For more information:

Andrew Block
Minister's Office
416-325-0362

Sofia Sousa-Dias
Communications Branch
416-326-8465

ontario.ca/economy-news

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