Ministry of Economic Development and Trade 2002-2003 and 2003-2004 Annual Reports

• Ministry of Economic Development and Trade 2002-2003 and 2003-2004 Annual Reports - PDF

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Table of Contents

• 2003-2004 Ministry Overview
• 2003-2004 Annual Report
• 2003-2004 Ministry Expenditures
  
  
• 2002-2003 Annual Report
• 2002-2003 Ministry Expenditures

2003-2004 Ministry Overview

Until October, 2003, the Ministry of Economic Development and Trade was named the Ministry of Enterprise, Opportunity and Innovation, with responsibility for science and technology development.

• The ministry’s key responsibilities include:
• Promoting innovation and entrepreneurship
• Increasing the quality of jobs
• Increasing investment and exports
• Supporting the removal of barriers to business
• Providing leadership for the development of economic and science and technology policy across the government.

The ministry’s mandate is to provide strong leadership in promoting Ontario’s economic growth and competitiveness.

The ministry carried out its mandate through the following activities:

• Encouraging science and technology research and innovation
• Supporting sector competitiveness and business clusters
• Pursuing increased investment in Ontario and facilitating opportunities to boost Ontario exports
• Providing advice and support services to small and medium-sized businesses in Ontario

The ministry works closely with many other ministries, particularly the Ministries of Finance, Agriculture and Food, Northern Development and Mines, Health and Long Term Care, and Training, Colleges and Universities, to implement key programs and priorities. As well, the ministry works with both the federal and municipal levels of government and the private sector as partners on many initiatives.

2003-2004 Annual Report

From April to October 2003, the Ministry of Economic Development and Trade was named the Ministry of Enterprise, Opportunity and Innovation.

Key Initiatives: Competitiveness and Business Development

• Secured benefits for Ontario from the World Trade Organization (WTO) services negotiations and participated in a new round of trade negotiations.
• Participated in the 2003 Paris Air Show.
• Benchmarked Ontario’s competitiveness and economic development strengths and weaknesses across jurisdictions.
• Smart Border initiatives improved security measures and the flow of goods between Ontario and the U.S.
• Implemented the 9th Wisdom Exchange for CEOs of leading growth firms, including business mentoring and strategic partnering programs.
• Initiated and reviewed introduction of legislative amendments in Government Efficiency and Red Tape Reduction Bills.
• Invested $14.1 million from the Strategic Skills Investment Program in projects with Ontario’s universities and colleges.
  

Key Initiatives: Investment

• The Market Ontario program promoted the advantages of Ontario as a premier location to invest and do business.
• The Large Scale Strategic Investment Initiative attracted new investments in strategic industries.
• Supported attraction of $214 million in new capital investment, creating 6,900 new jobs.
• Assisted over 150 business immigrants in establishing companies in Ontario.

Key Initiatives: Trade and International Relations

• Launched Ontario Exports Inc.’s enhanced website, providing client self -service access to export information (events, opportunities, suppliers).
• Assisted 751 exporters to enter new markets.
• Coordinated the Ontario Global Traders’ Awards Program and the Annual Council of Great Lakes Governors’ meeting.
• Organized 63 international trade missions, including missions to Japan/Korea, the World Economic Forum in Davos and the U.S.

Key Initiatives: Field and Entrepreneurship Services

• Provided support and assistance to over 1,200 growth-oriented and leading growth firms across southern Ontario through business advisors in 11 offices.
• Embarked on a number of initiatives to counter the negative economic impact of SARS in the business community including business counselling to over 100 directly affected businesses.
• Supported 183 Summer Company businesses operated through the summer by students aged 15-29, and offered 45 My Company loans. T he Ontario Secondary Business Plan Competition attracted students, teachers and other stakeholders to four locations linked through video simulcast for a gala award ceremony.
• Expanded Small Business Enterprise Centre (SBEC) network to 44 with the conclusion of the conversion of the Business Self Help Offices. The SBECs assisted and advised small businesses, handling over 245,000 general inquiries, 23,000 consultations and seminar attendance of 25,000.
• Initiated the Integrated Community Profiles, a tool to share community information across seven economic development ministries.
  

Key Initiatives: Science and Technology Development

• Supported creation of MaRS Discovery District in downtown Toronto.
• Continued investment in clinical and applied research infrastructure through the Ontario Cancer Research Network.
• Continued promotion of research and innovation through the Ontario Research and Development Challenge Fund (ORDCF).
• Supported the Biotechnology Commercialization Centres program, which assisted in the start-up of incubator facilitators for life sciences companies.
• Supported regional development and growth of the biotechnology industry in Ontario through implementation of the Biotechnology Cluster Innovation Program and the development of 11 regional biotechnology plans.
• Continued support for the Premier’s Research Excellence Awards.
• Provided assistance to the Ontario Rehabilitation Technology Consortium.
• Implemented the Broadband Regional Access Program (COBRA) to address the connectivity gaps in small communities across rural and northern Ontario.
• Continued implementation of the Ontario Research and Innovation Optical Network (ORION) to establish a next-generation research and development internet network for Ontario’s universities, colleges and research facilities.

Ministry Expenditures ($ millions), 2003-2004 Actual

Operating: 253
Capital: 31
Staff Strength (as of Mar. 31, 2004): 421.2

Note: Starting in 2002-2003, major tangible capital assets owned by provincial ministries (land, buildings and transportation infrastructure) are accounted for on a full accrual accounting basis. Other tangible capital assets owned by provincial ministries will continue to be accounted for as expense in the year of acquisition or construction. All capital assets owned by consolidated government organizations are accounted for on a full accrual basis.

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2002-2003 Annual Report

During this fiscal year, the Ministry of Economic Development and Trade was named the Ministry of Enterprise, Opportunity and Innovation.

Key Initiatives: Competitiveness and Business Development

• Organized the Automotive Roundtable and Ontario’s participation on the Canadian Automotive Partnership Council (CAPC).
• Organized an international conference on best practices for regulatory reform and red tape reduction in September 2002.
• Coordinated the work of the Task Force on Competitiveness, Productivity and Economic Progress, chaired by Roger Martin, which carries out research and provides strategic advice to policy-makers on economic development issues.
• Invested $12.3 million from the Strategic Skills Investment Program in projects with Ontario’s universities and colleges.

Key initiatives: Investment

• Supported the attraction of $223 million in new capital investment, creating over 7,200 new jobs.
• Conducted print and broadcast advertising campaigns in key international markets (U.S., U.K., Germany, Japan and France).
• Intensified investment promotion efforts through a network of in-market representatives specializing in targeted sectors.
• Assisted over 150 business immigrants in establishing companies in Ontario.

Key Initiatives: Trade and International Relations

• Assisted 425 exporters to enter new markets.
• Continued to recognize Ontario’s export successes through the Ontario Global Traders’ Awards Program.
• Intensified trade promotion efforts through a network of in-market representatives specializing in targeted sectors to help increase Ontario’s exports.
• Coordinated royal visit of Queen Elizabeth II in October 2002
• Coordinated participation in the Team Canada Mission to promote trade and investment in Germany and Russia.
• Organized 44 international trade missions, including missions to Japan/Korea, the World Economic Forum in Davos and the U.S.
  Key Initiatives: Field and Entrepreneurship Services
• Provided support and assistance to over 1,200 growth-oriented and leading growth firms through business advisors in 11 offices across southern Ontario.
• Provided assistance to support 228 Summer Company businesses operated through the summer by students aged 15 – 29, and offered 39 My Company loans.
• Launched Future Entrepreneurs, a classroom program about entrepreneurship for students in Grades 7 and 8, with guest speakers, teaching materials and exposure to innovation, technology and enterprising role models.
• Expanded the Small Business Enterprise Centre (SBEC) network to 34 with an additional 10 Business Self Help Offices. Continued to provide assistance and advice to help start and expand small businesses. The network handled more than 242,000 general inquiries, 23,000 consultations and seminar attendance of more than 27,000.
• Hosted Salute to Small Business in October 2002 with dozens of events including more than 20 Bridges to Better Business events across Ontario.

Key Initiatives: Science and Technology Development

• Renewed the Ontario Centres of Excellence program.
• Continued promotion of research and innovation through the Ontario Research and Development Challenge Fund (ORDCF).
• Introduced Youth Science and Technology program in partnership with community groups and the Ontario Youth Science, Technology and Engineering Resource.
• Worked in partnership with community organizations to address connectivity gaps in smaller communities.
• Provided support for federal-provincial discussions on innovation and input into the development of the federal government innovation strategy.

Ministry Expenditures ($ millions), 2002-2003 Actual

Operating: 235
Capital: 23
Staff Strength (as of Mar. 31, 2003): 453.2

NOTE: Starting in 2002-2003, major tangible capital assets owned by provincial ministries (land, buildings and transportation infrastructure) are accounted for on a full accrual accounting basis. Other tangible capital assets owned by provincial ministries will continue to be accounted for as expense in the year of acquisition or construction. All capital assets owned by consolidated government organizations are accounted for on a full accrual basis.

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