Ontario Attracting Investments to Build a Resilient Economy
August 8, 2023
Vic Fedeli, Minister of Economic Development, Job Creation and Trade, issued the following statement on the monthly employment release by Statistics Canada, which showed that while jobs in Ontario decreased in July 2023, the manufacturing sector saw an increase of 7,800 jobs.
“At a time of global uncertainty, our government is working hard to build our manufacturing sectors and create more good-paying jobs for people across the province.
Last month, we added more than 7,800 manufacturing jobs to our economy — more than all 50 U.S. states combined. Manufacturing employment in Ontario is now over 820,000, the highest it has been since December 2008.
We’re training a world-class workforce to attract new investments and jobs, cutting red tape and working with our partners around the world to build a resilient economy.
Ontario’s new Memorandum of Understanding with Michigan, for example, will help increase trade, attract investments and encourage job creation in both jurisdictions, especially in priority areas, such as electric vehicles (EV) and related supply chains. Over the last three years, Ontario has secured over $25 billion in automotive and EV battery-related investments that will create thousands of good-paying jobs. Just this week, NextStar Energy began recruiting for the first 130 workers for their new EV battery manufacturing plant in Windsor.
Through our $140 million Regional Development Program (RDP), we’re also helping local manufacturers invest in the talent and equipment needed to expand and increase their competitiveness. Last month alone, we welcomed over $118 million in investments by Siltech Corporation and Breadsource Corporation to expand and create 64 new jobs.
Our government’s targeted and responsible plan is creating more opportunities for people and businesses today, while laying the foundation for tomorrow. No matter what the future may hold, Ontario will be ready with our plan to build a resilient economy and a stronger Ontario.”
Vic Fedeli,
Minister of Economic Development, Job Creation and Trade
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Ontario and Michigan Strengthen Economic Ties
Ontario and Michigan are building on their longstanding economic relationship through a new partnership that will increase trade, attract investment and encourage job creation in both jurisdictions. The new Economic Cooperation Memorandum of Understanding (MOU) will support joint initiatives in priority areas, such as electric vehicles and related supply chains. These initiatives could include joint trade promotion and missions, new post-secondary exchange programs, and efforts to identify opportunities for strategic partnerships that will help businesses compete internationally.
