Ontario : A Powerhouse Economy

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Ontario Canada is Open for Business

Ontario is open to business, open to foreign investment, and open to talent,
while focusing on reducing red tape and creating optimum conditions
for companies to thrive.

Canada’s most populous and diverse province has added more than 271,600
jobs since June 2018 and government initiatives in 2019 will save Ontario’s businesses $5.4 billion in 2020.

It is no secret that Ontario is the destination of choice for foreign investors.

IBM’s 2019 Global Location Trends report found Ontario outpaced all other provinces and states in terms of new jobs created out of foreign direct investment. FDI accounted for the creation of more than 10,000 jobs in Ontario, with Toronto, its largest city, leading all other metropolitan areas on the continent. Ottawa also made the list of top destinations.

Foreign investment in Canada stands at approximately $877 billion and about 1.9 million are employed by foreign-controlled multinationals in Canada.

Ontario is at the heart of North America, a landscape of land and lakes bigger than Texas and more than double the size of California that stretches from the resource-rich rugged north to the farms, vineyards and urban centres of the south.

Ontario is home to more than 14 million people – 40 per cent of Canada’s population. The province is younger than any country in the G7 and has welcomed people from more than 150 nations. Close to 30 per cent of Ontarians are foreign born.

Ontario is where innovation and emerging technology meets the muscle of the industrial economy. It is better educated than any OECD country, with 68 per cent of Ontario adults possessing a post-secondary education.

The province is tightly integrated into the North American market and home to world renowned universities and colleges producing more than 40,000 STEM graduates a year, Top 5 in the continent.

The recognitions for Ontario are growing

Ontario was at the top of the Site Selection magazine’s Canadian Competitiveness Rankings in 2019, thanks to the provincial government’s red tape reduction initiatives and 2020 goal to cut unnecessary or outdated regulations by another 25 per cent. Along with the nod to the province, nine Ontario cities were named among the 20 Canadian cities for investment.

The Canadian Federation of Independent Business in its 2019 Red Tape Report Card gives the province an A–. Ontario has also streamlined its site selection processes for foreign investors and has recently signed an agreement to increase research and economic opportunities with India.

Another major win for Ontario is the announcement in late 2019 that Mississauga will be home to Bombardier’s new Global Manufacturing Centre for business jets. The city ranked second in fDi Magazine’s Aerospace Cities of the Future in 2019.

All That the Future Should Be

Like the rest of Canada, Ontario has earned a global reputation for its enviable standard of living and a culture that welcomes and celebrates diversity.

Canada is ranked the second-most politically stable nation, is admired for its public health and education systems, and is renowned for having the world’s strongest banking system. It’s no wonder Canada has repeatedly been named the second-best country in the world to headquarter a business.

Added to all that, businesses in Ontario benefit from lower corporate taxes, utility rates, and employer health costs, thanks to the province’s universal healthcare system.

Ontario is all that the future should be: an inclusive and beautiful place with a quality of life that attracts next-generation talent, a commitment to and understanding of the needs of business, and an infrastructure underpinning Canada’s economic engine.

In all ways, Ontario is a perfect landing for companies from around the world looking to expand internationally or to break into the North American market.

A few Key Sectors Driving Ontario’s Economy: