Ontario continues to attract investment and build new Oppo… | Tech US News


(MENAFN- Caribbean News World)

TORONTO, Canada – Vic Fedeli, director of economic development, job creation and trade, made this announcement following today’s monthly jobs release from Statistics Canada which found that employment in Ontario increased by 42,700 jobs in October:

“Our government remains committed to investment transformation that will create more good-paying jobs for the people of Ontario. In October, Ontario saw the largest increase in employment overall across the country, with 42,700 more people currently employed, including 4,600 in manufacturing. With world-class talent, state-of-the-art research and development and a stable, safe workplace , Ontario has everything companies need to grow.

Last month, Ontario received a $340 million investment from Nokia Corporation to build their new Canadian headquarters in Ottawa. This investment will ensure Ontario remains a global leader in innovation and technology, while also creating more than 340 valuable jobs in the Ottawa region. Global companies are looking to Ontario for their future, and attracting international partners like Nokia is proof that Ontario is open for business and open for employment.

These are the words that we have heard many times during our recent business trips to Germany and Austria. This business objective has given us a valuable opportunity to strengthen relationships with our international partners, while also promoting Ontario as a place to do business. As part of the mission, Ontario extended its Memorandum of Understanding with the German state of Baden-W├╝rttemberg and met with ITM Isotope Technology Munich to celebrate their partnership with Bruce Power , Isogen and the Saugeen Ojibway Nation to share a new, made-in-Ontario, potentially life-saving medical isotope. Both of these benefits will support innovation and future growth in Ontario, especially in the life sciences and automotive industries.

Our government also supports domestic companies and their efforts to expand. Ontario is investing more than $100 million through the Regional Development Program to support business development at the regional level. To date, $68 million has been invested in 62 companies across the province through Eastern Ontario Development Fund and Southwestern Ontario Development Fund flows. This fund has supported $736 million in investment to create more than 1,300 jobs.

“As we look to the future, we know that Ontario’s workforce is the best and brightest in the world. Together we will continue to build Ontario and create opportunities for all people. “


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