Ontario Continues To Attract Transformational Investments To...| MENAFN.COM

Wednesday, 17 August 2022 06:32 GMT

Ontario Continues To Attract Transformational Investments To Support Job Creation


(MENAFN- Caribbean News Global)

TORONTO, Canada — Vic Fedeli, minister of economic development, job creation and trade, issued this statement following today's monthly employment release by Statistics Canada that showed employment in Ontario decreased by 27,400 in July.

“Our government continues to support homegrown companies and promote Ontario as the innovation and manufacturing gateway to North America. We will leave no stone unturned as we work around the clock to attract entrepreneurs and innovators who will support continuous job growth.

Just last month, Ontario welcomed the news that Indian IT services, consulting and business solutions firm Tata Consultancy Services will launch its fifth global innovation hub in Toronto to help Canadian companies develop, trial and adopt new technologies. This new facility will create 5,000 new jobs and 100 new internships across the country, meaning opportunities for the people of Ontario, recent graduates and others looking to build their future here.

Our government was also proud to welcome a $1.5 billion investment by Umicore , a Belgian-based firm, to build a new, net-zero manufacturing facility in eastern Ontario. This first-of-its-kind industrial-scale cathode and precursor materials manufacturing plant will produce key components for electric vehicle (EV) batteries, creating hundreds of jobs while supporting our vision of building an end-to-end EV supply chain right here in Ontario.

Over the past 20 months, Ontario has attracted nearly $16 billion in transformative automotive manufacturing investments and new electric vehicle production mandates that will create thousands of well-paying jobs for people in Ontario. Since our government first took office in 2018, more than 500,000 new jobs have been created.

“It's important now more than ever that we build on successful investments like this and work together to rebuild Ontario's economy and foster prosperity for all people. Our government will continue to champion and support our industry leaders and innovators so that we can create and protect jobs, support businesses and promote trade and investment.”

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