Greater Toronto Marketing Alliance International Leaders Breakfast Club

The Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario)

Brampton, Ontario
January 29, 2010

Check against delivery

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Good morning ladies and gentlemen and welcome.

I would like to start off by thanking the Greater Toronto Marketing Alliance for inviting me to be here today.

I can’t think of a more invigorating way to kick-off a Friday morning than to be involved in a discussion with nearly 100 of the region’s most influential business and community leaders.

I’m honoured to be part of today’s session.

I believe that you, as leaders in the Greater Toronto Area, and myself, as Minister of State for the Federal Economic Development Agency for Southern Ontario, share the same vision for the GTA — for the future of its people, industries and position on the national and international stage.

We are all aware of the great potential that exists here.

This morning, I would like to take this opportunity to talk about what the Federal Economic Development Agency for Southern Ontario, or FedDev Ontario as we’ve come to call it, has been doing to ensure this potential is fulfilled …

… As well as share with you information on our programs, activities, focus moving forward and how you can be involved as a partner.

As you all know — over a year ago, a global crisis not of our own making, threatened the economic future of our families and our country.

Our government recognized this and responded by introducing the Economic Action Plan, which includes the largest stimulus package in Canadian history, and one of the largest among all G7 countries.

Southern Ontario and its primary industrial sectors were hit particularly hard by the economic downturn.

When the Economic Action Plan was released last year, Prime Minister Stephen Harper described southern Ontario as a region with distinct needs, adding that its people deserved economic programs delivered in ways specifically tailored to their own priorities.

And FedDev Ontario was established in August to ensure workers and businesses of southern Ontario have the tools they need to succeed and to ensure their priorities are met.

As a lifetime resident of this region, I have witnessed over the years, through good times and challenging times, the strength, determination, innovation and entrepreneurial spirit of the people, businesses and communities of southern Ontario.

As Minister of State for this agency, I am committed to making sure that our communities continue to grow and prosper, so that we can maintain our position as Canada’s industrial and economic powerhouse.

No one can deny that the GTA is vital to Canada and southern Ontario in terms of size and economic influence.

Home to more than five million people, and spanning more than 7,100 square kilometres, it generates more than 20% of our nation’s GDP. As both the industrial and financial capital of Canada, it is no surprise that what takes place here has a direct and significant impact on the rest of southern Ontario, and the rest of this country.

That is why our government is committed to providing resources and support to municipalities throughout the GTA to ensure they are the best places they can be — to live, to work, to play, and to raise families.

This includes attracting investment and increasing employment. And making sure the region is home to dynamic and successful industries, and businesses that offer diverse, innovative products that can compete on the international stage.

Over the last few months, I have been meeting with community leaders to learn about the specific concerns of their cities and towns and to seek suggestions on the best approaches to fostering enhanced productivity, innovation, commercialization, and diversification as we finalize our agency’s roadmap for the next few years.

I can tell you that the focus of our Agency is on creating a leading-edge manufacturing sector; supporting innovation and commercialization; and sustaining community economic development activities.

By following a strategy of enlisting existing programs wherever possible to quickly distribute much-needed funding, we are maximizing the benefits to southern Ontario businesses and communities.

I am proud to say, ladies and gentlemen, that since its creation, FedDev Ontario has announced more than $300 million in stimulus funding for southern Ontario.

One area we recognize needs our immediate attention is making our economy, and its communities, more competitive and diversified.

We recognize that the vast majority of Ontario’s businesses are small- and medium-sized enterprises. These businesses employ nearly 2.9 million Ontarians and account for $250 billion in annual economic activity.

We want businesses to succeed and grow. Our success depends on it. Since launching Canada’s Economic Action Plan, our government’s number one priority has been and continues to be creating jobs. Growth in the job market will set the stage for the prosperity of our region and country. As a government, our job started almost a year ago to the day – when we launched an ambitious plan to get out economy growing again.

Commercialization is another area in which our government plays a key role in enabling the private sector to do what it does best – turn knowledge into innovation, and innovation into greater wealth and well-being for Canadians.

But our government recognizes the barriers facing small- and medium-sized enterprises throughout the region and we are acting quickly to support them.

For example, we have struck partnerships with organizations that have existing programs, such as the Canadian Manufacturers and Exporters’ SMART program, the Ontario Chamber of Commerce’s Export Market Access Program and the National Research Council’s Industrial Research Assistance Program, or NRC IRAP.

Through the NRC program, for example, we are providing financial, technological and networking assistance to a broad range of small and medium-sized enterprises.

Although these companies vary greatly, they have several things in common.

They are all small- and medium-sized enterprises, founded by people with an entrepreneurial spirit and dedicated to transforming new ideas into new solutions, products and services for Canadian and global consumers.

In the GTA alone, we’ve provided nearly $3 million for more than 65 projects through NRC IRAP.

Our agency has also been delivering support through two unique funding programs — the Community Adjustment Fund and the Southern Ontario Development Program.

Last September, we announced more than $101 million would be invested in 90 projects under the Community Adjustment Fund.

Our government introduced this program in the last budget as a national two-year, $1-billion economic stimulus measure. CAF is intended to help mitigate the short-term impacts of the economic downturn by creating employment opportunities and to address transitional and adjustment challenges in restructuring industries or communities.

Projects supported through CAF can help local businesses expand, market a new product or allow communities to invest in tourism and quality infrastructure to attract residents and visitors.

For example, the City of Oshawa received more than $1 million to improve their municipal airport, the Town of Caledon received $7 million to build a community complex and the Town of Milton will use a Community Adjustment Fund investment to renovate a local heritage building for use as an employment help centre.

And just last week, I announced that our government intends to support more than 60 new projects, with a total contribution of nearly $63 million under the general intake of the Southern Ontario Development Program, FedDev Ontario’s core funding program.

I am pleased to say that more than 20 businesses and municipalities throughout the Greater Toronto Area will receive a total of more than $30 million through these two programs in 2009-2010.

These projects will also result in nearly 500 full-time jobs throughout the GTA, which directly impacts residents and gives back to the local economy.

Our government is committed to supporting initiatives like these across southern Ontario that offer significant improvements to local industries, businesses and communities – and we know that the time to invest is now.

In fact, last month, we launched the second intake of the Community Adjustment Fund and announced that an additional $127 million was available for next year for communities, small- and medium-sized businesses and not-for-profit organizations.

And finally, we have committed $20 million for small-and-medium sized businesses with projects related specifically to the food and beverage processing sector, a sector with a large presence in the GTA. We will be announcing successful funding recipients shortly.

Through these investments we’re improving the competitiveness of local businesses, creating full-time, permanent employment, attracting investors to the region and improving the quality of life and sustainability of our communities.

And I’m pleased that entrepreneurs across southern Ontario who have decided to invest in the future of Ontario will receive support through these programs.

As FedDev Ontario concentrates on how to focus our spending for the next year, we will continue to maximize and leverage funding through programs and partnerships that already exist, as well as develop new ones.

We will concentrate on business development, innovation and research, and community economic development activities.

We will continue working with partners, both in government, academia and key industrial and economic sectors to ensure we are supporting the businesses and industries that need help most.

Speaking to you today, a year after the release of Canada's Economic Action Plan, the Canadian economy has begun to turn the corner.

We took the steps necessary to ensure 2009 ends much more optimistically than it began. Our future looks even brighter as a result.

And nationally, more than 12,000 projects and 97 per cent of funds in Canada’s Economic Action Plan have been committed.

For example, here in Brampton, we are providing more than $4.6 million to nine projects through the Recreational Infrastructure Canada, or RInC, Program. By upgrading recreation facilities like the Brampton Soccer Centre, we are going beyond economic stimulus and job creation. We are also encouraging higher levels of participation in physical activity and community building.

We have seen evidence that our government’s actions are having a positive impact on local economies, business forecasts and morale.

We are starting to see signs of a recovery in the economy – for example, more than 50,000 new jobs have been created in Ontario since last summer. However, our economy is still fragile.

We recognize that long-term change does not occur overnight. Just as it was this past year, our priority in the next Session of Parliament will continue to be rapid and effective implementation of Canada’s Economic Action Plan.

Modernizing and improving publicly-shared infrastructure, as well as supporting innovative, green technologies and enhanced skilled trade programs are central to protecting existing jobs and stimulating the creation of new job opportunities.

As we enter Phase II of Canada’s Economic Action plan, our priority will be to continue the rapid implementation of the Economic Action Plan and roll out the remaining stimulus projects across the country.

At the same time, we are also looking ahead to future challenges, especially restoring balanced budgets once our economy is fully recovered and building a strong foundation for future economic growth.

Over the course of the next several weeks, Prime Minister Harper, the cabinet and I will be meeting with and hearing from Canadian families, homeowners, workers, business-owners and industries from across the country about how best to meet our goals for Phase II of Canada’s Economic Action Plan.

Already, close to 200 roundtables, town hall meetings, online consultations and other events are planned throughout the country, concluding with a new Throne Speech on March 3.

Our Government will continue listening to Canadians and acting on their priorities.

Our long-term economic competitiveness depends, as never before, on ideas, innovation and inventiveness. The impressive turnout at today’s breakfast just goes to show how engaged so many of the Greater Toronto Area’s community members and business leaders are in creating such an environment.

I look forward to continuing to work with you – and getting to know you better as individuals – as we work to transform southern Ontario’s economy.

Thank you for providing me with this opportunity to talk to you about our agency and the exciting work we have ahead of us.

Thank you.