Building a strong and prosperous Canada, through a strong and prosperous Ontario
Southern Ontario is home to a dynamic, talented, hard-working workforce and vibrant, sustainable communities. The region plays an important role in Canada's overall economy, home to a third of the nation's total population, and accounting for more than a third of national employment and annual economic output. Securing Canada's long-term national prosperity requires a continued commitment by both business and government to confront economic challenges and seize opportunities, to re-establish Ontario as a key driver of innovation and growth within the Canadian economy.
Through Budget 2013, the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) was renewed with an additional five-year mandate, beginning in April 2014, to help create and grow businesses, cultivate partnerships and build strong communities across southern Ontario. FedDev Ontario is aware of the ever-changing economic landscape in the region. To continue to help the region achieve economic prosperity, FedDev Ontario will:
- Foster a more competitive southern Ontario economy by supporting entrepreneurs and building a portfolio of early-stage, globally-oriented businesses with the ability to become world leading innovators, through the Investing in Business Innovation initiative;
- Assist existing southern Ontario businesses adopt new technologies that have the potential to improve productivity and expand their operations, through the Investing in Business Growth and Productivity initiative;
- Build collaborations between the private sector and research institutions, post-secondary institutions and not-for-profit organizations to help address the innovation and commercialization gap, through the Investing in Commercialization Partnerships initiative, so that the region can compete on an international platform;
- Work to build stronger, more diverse economies in southern Ontario communities in the long-term by leveraging unique assets and local expertise, and by creating opportunities for economic growth and development in communities across southern Ontario, through the Investing in Regional Diversification initiative;
- Continue to strengthen innovation, entrepreneurship, partnerships, and diversification of economic activities in official language minority communities through the Economic Development Initiative;
- Promote continued growth of Ontario's advanced manufacturing sector by supporting large-scale, transformative manufacturing activities and by fostering collaboration between the private sector, research institutes and post-secondary institutions to: increase productivity; advance the development or adoption of cutting-edge technologies; and establish clusters or global supply chains, through the Advanced Manufacturing Fund; and
- Continue to promote business development, job creation and strengthened communities in rural eastern Ontario through the five-year extension of the Eastern Ontario Development Program.
Contact FedDev Ontario for more information.
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