1. Creating a new $2.5 billion Jobs and Prosperity Fund.
- Jurisdictions around the world are aggressively competing for business investment to create jobs and support economic growth.
- The new fund will help secure business investments particularly in growing sectors, such as advanced manufacturing, agri-food, and information and communications technology (ICT).
- “We simply can NOT expect to keep Ontario competitive but then pretend we’re not in a competition.” Premier Kathleen Wynne.
2. Committing $400 million over 10 years to the agri-food sector.
- Part of the new Jobs and Prosperity Fund, supporting the growth of the agri-food sector with a goal of doubling the jobs by 2020.
- Fund would help farmers buy productivity-enhancing machinery and equipment that will help them be more competitive and compete on the global stage.
3. Maintaining a competitive tax system and cutting red tape.
- Saving businesses $9 billion and millions of hours in time by 2016-17.
- Not raising corporate income taxes.
- Cut taxes for 60,000 more small businesses by reforming the Employer Health Tax and removing it from 90% small businesses.
4. Helping small businesses save money on energy costs.
- Expanding two programs (ICI and IEI) to help businesses with their electricity costs.
- Providing small businesses with tools to manage costs and save money on energy bills. Past experience has shown that companies reduce costs by 15-20%.
5. Fostering a culture of entrepreneurship and innovation.
- Expanding exports around the world, ranked 3rd in North America for foreign direct investment (FDI).