Minister of State for the Federal State for the Federal Economic Development Agency for Southern Ontario (FedDev), was on hand at an event hosted by the Cambridge Chamber of Commerce (CCC) to discuss the Economic Action Plan 2013. Minister Goodyear highlighted the fact that since the worst of the global recession Canada has had the best record in job creation among all G-7 countries with nearly 1 million net new jobs.
Canadian Government Funding & Support Will Create Jobs, Growth & Prosperity
The Minister of State; who leads the nation’s science and technology government grants for small business initiatives, also took the opportunity to give early praise to the 2013 Federal Budget and the leading party’s Economic Action Plan. He explained at length how its plans stand to position Canada for greater success in the 21st century economy while creating jobs and growth while setting up the nation for long term prosperity.
Government Funding Canada Key Growth Building Initiatives
The Economic Action Plan 2013 builds on its success to date by relying on the following key initiatives:
- An increase in the support for skills and training, including the new $15,000 small business grants for hiring called the “Canada Job Grant” to help more Canadian find high-quality, well-paying jobs;
- Aiming to help businesses, with emphasis on manufacturers, succeed in the global economy by enhancing the conditions for growth and innovation and extending hiring credits for small businesses who create jobs;
- Through the introduction of a new Building Canada Plan that will lead to better roads, bridges and public transit in cities and communities across Canada; and
- By investing in world-class research and innovation to help ensure new ideas are developed and commercialized.
Minister Goodyear went on to state, “This is great news for the workers, businesses and communities in Southern Ontario,”
New Small Business Funding Grants & Loans in the Works
A major part of the Action Plan includes a renewed pledge for government funding for business through FedDev Ontario. Goodyear drew attention to the fact that the agency has made significant progress since its establishment in 2009 while admitting that the province was still under considerable pressure to become more productive and competitive.
The Economic Action Plan 2013 provides $920 million for Canadian government funding via FedDev Ontario over five years, starting on April 1, 2014, while Ottawa will also allocate $200 million over five years for a new “Advanced Manufacturing Fund” in Ontario.
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