Invest Ontario – A New Provincial Funding Agency
During the Ontario 2021 Budget, it was announced that a pool of funding would be allocated through the creation of a new funding agency called Invest Ontario. This new agency is being built to increase Ontario’s global competitiveness in attracting businesses from around the world to establish themselves in the province.
The Invest Ontario agency was provided with $400M as part of the Ontario 2021 Budget.
Read on to find out who is behind this new agency and what its goals are.
Invest Ontario Board Members
The Chair of Invest Ontario is Elyse Allan, an accomplished executive with experience in driving growth, technology, and innovation. The board members have been chosen to help bring extensive experience and expertise in advanced manufacturing, technology, and life science sectors that serve as initial areas of focus for the agency. These board members include Anna Barrett, Janet Ecker, Ernie Eves, Cecil Hawkins, Andrew MacLeod, Joseph S. Mancinelli, Gadi Mayman, Carmine Nigro, Ajay Virmani, and James Wallace.
These members will report to Vic Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade and will advise on key opportunities to showcase the province’s unique value propositions in an increasingly competitive global marketplace.
“Now more than ever, it’s critical to position Ontario as a top tier destination for investment. A key measure to support this objective is the creation of a new investment attraction agency, Invest Ontario. Invest Ontario will be supported by a team of business development executives who bring a private-sector approach to attracting large-scale, high-quality investments to help drive our economy forward and cement our position as the economic engine of Canada.” – Minister Fedeli
What Invest Ontario Does for Ontarians
The Invest Ontario agency will make Ontario more competitive with new funding programs while sending a strong signal to investors that the province is open for business. It will be a “one stop shop” for businesses and investors. It will move at the speed of business and drive greater economic growth, support strategic domestic firms, and attract business from around the world to create good jobs in Ontario.
Invest Ontario will include greater business development and deal structuring expertise and will build on the many benefits of investing in Ontario, including: a good quality of life, a highly skilled talent pool, a strong and growing innovation sector, and a pro-job creation jurisdiction that can help businesses thrive.
Find Ontario Government Grant and Loan Programs
The Ontario provincial government offers a wide variety of grant and loan programs for local businesses. You can sort all available funding programs by visiting the Ontario Funding Directory. Funding programs include hiring and training grants, exporting funds, R&D funding, and capital investments.
Learn about the different forms of funding your business can utilize by downloading our Types of Funding Guide for free. This document will show Canadian businesses how they can go about positioning their growth projects in a way that aligns with government funding programs.