The new Southwestern Ontario Development Fund is now open and receiving applications from companies that are driving innovation, growing the economy and creating local jobs.
Modelled on the successful Eastern Ontario Development Fund, which government officials say has helped create and retain 13,200 jobs, this fund will help diversify and strengthen southwestern Ontario’s economy by encouraging businesses to pursue innovation and new markets, states a press release from the office of Guelph MPP Liz Sandals.
The release says attracting investment and building business is a key part of the McGuinty government’s plan to create jobs and strengthen the economy, which helps protect the services that matter to Ontario families – health care and education.
This is a great opportunity for businesses in Guelph and other communities in Southwestern Ontario to come forward in an effort to grow their business, create employment opportunities and expand Guelph’s economy,” said Sandals.
Added Brad Duguid, Minister of Economic Development and Innovation, “Our government is proud to partner with local businesses committed to investing in innovative projects, growing their operations, and creating jobs in southwestern Ontario.
“We’ll continue to work with Ontario communities province-wide to grow local economies and attract the jobs of the future.”
According to the government, employment in Ontario has increased by 356,000 net jobs from the recessionary low in June 2009.
Recognizing that each region of Ontario has separate and distinct requirements, the renewed Eastern Ontario Development Fund, the new Southwestern Ontario Development Fund, and the programs run by the Northern Ontario Heritage Fund Corporation will remain separate from the new Jobs and Prosperity Fund announced in the 2012 Ontario budget.
