Invest Ontario – A New Provincial Funding Agency with $400M
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.
Ontario is Open for Business.
Invest Ontario will be the central agency for businesses and investors to discover what others from around the province and globe have already realized – that Ontario is a top-tier destination for investment and strategic business growth. The new agency will drive greater economic growth, support strategic domestic firms and attract business from around the world.
Whether already located in Ontario and looking to grow, or considering Ontario for the first time, Invest Ontario will provide the business development and planning expertise needed business thrive. By investing in Ontario, companies will benefit directly from Ontario's high quality of life, highly skilled talent pool, competitive business costs, access to global markets and strong innovation ecosystem.
As Ontario continues to reopen for business, Invest Ontario will initially focus on three strategic sectors where the province has a global competitive advantage — advanced manufacturing, life sciences, and technology — all while moving at the speed of business. .
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.