One year into office, Ontario's government continues to send the message that the province is open for business by creating an environment where businesses can thrive, grow, and create good jobs for the people.
Statistics Canada announced this morning that employment in Ontario increased by 20,900 in May.
The Ontario government is focused on growing the economy. The government is restoring fiscal responsibility to promote growth, and in turn, businesses are investing in Ontario and expanding job opportunities. The results were reflected in the release of Ontario's 2019 Budget, Protecting What Matters Most, which sets out a five-year path to a balanced budget to protect critical public services such as health care and education.
Through the 2019 Budget, the government is delivering on its commitment to reduce business taxes earlier than promised by providing $3.8 billion in Ontario Corporate Income Tax relief over six years to support business investment through the Ontario Job Creation Investment Incentive. The incentive will help businesses make investments in machinery upgrades and expansions to help them grow and stimulate job creation.
- Employment growth occurred in many regions across the province; year-over-year increases include Kingston-Pembroke (9.3 per cent), Kitchener-Waterloo-Barrie (6.1 per cent) and Muskoka-Kawarthas (3.5 per cent).
- Since June 2018, employment has increased by 191,200.
- The government is committed to cutting red tape and reducing regulatory burdens to help lower the costs of doing business and support economic growth throughout the province. Ontario’s Open for Business Action Plan has set targets of reducing regulatory red tape affecting businesses by 25 per cent and the cost of complying with regulations by $400 million annually by 2020 to help business keep, grow and create good jobs.