Ontario's Open for Jobs Plan WorkingPublished on January 10, 2020
Full-time employment growth in Canada driven by gains in Ontario
The government's plan to build Ontario together is working — creating more jobs, putting more money in people's pockets and building towards the future.
Statistics Canada announced this morning that employment in Ontario increased by 25,100 in December. Since June 2018, employment in Ontario has risen by 296,700.
"We are working to create an environment that attracts investment and encourages entrepreneurs to grow their businesses and create high-paying, good quality jobs in Ontario, and we are seeing the results of that," said Vic Fedeli, Minister of Economic Development, Job Creation and Trade.
Last month, the Ontario Legislature officially passed the Better for People, Smarter for Business Act, 2019. The Act is part of the government's signature package to address red tape and modernize regulations to make life easier for people and business. The legislation will lower the cost of doing business by making it simpler and more cost-effective to comply with regulations — leading to more jobs, higher wages and more opportunities for hard-working families.
Throughout 2020, the government is committed to continuing to find ways to reduce regulatory burden with legislative packages and several new initiatives.
"Ontario is heading in the right direction," said Fedeli. "By reducing small business taxes and cutting red tape, we are creating a more competitive business landscape and giving job-creators the tools they need to create more jobs and build a more prosperous Ontario."
- Full-time employment growth in Canada driven by gains in Ontario. Employment in Ontario grew by 243,000 in 2019.
- Overall, Ontario’s small businesses will save $2.3 billion in 2020 through actions the government is taking such as cancelling the cap-and-trade carbon tax, keeping the minimum wage at $14 per hour, supporting Workplace Safety & Insurance Board premium reductions and delivering Ontario Corporate Income Tax relief through the Capital Cost Allowance.
- A number of significant government actions are lowering costs for businesses in Ontario, allowing them to grow and create jobs, and creating a competitive environment to attract new investment. It is estimated that Ontario businesses could save $5.4 billion in 2020 through these actions.
- Ontario has cut the small business Corporate Income Tax (CIT) rate by 8.7 per cent and reduced the rate to 3.2 per cent. Supporting small businesses is part of the government's plan to attract investment and enable entrepreneurs and risk takers to grow their businesses and create high-paying, good quality jobs.
- Small businesses have benefited from accelerated write-offs of capital investments as well as the government’s decision to not parallel a federal measure that would have increased taxes on some small businesses earning passive investment income.
- Ontario has launched the Job Site Challenge to identify shovel-ready mega sites where automakers or other advanced manufacturer could build a large plant that would create thousands of direct and supply-chain jobs.
- The government has launched a new Regional Development Program for eastern and southwestern Ontario. Businesses can get financial support through the Eastern Ontario Development Fund (EODF) and Southwestern Ontario Development Fund (SWODF) and guided access to a range of complementary services and supports.
- Ontario will create the Premier’s Advisory Council on Competitiveness to work with business leaders and workers across the province to find ways to improve competitiveness and report back with actionable recommendations.