$650-Million Fund Will Create the Next Generation of Green Technologies and Good, High Paying Jobs
A new $650-million fund will secure the next generation of high-paying jobs for Ontarians by developing clean and green technologies and businesses in Ontario, says Premier Dalton McGuinty.
"There's a huge opportunity out there and Ontario is determined to seize it for our people and our economy," McGuinty said.
"With the world looking for innovative ways to conserve energy and fight global warming, some place is going to secure thousands of jobs by researching and developing new solutions, and we want that place to be Ontario."
Premier McGuinty unveiled the Next Generation Jobs Fund, which will make $650 million available to companies looking to invest in the development of clean cars, clean fuels, and clean technologies and products here in Ontario.
To bid for financial support from the fund, companies will have to demonstrate they can:
- Secure good jobs for Ontarians
- Reduce greenhouse gas emissions
- Help establish Ontario as a global leader in an emerging market
- Build on existing expertise in areas in which Ontario has a strong
research and commercial base or create new expertise, and
- Create synergies among researchers, business people and
The fund will be modeled after the successful $500 million Ontario Automotive Strategy which has helped to leverage more than $7 billion in total new auto investments in the province over the past four years.
"The approach is tried and true: we know we can attract investment and create and keep good full-time jobs by working with companies that are looking for the most aggressive and innovative places in North America," McGuinty said.
"What's new is designing a fund specifically to develop and manufacture green technologies and products across all sectors. There are people out there who claim you have to choose between a strong economy and a clean environment. We understand that, in today's world, to grow your economy you must green your economy."
"The ability to innovate is key to Ontario's economic prosperity," said Sandra Pupatello, Minister of Economic Development and Trade. "The McGuinty government is committed to helping the province's industries make high-quality, environmentally-sensitive products for their customers and the next generation of highly skilled jobs for their employees."
"What's good for business must also be good for the environment," said Bill White, President of DuPont Canada. "DuPont's Research and Development Centre demonstrates how businesses offer quality jobs in the development of new green technology - such as biofuels and polymers made with corn and other renewable resources - that lead to quality jobs with our Canadian and global manufacturing customers."
"We see the government's challenge of developing even more leading-edge, efficient and low emission vehicles as a great opportunity for our industry," said Arturo Elias, President of GM Canada. "This is the kind of positive partnership that can accelerate green vehicle technologies while also helping to ensure we remain at the forefront of competitive jurisdictions to invest, employ and grow for the future."
"We have industries that are among the most productive and innovative in the world, scientists who are among the best and brightest and workers who have the best skills and knowledge on the continent," said Premier McGuinty. "The world is looking for solutions. Ontario has the people and the know-how to deliver them. And this fund will help make it happen, creating jobs and investment."