June 20, 2007

Ontario government fund will secure “clean and green” jobs and businesses

Oshawa, Ontario – The new $650 million Next Generation Jobs Fund announced by Ontario premier Dalton McGuinty will make funds available to companies looking to invest in the development of clean cars, fuels, technologies and products in the province, and will secure the next generation of high-paying jobs, the premier says.

“There’s a huge opportunity out there and Ontario is determined to seize it for our people and our economy,” McGuinty says. “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.”

To bid for financial support from the fund, companies will have to demonstrate that 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 which Ontario has a strong research and commercial base, or create new expertise; and create synergies among researchers, business people and entrepreneurs.

The fund will be modelled after the $500 million Ontario Automotive Strategy, which has helped to leverage over $7 billion in total new auto investments in the province over the past four years.

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