Focusing on areas experiencing slower growth
TORONTO, Dec. 7 /CNW/ - The McGuinty government is providing more than $190 million to assist Ontario families and communities affected by the province's moderate economic growth, said Finance Minister Greg Sorbara.
"While the economy is fundamentally strong, the current situation demands proactive steps to boost jobs and growth," said Sorbara. "These investments will continue to strengthen Ontario's foundation for long-term prosperity and build on the overall economic plan."
In light of more moderate growth, the Finance Minister unveiled today
measures to stimulate the provincial economy by focusing on four key areas.
This year, the government will:
- Invest approximately $150 million to fast-track province-wide
infrastructure projects, which leverages an additional approximate
$185 million in capital spending;
- Provide over $20 million to enhance skills training and job
services for laid-off workers and apprentices, and bridge training
and other services that help new Canadians;
- Spend $22 million to advance tourism initiatives, which leverages
almost $10 in visitor spending for every dollar invested; and
- Strengthen inter-provincial trade initiatives.
Through the initiatives in today's announcement, the equivalent of 3,000 jobs for one year will be created - that is on top of the 270,000 net new jobs the McGuinty government has created since 2003.
Details of these measures will be announced in the weeks ahead as government representatives introduce their respective initiatives.
"In the face of recent pressures, our economy has been resilient and
these steps are strengthening it further," said Sorbara. "Our targeted approach to economic development means that we are getting the best use from public funds to create new opportunities for Ontarians who need them most."
