Expenditure Estimates for the Ministry of Economic Development, Job Creation and Trade (2024-25)
The 2024-2025 Expenditure Estimates set out details of the operating and capital spending requirements of the Ministry of Economic Development, Job Creation and Trade for the fiscal year commencing April 1, 2024.
Summary
The Ministry supports economic growth and job creation focussed on delivering value for money, enhanced accountability, and improved transparency for all Ontarians by:
- Providing programs and services that help increase Ontario's overall productivity and competitiveness, and help companies launch, innovate, grow, scale and harness the right talent
- Leading an all-of-government approach to develop and implement cross-cutting policies and strategies to ensure Ontario remains globally competitive and on a path towards continued innovation and economic growth
- Partnering with industry, associations, sector organizations, academia, local partners and other levels of government to develop policies, strategies, and solutions that strengthen Ontario’s regional economies, competitiveness and innovation
- Developing and implementing strategies, policies and programs that strengthen the economy of regions across the province, priority sectors and develop the innovation ecosystem for companies to start-up, scale-up and anchor their growth in Ontario.
- Supporting Ontario’s venture capital ecosystem to help companies grow and compete globally.
The Ministry also promotes Ontario as a top-tier trading partner and investment destination, showcasing how we are making it easier to establish and do business in the province. Through its international network of Trade and Investment Offices, and the delivery of trade policy and program supports, the Ministry protects Ontario’s interests in free trade agreements and helps businesses increase their exports to grow and scale.
Through its agency, Invest Ontario, the Ministry promotes Ontario as a top-tier investment destination, showing the world how we are making it easier to invest and do business in the province.
| Vote | Program | Estimates 2024-25 $ | Estimates 2023-24 $ | Difference Between 2024-25 and 2023-24 $ | Actual 2022-23 $ |
|---|---|---|---|---|---|
Operating expense | |||||
| 901 | Ministry Administration Program | 23,624,500 | 23,140,900 | 483,600 | 18,973,089 |
| 902 | Economic Development, Job Creation and Trade Program | 2,661,905,800 | 1,284,810,200 | 1,377,095,600 | 1,050,567,830 |
| Total Operating Expense to be Voted | 2,685,530,300 | 1,307,951,100 | 1,377,579,200 | 1,069,540,919 | |
| Statutory Appropriations | 529,565 | 1,182,187 | (652,622) | 2,172,683 | |
| Ministry Total Operating Expense | 2,686,059,865 | 1,309,133,287 | 1,376,926,578 | 1,071,713,602 | |
| Consolidation Adjustment - Venture Ontario | 837,700 | 671,400 | 166,300 | 2,388,632 | |
| Consolidation Adjustment - General Real Estate Portfolio | - | - | - | (137) | |
| Consolidation Adjustment - Invest Ontario | - | - | - | (542,026) | |
| Consolidation Adjustment - Ontario Infrastructure and Lands Corporation | (7,440,000) | - | (7,440,000) | - | |
| Total Including Consolidation and Other Adjustments | 2,679,457,565 | 1,309,804,687 | 1,369,652,878 | 1,073,560,071 | |
Operating assets | |||||
| 902 | Economic Development, Job Creation and Trade Program | 141,965,400 | 109,722,000 | 32,243,400 | 23,907,240 |
| Total Operating Assets to be Voted | 141,965,400 | 109,722,000 | 32,243,400 | 23,907,240 | |
| Ministry Total Operating Assets | 141,965,400 | 109,722,000 | 32,243,400 | 23,907,240 | |
Capital expense | |||||
| 902 | Economic Development, Job Creation and Trade Program | 3,000 | 3,000 | - | - |
| Total Capital Expense to be Voted | 3,000 | 3,000 | - | - | |
| Statutory Appropriations | 1,000 | 1,000 | - | - | |
| Ministry Total Capital Expense | 4,000 | 4,000 | - | - | |
| Total Including Consolidation and Other Adjustments | 4,000 | 4,000 | - | - | |
Capital assets | |||||
| 902 | Economic Development, Job Creation and Trade Program | 2,000 | 2,000 | - | - |
| Total Capital Assets to be Voted | 2,000 | 2,000 | - | - | |
| Ministry Total Capital Assets | 2,000 | 2,000 | - | - | |
| Ministry Total Operating and Capital Including Consolidation and Other Adjustments (not including Assets) | 2,679,461,565 | 1,309,808,687 | 1,369,652,878 | 1,073,560,071 | |
Reconciliation to Previously Published Data
| Operating Expense | Estimates 2023-24 $ | Actual 2022-23 $ |
|---|---|---|
| Total Operating Expense previously published | 1,309,133,287 | 1,078,357,208 |
| Government Reorganization | ||
Transfer of functions to other Ministries | - | (6,643,606) |
| Restated Total Operating Expense | 1,309,133,287 | 1,071,713,602 |
Ministry Administration Program - Vote 901
This program provides financial, human resources, planning, legal, and other corporate services for the operational programs and certain agencies of the Ministry.
| Item number | Item | Estimates 2024-25 $ | Estimates 2023-24 $ | Difference Between 2024-25 and 2023-24 $ | Actual 2022-23 $ |
|---|---|---|---|---|---|
Operating expense | |||||
| 1 | Ministry Administration | 23,624,500 | 23,140,900 | 483,600 | 18,973,089 |
| Total Operating Expense to be Voted | 23,624,500 | 23,140,900 | 483,600 | 18,973,089 | |
| S | Minister's Salary, the Executive Council Act | 47,841 | 47,841 | - | 87,235 |
| S | Minister without Portfolio’s Salary, the Executive Council Act | 22,378 | - | 22,378 | 5,159 |
| S | Parliamentary Assistants' Salaries, the Executive Council Act | 32,346 | 32,346 | - | 41,853 |
| S | Bad Debt Expense, the Financial Administration Act | 1,000 | 1,000 | - | - |
| Total Statutory Appropriations | 103,565 | 81,187 | 22,378 | 134,247 | |
| Total Operating Expense | 23,728,065 | 23,222,087 | 505,978 | 19,107,336 | |
| Vote- Item number | Standard account by item and sub-items | Amount $ | Amount $ | ||
|---|---|---|---|---|---|
Operating expense | |||||
| 901-1 | Ministry Administration | ||||
Salaries and wages | 14,436,300 | ||||
Employee benefits | 1,486,500 | ||||
Transportation and communication | 630,000 | ||||
Services | 6,617,600 | ||||
Supplies and equipment | 454,100 | ||||
Other transactions | 100,000 | ||||
| Subtotal | 23,724,500 | ||||
| Less: Recoveries | 100,000 | ||||
| Total Operating Expense to be Voted | 23,624,500 | ||||
| Sub-Items: | |||||
| Main Office | |||||
Salaries and wages | 6,481,700 | ||||
Employee benefits | 618,800 | ||||
Transportation and communication | 185,000 | ||||
Services | 1,789,500 | ||||
Supplies and equipment | 75,000 | 9,150,000 | |||
| Planning and Finance | |||||
Salaries and wages | 3,695,500 | ||||
Employee benefits | 428,300 | ||||
Transportation and communication | 350,000 | ||||
Services | 1,680,100 | ||||
Supplies and equipment | 192,500 | ||||
Other transactions | 100,000 | ||||
Subtotal | 6,446,400 | ||||
Less: Recoveries | 100,000 | 6,346,400 | |||
| Human Resources | |||||
Salaries and wages | 1,069,400 | ||||
Employee benefits | 105,400 | ||||
Transportation and communication | 40,000 | ||||
Services | 183,000 | ||||
Supplies and equipment | 20,000 | 1,417,800 | |||
| Communications Services | |||||
Salaries and wages | 3,154,700 | ||||
Employee benefits | 332,000 | ||||
Transportation and communication | 35,000 | ||||
Services | 700,000 | ||||
Supplies and equipment | 40,000 | 4,261,700 | |||
| Legal Services | |||||
Salaries and wages | 35,000 | ||||
Employee benefits | 2,000 | ||||
Transportation and communication | 20,000 | ||||
Services | 2,265,000 | ||||
Supplies and equipment | 126,600 | 2,448,600 | |||
| Total Operating Expense to be Voted | 23,624,500 | ||||
| Statutory Appropriations | |||||
| Statutory | Minister's Salary, the Executive Council Act | 47,841 | |||
| Statutory | Minister without Portfolio’s Salary, the Executive Council Act | 22,378 | |||
| Statutory | Parliamentary Assistants' Salaries, the Executive Council Act | 32,346 | |||
| Statutory Appropriations | |||||
Other transactions | |||||
| Statutory | Bad Debt Expense, the Financial Administration Act | 1,000 | |||
| Total Operating Expense for Ministry Administration Program | 23,728,065 | ||||
Economic Development, Job Creation and Trade Program - Vote 902
This program supports economic growth and job creation in Ontario by:
- Delivering and managing related funding and business support programs
- Engaging with industry to support Ontario priorities and issues management
- Collaborating with partner ministries to develop policies and strategies to improve business competitiveness, and strengthen the innovation ecosystem
- Ensuring Ontario's interests are well-represented in all trade matters and negotiations, developing investment and trade strategies to increase Ontario's competitiveness domestically and internationally
- Identifying potential sites well suited for major industrial investments and working with municipalities, landowners, and utility partners to make these sites investment ready
- Attracting, promoting, and facilitating exports and investment through Ontario’s international network of 15 Trade and Investment Offices
- Delivering export support programs to grow the number of Ontario exporters and increase exports
- Providing broader investment services and valuable connections for investors looking to establish their businesses in the province
- Advancing Foreign Direct Investment in Ontario and building strategic partnerships with leading companies and stakeholders within key sectors of Ontario’s economy
- Attracting and growing investment in key business clusters, regions, and sectors, such as automotive, advanced manufacturing, biomanufacturing, life sciences, and technology
- Establishing a Land Development Allocation to finance the development of an inventory of assembled and serviceable industrial sites that equips Ontario to secure high-value strategic greenfield projects in its investment pipeline.
Ontario’s investment attraction agency, Invest Ontario, plays a pivotal role in the province’s growth. It works to secure anchor and next generation investments that will create jobs, increase resilience, diversify our economy, and create new opportunities across value and supply chains.
The Ministry is delivering technology, development, adoption and talent programs that build strong relationships with members of the entrepreneurial and innovation ecosystem and to provide them with access to capital and services to scale-up their businesses and create jobs.
The Ministry also supports Intellectual Property Ontario, a new go-to resource that will help researchers and companies maximize the value of their intellectual property (IP) and strengthen their capacity to grow and compete in the global market.
| Item number | Item | Estimates 2024-25 $ | Estimates 2023-24 $ | Difference Between 2024-25 and 2023-24 $ | Actual 2022-23 $ |
|---|---|---|---|---|---|
Operating expense | |||||
| 13 | Economic Development, Job Creation and Trade | 2,661,905,800 | 1,284,810,200 | 1,377,095,600 | 1,050,567,830 |
| Total Operating Expense to be Voted | 2,661,905,800 | 1,284,810,200 | 1,377,095,600 | 1,050,567,830 | |
| S | Bad Debt Expense, the Financial Administration Act | 426,000 | 1,101,000 | (675,000) | 2,038,436 |
| Total Statutory Appropriations | 426,000 | 1,101,000 | (675,000) | 2,038,436 | |
| Total Operating Expense | 2,662,331,800 | 1,285,911,200 | 1,376,420,600 | 1,052,606,266 | |
Operating assets | |||||
| 14 | Economic Development, Job Creation and Trade | 141,965,400 | 109,722,000 | 32,243,400 | 23,907,240 |
| Total Operating Assets to be Voted | 141,965,400 | 109,722,000 | 32,243,400 | 23,907,240 | |
| Total Operating Assets | 141,965,400 | 109,722,000 | 32,243,400 | 23,907,240 | |
Capital expense | |||||
| 21 | Economic Development, Job Creation and Trade | 3,000 | 3,000 | - | - |
| Total Capital Expense to be Voted | 3,000 | 3,000 | - | - | |
| S | Amortization, the Financial Administration Act | 1,000 | 1,000 | - | - |
| Total Statutory Appropriations | 1,000 | 1,000 | - | - | |
| Total Capital Expense | 4,000 | 4,000 | - | - | |
Capital assets | |||||
| 22 | Economic Development, Job Creation and Trade | 2,000 | 2,000 | - | - |
| Total Capital Assets to be Voted | 2,000 | 2,000 | - | - | |
| Total Capital Assets | 2,000 | 2,000 | - | - | |
| Vote- Item number | Standard Account by Item and Sub-Items | Amount $ | Amount $ | Amount $ | |
|---|---|---|---|---|---|
Operating expense | |||||
| 902-13 | Economic Development, Job Creation and Trade | ||||
Salaries and wages | 43,418,200 | ||||
Employee benefits | 5,116,500 | ||||
Transportation and communication | 3,677,900 | ||||
Services | 110,002,100 | ||||
Supplies and equipment | 1,126,100 | ||||
Transfer payments | |||||
Auto Assemblers Investments | 2,100,000 | ||||
Automotive Plan | 4,000,000 | ||||
Commercialization and Innovation Network Support | 19,304,200 | ||||
Communitech Hub | 3,900,000 | ||||
Critical Technologies Initiative | 40,700,000 | ||||
Futurpreneur | 2,000,000 | ||||
Industrial Land Development | 797,485,000 | ||||
Intellectual Property Ontario | 13,933,600 | ||||
Invest Ontario Fund | 94,900,000 | ||||
Invest Ontario Fund - Operating | 13,910,000 | ||||
Investment Attraction Organizations | 3,000,000 | ||||
Jobs and Prosperity Fund and Other Business Support Programs | 75,238,000 | ||||
Life Sciences Strategy | 16,300,000 | ||||
Ontario Business-Research Institute Tax Credit | 24,505,300 | ||||
Ontario Centre of Innovation | 13,900,000 | ||||
Ontario Innovation Tax Credit | 185,661,200 | ||||
Ontario Made Manufacturing Investment Tax Credit | 275,000,000 | ||||
Ontario-Québec Francophonie Trade Award | 20,000 | ||||
Ontario Vehicle Innovation Network | 13,850,000 | ||||
Regional Opportunities Investment Tax Credit | 65,702,400 | ||||
Small Business Digitization Competence Centre | 3,600,000 | ||||
Sector Support Grants | 16,161,100 | ||||
Small Business Enterprise Centres Entrepreneurship Programs | 14,276,000 | ||||
Strategic Investments | 798,821,100 | ||||
Trillium Network for Advanced Manufacturing | 500,000 | 2,498,767,900 | |||
| Subtotal | 2,662,108,700 | ||||
| Less: Recoveries | 202,900 | ||||
| Total Operating Expense to be Voted | 2,661,905,800 | ||||
| Sub-Items: | |||||
| Economic Development and Investment | |||||
Salaries and wages | 16,514,600 | ||||
Employee benefits | 2,083,200 | ||||
Transportation and communication | 1,562,800 | ||||
Services | 95,306,300 | ||||
Supplies and equipment | 465,200 | ||||
Transfer payments | |||||
Auto Assemblers Investments | 2,100,000 | ||||
Automotive Plan | 4,000,000 | ||||
Critical Technologies Initiative | 40,700,000 | ||||
Futurpreneur | 2,000,000 | ||||
Industrial Land Development | 797,485,000 | ||||
Invest Ontario Fund | 94,900,000 | ||||
Invest Ontario Fund - Operating | 13,910,000 | ||||
Investment Attraction Organizations | 3,000,000 | ||||
Jobs and Prosperity Fund and Other Business Support Programs | 75,238,000 | ||||
Life Sciences Strategy | 16,300,000 | ||||
Ontario Made Manufacturing Investment Tax Credit | 275,000,000 | ||||
Ontario-Québec Francophonie Trade Award | 20,000 | ||||
Ontario Vehicle Innovation Network | 13,850,000 | ||||
Regional Opportunities Investment Tax Credit | 65,702,400 | ||||
Small Business Digitization Competence Centre | 3,600,000 | ||||
Sector Support Grants | 16,161,100 | ||||
Strategic Investments | 798,821,100 | ||||
Trillium Network for Advanced Manufacturing | 500,000 | 2,223,287,600 | 2,339,219,700 | ||
| Strategy and Policy | |||||
Salaries and wages | 4,986,800 | ||||
Employee benefits | 571,700 | ||||
Transportation and communication | 99,500 | ||||
Services | 608,400 | ||||
Supplies and equipment | 53,000 | ||||
Subtotal | 6,319,400 | ||||
Less: Recoveries | 202,900 | 6,116,500 | |||
| Start-ups and Scale-ups | |||||
Salaries and wages | 6,800,000 | ||||
Employee benefits | 885,000 | ||||
Transportation and communication | 415,600 | ||||
Services | 2,502,700 | ||||
Supplies and equipment | 229,000 | ||||
Transfer payments | |||||
Small Business Enterprise Centres Entrepreneurship Programs | 14,276,000 | 25,108,300 | |||
| International Trade | |||||
Salaries and wages | 15,116,800 | ||||
Employee benefits | 1,576,600 | ||||
Transportation and communication | 1,600,000 | ||||
Services | 11,584,700 | ||||
Supplies and equipment | 378,900 | 30,257,000 | |||
| Innovation | |||||
Transfer payments | |||||
Commercialization and Innovation Network Support | 19,304,200 | ||||
Communitech Hub | 3,900,000 | ||||
Intellectual Property Ontario | 13,933,600 | ||||
Ontario Business-Research Institute Tax Credit | 24,505,300 | ||||
Ontario Centre of Innovation | 13,900,000 | ||||
Ontario Innovation Tax Credit | 185,661,200 | 261,204,300 | 261,204,300 | ||
| Total Operating Expense to be Voted | 2,661,905,800 | ||||
| Statutory Appropriations | |||||
Other transactions | |||||
| Statutory | Bad Debt Expense, the Financial Administration Act | 426,000 | |||
| Total Operating Expense for Economic Development, Job Creation and Trade Program | 2,662,331,800 | ||||
Operating assets | |||||
| 902-14 | Economic Development, Job Creation and Trade | ||||
Deposits and prepaid expenses | 1,000 | ||||
Loans and Investments | |||||
Invest Ontario | 100,000,000 | ||||
Jobs and Prosperity Fund and Other Business Support Programs | 41,964,400 | 141,964,400 | |||
| Total Operating Assets to be Voted | 141,965,400 | ||||
| Total Operating Assets for Economic Development, Job Creation and Trade Program | 141,965,400 | ||||
Capital expense | |||||
| 902-21 | Economic Development, Job Creation and Trade | ||||
Other transactions | 3,000 | ||||
| Total Capital Expense to be Voted | 3,000 | ||||
| Statutory Appropriations | |||||
Other transactions | |||||
| Statutory | Amortization, the Financial Administration Act | 1,000 | |||
| Total Capital Expense for Economic Development, Job Creation and Trade Program | 4,000 | ||||
Capital assets | |||||
| 902-22 | Economic Development, Job Creation and Trade | ||||
Investments in Tangible Capital Asset | 1,000 | ||||
Land and marine fleet - asset costs | 1,000 | ||||
| Total Capital Assets to be Voted | 2,000 | ||||
| Total Capital Assets for Economic Development, Job Creation and Trade Program | 2,000 | ||||
Footnotes
- footnote[1] Back to paragraph Total Operating Expense includes Statutory Appropriations, Special Warrants and total operating expense to be voted.