Published plans and annual reports 2025–2026: Ministry of Economic Development, Job Creation and Trade

Ministry overview

Ministry's Vision

The Ontario government is taking action to protect workers, businesses, and jobs in the face of U.S. tariffs and continued economic uncertainty, with a plan to build an economy that is more resilient and self-reliant. We are laying the groundwork to make Ontario the most competitive place to invest, create jobs, and do business in the G7.

The Ministry of Economic Development, Job Creation and Trade (MEDJCT) is helping to achieve this goal by attracting investments and jobs to build Ontario's economy for today and tomorrow. The ministry seeks to drive economic growth in Ontario across four key priority areas.

Protecting the economy of Ontario

The ministry is taking decisive action to protect Ontario workers, businesses, and communities in the face of U.S. tariffs and ongoing global economic uncertainty.

This includes targeted support through new programs like the Ontario Together Trade Fund and the Trade-Impacted Communities Program, which will help businesses diversify markets and strengthen domestic supply chains. To continue attracting major job-creating investments into local communities across the province, the government allocated an additional $600 million in the 2025 Budget to the Invest Ontario Fund. This enhanced support will provide Invest Ontario with greater stability in executing on its mandate of job creation and investment attraction, increase the agency’s responsiveness to current economic challenges, provide greater certainty to investors and ensure Ontario stays competitive on the world stage. Through Invest Ontario, the province is also expanding industrial capacity in sectors like modular housing, creating good jobs and advancing innovative solutions to meet Ontario’s housing needs.

Investing in innovation remains a critical part of Ontario’s economic strategy. As U.S. tariffs continue to pressure industries and manufacturers, innovation offers a long-term tool to strengthen economic resilience. New technologies and high-growth investments are helping Ontario companies enter new markets, improve competitiveness, and drive prosperity for future generations, small businesses, and entrepreneurs.

Growing Ontario's electric vehicle supply chain

The ministry continues to make Ontario the ideal destination for electric vehicle (EV) assembly and the EV battery supply chain, thanks to our world-class automotive supply base with a growing EV assembly and battery supply chain footprint, reliable clean energy, critical mineral resources, and a world-class workforce and research and development ecosystem. Investing in electric vehicle manufacturing in Ontario is building upon the strategy to enable automotive companies to adapt to the changing global market.

Despite U.S. tariffs and continued economic uncertainty, the government will continue to stand firmly behind and maintain its financial contributions to the electric vehicle and battery auto pact that helped attract over $46 billion in transformative investments from global automakers, parts suppliers, and manufacturers of EV batteries and battery materials.

Attracting investments to Ontario

The ministry has a suite of land development programs to showcase Ontario’s inventory of available industrial investment ready sites within its existing footprint. A mega-site brings new opportunities for long-term investment that can create thousands of good-paying direct and indirect jobs throughout the industrial supply chain that will benefit communities across the whole province. The ministry also aims to target large anchor investments, including those in the transitioning auto sector, as well as shorter-term construction jobs. These investments also support the broader regional supply chain and drive the sector’s research and development.

As U.S. tariffs continue to create investment uncertainty for businesses, the government is providing greater economic stability and resilience by supporting major investments in the province through the province's investment attraction agency. Invest Ontario promotes Ontario as a top-tier destination for domestic and global investment, by providing investors with key information about Ontario's business supports and program services and help businesses to locate or expand in the province, with a focus in key sectors such as advanced manufacturing, life sciences and technology.

Supporting Ontario businesses and entrepreneurship

The ministry offers a range of programs and supports to assist entrepreneurs in starting and growing new companies, from local businesses to technology-based startups and scale ups aspiring to become global leaders. Entrepreneurs and small businesses are the backbone of our economy and play a vital role contributing new ideas and resources to the economy, creating jobs, and fostering vibrant communities right across our province. In light of U.S. tariffs, the government is providing businesses with strategic supports to help them adapt and remain competitive.

Ministry programs

The ministry's plan and programs include a specific focus on advancing the government's objectives in the following key priority areas:

Protecting the economy of Ontario

The ministry is taking targeted action to protect Ontario workers, businesses, and communities from the impacts of U.S. tariffs and global economic uncertainty. This includes delivering investment and job creation programs, supporting exporters through expanded trade missions and International Trade and Investment Offices, and reducing internal trade barriers to build a more resilient, self-reliant economy.

Ontario Together Trade Fund

Through the new Ontario Together Trade Fund (OTTF), we are providing $50 million over three years starting in 2025-26 in critical support to businesses most impacted by unfair U.S. tariffs, strengthening trade diversification and trade security. This new program will help businesses develop new markets and re-shore critical supply chains, strengthening Ontario’s trade security and diversification. In particular, the OTTF will focus on expanding interprovincial trade by supporting investments in infrastructure, equipment and processes to enhance competitiveness in the face of U.S. tariffs.

Trade-Impacted Communities Program

U.S. tariffs have created economic challenges across Ontario, and individual communities and local industries are facing major disruptions. The government is taking action to respond to the unique and unprecedented needs of Ontario communities by creating the new Trade-Impacted Communities Program (TICP).

The TICP will help communities and local industries in Ontario navigate significant economic challenges caused by U.S. trade disruptions and plan for the future. This new program will provide up to $40 million in grants, starting in 2025-26, which are flexible and tailored to the needs of individual communities and local industries. This funding will support projects that help communities respond to trade disruptions and pivot to procurement from domestic and local suppliers where possible. The program will also support large-scale strategic initiatives that enable and transform key sectors and industrial clusters to help businesses grow, find new markets and investments, and diversify their supply chains. Municipal governments, economic development organizations, business accelerators, and incubators, as well as sector or industry associations will be eligible for the program.

Supporting modular and innovative housing through Invest Ontario

As part of its work to address Ontario’s housing needs, the province is committed to growing the province’s industrial capacity in innovative housing construction, including modular and innovative home manufacturing, to advance new homebuilding methods and boost productivity. This commitment is an important part of the government’s efforts to meet Ontario’s goal to increase housing supply and improve housing affordability.

Though a $50 million top-up to the Invest Ontario Fund, Invest Ontario will help grow the province’s industrial capacity in modular construction and other innovative options to accelerate development, improve affordability and nurture home-grown industries that support quality jobs in Ontario.

Invest Ontario will attract and support companies in the sector by investing in the expansion and upgrade of existing production-line machinery and adoption of new technologies that increase productivity and output. High-impact projects will be targeted to speed up growth in the sector and help make homeownership a reality for more Ontario families.

Growing Ontario's electric vehicle supply chain

Despite U.S. tariffs and continued economic uncertainty, the government will continue to stand firmly behind and maintain its financial contributions to the transformative electric vehicle and battery investments that helped attract over $46 billion in other investments from global automakers, parts suppliers, and manufacturers of electric vehicle batteries and battery materials.

To support the sector through recent challenges and further enhance its competitiveness, the government is extending its investment in the Ontario Automotive Modernization Program and the Ontario Vehicle Innovation Network, through a total investment of $85 million.

Through our Driving Prosperity plan, the ministry is supporting a revival of Ontario's auto sector. In the past five years, Ontario has attracted over $46 billion in new investments in vehicle manufacturing and the EV battery supply chain that will create and retain over 50,000 direct jobs and create thousands more indirectly. These critical investments are transforming Ontario's sector by leveraging our strength in manufacturing, our leading technology hubs and the rich critical mineral assets in the North.

The province's recent auto investments and the new vehicle mandates for Ontario assembly plants will bring major economic benefits for the communities where they are located and to Ontario's economy. This includes projects such as:

• A $7 billion investment by Volkswagen Group and its subsidiary PowerCo SE to establish Volkswagen's first overseas electric vehicle battery cell manufacturing plant in St. Thomas. This project will put Ontario on an accelerated path to becoming a North American EV powerhouse. The investment will support jobs throughout the construction period and over the long term after the plant reaches production capacity, including up to 3,000 highly skilled jobs directly at the plant, as well as thousands of jobs across the supply chain and the broader economy.
• A $5 billion investment by NextStar Energy Inc. (Stellantis and LGES JV) to build an EV battery manufacturing plant in Windsor. The project is Ontario's first battery cell plant investment. The facility started mass production of battery modules in September 2024 and is on track to produce and assemble battery cells by the end of 2025. The investment will create 2,500 good-paying, high-quality jobs in Windsor and secure Ontario's place as a North American hub for building the cars and batteries of the future.

Ontario also supports the broader supply chain by investing in Ontario's auto workers and equipping them with the skills they need to secure rewarding, high-paying jobs, including battery and steel production, auto assembly, and research and innovation.

The Ontario Automotive Modernization Program was launched in September 2019 as a key action item of the Driving Prosperity automotive plan. The program renewed in the 2025 Budget for an additional three years with $12 million in funding to supporting SMEs in the automotive sector in technology processes/adoption, improve productivity, increase competitiveness and/or move to lean manufacturing with a goal to create 360 jobs and leverage over $30 million in private sector investment.  

To support the sector through these challenging times and further enhance its competitiveness, Ontario is also providing additional funding to continue the Ontario Vehicle Innovation Network (OVIN) program delivered by the Ontario Centre of Innovation through an investment of $73 million over the next four years, starting in 2025-26. The funding will support regional technology development sites, research and development partnerships, and incubator projects for automotive and mobility small and medium-sized enterprises with the expectation of creating and retaining over 900 jobs each year.

Ontario is also continuing its partnership with OCI/OVIN and the Automotive Parts Manufacturers' Association (APMA) to expand Project Arrow. The APMA launched the first, original, full-build, zero-emission concept vehicle named Project Arrow in 2023. Project Arrow 2.0 launched, with provincial funding of $4 million over two years, to build 6 to12 concept electric vehicles to foster advancements in electronic vehicle technology and policy development. The project will incorporate innovative sub-assembly methods and advanced manufacturing technologies and the APMA will work with municipalities and academic institutions to provide a testbed for research and a cooperative network to tackle ecosystem challenges.

Attracting investments to Ontario

The ministry working with its investment attraction agency Invest Ontario, delivers programs that promote Ontario as a premier destination for investment attraction and expansion, and provides specialized services to companies looking to come to Ontario. This includes business and market intelligence, lead generation, trade and investment analysis, site certification, and helping businesses navigate government to tailor a full complement of supports and services to a company's specific needs. By working directly with international and domestic businesses, as well as with community and regional partners, the ministry continues to generate, advance and secure investment opportunities across the province.

To continue securing major investments, the government is allocating an additional $600 million to the Invest Ontario Fund to provide the agency greater stability in executing its mandate of job creation and investment attraction by targeting 3,700 jobs created and approximately $3.9 billion in investments secured annually. The additional funding will help increase the agency's responsiveness to current economic challenges by providing greater certainty to investors and helping to ensure Ontario stays competitive on the global stage.

The ministry and Invest Ontario continue to work closely with other levels of government and the private sector to attract new investment to Ontario.

Investment attraction organizations

The ministry supports the investment attraction efforts of Toronto Global, Waterloo Region Economic Development Corporation and Invest Ottawa through transfer payment agreements. With a total of $10.3 million over the next three years, these three organizations will harness the unique features of their regions to attract foreign-direct investment and business retention and expansion projects, collectively closing 121 deals valued at over $1.3 billion that create up to 4,700 new jobs. These organizations work in collaboration with Invest Ontario to enhance the agency’s central efforts, and leverage funding from the Federal government and municipal partners for their investment attraction and other regional development initiatives.

Advanced manufacturing plan

The ministry is boosting the long-term competitiveness and resiliency of Ontario's advanced manufacturing sector through its Advanced Manufacturing Plan. Ontario’s 2024 Fall Economic Statement released the province’s plan, outlining a 10-year roadmap for growing the sector's workforce and production capacity by securing next-generation production facilities, strengthening and securing domestic supply chains, leveraging growth-driving technology and building a workforce for the future.

The objectives of the plan are to help grow the sector's output to over $120 billion and expand Ontario's manufacturing workforce to one million people by 2035.

Life Sciences Strategy

The province’s life sciences strategy, Taking Life Sciences to the Next Level, aims to establish Ontario as a global biomanufacturing and life sciences hub that leads in innovation, commercialization and the early adoption of innovative health products and services. The Strategy is anchored by a goal to grow the number of high-value jobs in Ontario’s life sciences sector by 25% to 85,000 by 2030.

Phase 1 of Taking Life Sciences to the Next Level was launched in 2022.

Phase 2 was released in October 2024 and builds on the success of Phase 1. With an investment of $146 million, it is an all-of-government action plan that advances the vision of establishing Ontario as a global biomanufacturing and life sciences hub, with four comprehensive goals:

• Advancing research and development to enhance the province’s biomanufacturing capacity and capitalize on opportunities for commercialization.
• Unlocking new streams of capital that help entrepreneurs turn their ideas and prototypes into market-ready products.
• Supporting the existing ecosystem by enhancing the province’s value proposition and positioning Ontario as a premier destination for global business growth and new investments.
• Adopting a culture of innovation so home-grown companies can leverage opportunities throughout the province’s health care system.

The Ministry will help fuel the sector’s growth, with the following investments:

• $15 million for a new Ontario Wet Labs program to address the critical infrastructure challenges by increasing the amount of specialized laboratory space for growing companies to support and accelerate the commercialization of Ontario-made innovations.
• $24 million for a new Life Sciences Scale-Up Fund to help Ontario companies expand production capacity and prepare them for new procurement opportunities in Ontario and beyond.
• An additional $40 million from the Venture Ontario Fund to invest in venture capital funds that will help Ontario-based life sciences companies and biomanufacturers innovate and grow. In 2025 Budget, the government invested a further $40 million in new funding to the Venture Ontario fund, increasing the total investment in Life Sciences to $80 million.
• As part of the 2025 Budget, the government will also be renewing the Life Sciences Innovation Fund for $15 million over three years to support early-stage life sciences entrepreneurs to advance innovative and capital-intensive projects from concept to commercialization, providing up to $500,000 in funding per project.

Venture Ontario

Venture Ontario, the province's venture capital (VC) agency, plays an important role in stimulating entrepreneurship and economic growth by unlocking opportunities for young firms through investments into high potential, innovative companies. VC funds also offer business mentorship and access to networks that can help accelerate a company’s ability to enter new markets and succeed on a global scale. Venture Ontario currently manages over $500 million in assets, which include investments of $300 million provided by the Ontario government in the past two years.

To continue supporting the growth of early-stage Ontario companies, the government is providing an additional $90 million in VC funding through Venture Ontario, which includes $50 million to Ontario-based VC funds focused on technologies that support national defence and related technologies such as AI and cybersecurity, and $40 million to VC funds that will help life sciences companies and biomanufacturers innovate and grow. This will help drive the development of technologies in strategic defence sectors and strengthen Ontario’s next generation biomanufacturers and medical device companies to develop the health technologies of the future. The investment will also act as a safeguard in the face of U.S.-imposed tariffs by strengthening firm-level competitiveness by bolstering domestic supply chains and increasing resiliency in critical sectors of the economy.

Industrial land development

Ontario must remain competitive with U.S. jurisdictions, both in the overall availability of ready-use industrial lands and for sites that can support large manufacturing investments. Companies evaluate a range of costs and factors in determining the most suitable locations for their investments. Preparing industrial land sites brings new opportunities for long-term investments that will create thousands of good-paying direct and indirect jobs throughout the industrial supply chain, which will benefit communities across the entire province.

The government’s suite of Industrial Land Development programs helps secure new investment opportunities. Ontario is working to improve coordination between land use planning, economic development, and infrastructure investments to advance Ontario’s investment readiness and support investment and job creation over the long term. These programs provide municipalities and industrial landowners with financial support to advance due diligence activities to increase development readiness of industrial sites for investment attraction.

To support large manufacturing investments, the government is also working with municipalities and other partners to identify, evaluate and establish potential sites. Through Invest Ontario’s site selection services and the ministry’s industrial land development programs and strategic initiatives, the province works closely with municipalities across Ontario to understand the industrial land inventory and identify more industrial land for domestic and international investment attraction.

These efforts will help create serviceable industrial sites and boost Ontario's competitiveness in attracting high-value advanced manufacturing projects in order to create high paying jobs for communities across the province. Ontario's success in attracting the major new investment by PowerCo Canada, a subsidiary of Volkswagen, to establish an EV battery cell manufacturing plant in the City of St. Thomas, highlights the importance of identifying and establishing shovel ready sites for investment.

International representation

By developing and implementing global marketing strategies that highlight the province's key economic strengths, the ministry is promoting Ontario on the world stage as the best place to invest, work and live. As part of this work, the ministry leads and manages Ontario's network of international offices, drives job creation by facilitating business partnerships with global markets, promotes and advances Ontario's economic interests through Minister-led international missions, and continues to secure new trade and investment deals. Over the next three years, the ministry is planning to deliver over 180 export missions to more than 20 countries, with a goal to help companies become export ready and compete globally.

Ontario's international network includes 14 Trade and Investment Offices (TIOs) around the world that work to raise the commercial profile of Ontario and promote the province as the premier destination to invest and grow internationally. Ontario's TIOs are led by Agents-General and Senior Economic Officers who work together to deliver Ontario's international economic goals.

In addition to its TIOs, Ontario also operates an office in Washington, D.C. that builds government-to-government and stakeholder relationships, advocates for Ontario's economic interests in the U.S., and leverages opportunities through new and existing trade agreements. Ontario's representative in Washington, D.C. is the province's lead liaison, playing a vital role in promoting investment in key Ontario sectors, further expanding Ontario's trade with the United States, strengthening government-to-government and business-to-business relations, and providing strategic advice to the Government of Ontario.

International and interprovincial trade policy

The ministry ensures that Ontario's interests are well represented in all trade matters, including by:

• leading Ontario's engagement on international trade negotiations and initiatives, including defending the province’s interests in the context of a changing Canada-U.S. trade relationship and potentially upcoming trade negotiations with the U.S.
• strengthening domestic market opportunities through the promotion of internal trade, including by advancing implementation of the Protect Ontario through Free Trade within Canada Act, interprovincial trade negotiations and other initiatives
• leading implementation and compliance activities for trade and investment agreements involving the province
• leading trade dispute management, including representing and supporting the province's interests in any trade disputes involving Ontario
• monitoring and responding to domestic and international trade policy issues that impact the province

The ministry continues to advance Ontario's trade diversification goals by implementing programs designed to increase exports and diversify markets by leveraging Canada's strategic international trade and investment agreements.

The ministry advances Ontario's economic and policy interests in matters concerning interprovincial trade and leads Ontario's commitment to break down interprovincial trade barriers through various ongoing trade enhancing initiatives. This includes working with other Canadian jurisdictions to reduce administrative burden for businesses and foster economic growth, regulatory harmonization, and trade.

In April 2025, Ontario introduced the Protect Ontario through Free Trade within Canada Act – landmark legislation that will unlock new opportunities for Ontario businesses and workers, attract investment, and support the free movement of goods, services, and workers across the country. One of the Act’s significant achievements is the enabling of mutual recognition of goods, services, and workers with reciprocating Canadian jurisdictions. Once implemented, mutual recognition will ensure that a good or equivalent service or worker that is deemed acceptable for sale, use or work in other Canadian jurisdictions is deemed acceptable for sale, use or work in Ontario. MEDJCT is aiming to advance implementing regulations associated with the Act by the end of 2025.

Supporting Ontario businesses and entrepreneurship

The ministry works directly with Ontario businesses to understand their unique opportunities and challenges. In addition, the ministry helps support economic growth and job creation by helping companies to export goods and services and diversify their sales globally. Ontario offers a range of programs and supports to assist entrepreneurs in starting and growing new companies, from local businesses to technology-based start-ups and scale-ups aspiring to become global leaders.

Regional Development Program

The Regional Development Program takes a coordinated approach to supporting business growth through the Eastern Ontario Development Fund (EODF), Southwestern Ontario Development Fund (SWODF) and Advanced Manufacturing and Innovation Competitiveness (AMIC) Stream. The Regional Development Program focuses on helping eligible small- and medium-sized businesses invest in new equipment and training to expand operations. It also provides support to municipalities and economic development organizations investing in economic development projects.

Over the next three years, through the suite of programs under the Regional Development Program, which includes EODF, SWODF and AMIC, Ontario is investing over $130 million over the next three years to support more than 150 projects through the program, leveraging more than $2 billion in new investments and helping to create more than 4,500 jobs in the province.

Critical Technologies Initiative

Ontario committed $107 million over three years to invest in critical technology initiatives to stimulate the supply, adoption, and commercialization of technologies that are fueling the future of Ontario’s economy. The goal is to propel economic growth in Ontario and to compete in a global race to develop and commercialize critical technologies.

The Critical Technologies Initiative (CTI) is funding the Ontario Centre of Innovation, the Vector Institute, Ontario Bioscience Innovation Organization, Quantum Valley Ideas Lab and the Canadian Cyber Threat Exchange to help Ontario companies adopt, develop, and bring to market critical technologies, including 5G, ethical artificial intelligence, quantum, blockchain, cybersecurity, and robotics. Over the course of its three-year duration, the CTI is forecasting to create over 1,500 jobs in Ontario.

Critical technologies have the potential to increase productivity, open new revenue opportunities, create highly- skilled jobs, and enhance the global competitiveness of Ontario’s companies.

Futurpreneur Canada

Futurpreneur Canada is a non-profit organization that provides financing, mentoring and support tools to aspiring business owners aged 18-39. The government continues to support Futurpreneur in helping address some of the unique economic barriers facing youth, women, and racialized and Indigenous entrepreneurs to transform their entrepreneurial passions into thriving businesses. As a part of the 2025 Budget, Ontario is providing $2 million in 2025-26 to Futurpreneur Canada to help young entrepreneurs achieve their business goals with a target of supporting up to 320 businesses.

Digitalization Competence Centre

In partnership with the Ontario Centre of Innovation, the virtual Digitalization Competence Centre (DCC) helps Ontario-based SMEs adopt digital technologies and has supported small businesses in developing and implementing digital strategies, including training and guidance on new equipment and processes.

As announced in the 2025 Budget, the government is investing $7.5 million in 2025-26 to continue support for the DCC. This funding will support programs that enhance digital literacy through coaching and training, accelerate digital adoption, and provide grants to help SMEs adopt new technologies and improve their competitiveness with a goal of supporting a minimum of 351 SMEs.

Regional Innovation Centres

The ministry supports entrepreneurship and business growth for technology start-ups and scale-ups through its 17 Regional Innovation Centres (RICs) located across the province. The ministry will be providing $71.6 million over the next three years to these centres with the aim to support over 6,700 RIC clients by providing them with access to training and workshops, market intelligence and mentorship to develop business ideas and products, determine their market and access financing programs.

The ministry is implementing a new accountability framework for the RIC network that will expand use of outcome performance measures, to track impact, strengthen regional collaboration and partnerships, and increase focus on Ontario's priority sectors. Further analysis is being undertaken to modernize the network and ensure that it continues to support growth and ensure that Ontario remains a leader in the creation and expansion of innovative businesses.

Ontario Centre of Innovation

The ministry provides support and oversight to the Ontario Centre of Innovation (OCI), which delivers a range of innovation programs on behalf of the province OCI works to encourage innovation and commercialization through a range of initiatives, with the goals of:

• helping Ontario businesses and entrepreneurs to commercialize intellectual property and new technologies
• supporting collaborative applied research and development between industry and academic institutions
• assisting small and medium-sized enterprises in adopting emerging technologies

OCI delivers several commercialization programs that support innovation efforts and provide funding to high-potential and early-stage companies to catalyze investment. With $13.9 million in annual core funding, OCI delivers both the Ready for Market and Collaborate to Commercialize programs. MEDJCT also funds OCI to deliver additional programs such as the Ontario Vehicle Innovation Network, Critical Technologies Initiative, the Life Sciences Innovation Fund and the Digitalization Competence Centre.

Small Business Enterprise Centres

The ministry supports 47 Small Business Enterprise Centres (SBECs) across Ontario that operate locally, in collaboration with municipalities and regional partners, to provide advisory services, workshops, microgrants and mentorship to help entrepreneurs and small businesses with $37.9 million over three years in funding and a goal of supporting over 25,000 clients.

As announced in the 2025 Budget, Ontario is investing $1.9 million over three years, starting in 2025-26, to establish a business succession planning services hub within the SBEC network, which will provide support to entrepreneurs looking to sell their businesses or buy new ones. The Hub will build expertise and provide training across the SBEC network to help businesses plan for succession and prepare the next generation of entrepreneurs to take over.

The ministry recently completed a review of the SBEC network and is currently building on the review findings to incorporate efficiencies and strengths into SBEC programming.

Supporting Ontario's Small and Medium Enterprises

The ministry's business advisors work across southern Ontario with established small and medium enterprises (SMEs) to understand business needs and regional growth opportunities. The ministry delivers comprehensive services tailored to business retention, expansion, and investment aftercare strategies to help individual businesses become more productive and competitive and to help address challenges and opportunities with a goal of over 8,000 annual direct advisory engagements.

Through this work with businesses, the ministry harnesses local and regional business intelligence that can inform policy and program design decisions that impact SME growth.

The Canadian Manufacturers and Exporters / Ontario Made Program

The ministry provides support for the Canadian Manufacturers and Exporters' (CME) Ontario Made program, which helps promote Ontario's manufacturing sector.

The consumer awareness program encourages manufacturers and producers to register and promote their products on the SupportOntarioMade.ca site and use the Ontario Made logo to identify locally made items. It also helps connect suppliers to each other, strengthening Ontario’s supply chains.

As of January 2025, more than 4,990 manufacturers have registered over 18,450 products with the CME to obtain the Ontario Made designation. Over the next three years, the ministry will provide $3.5 million and aims to increase the number of registered Ontario Made manufacturers, registered Ontario Made products, registered Ontario Made retailer locations and B2B connections by at least 15% by the end of 2026-27.

Export support programs

The ministry delivers a suite of export programs and services to Ontario companies, designed to increase Ontario's exports and the number of Ontario exporters.

These include one-on-one export advice, exporter preparation programs, market and sector opportunity webinars and seminars, sharing market intelligence, facilitating business-to-business connections, and the delivery of export business missions. Export business missions bring Ontario SMEs to international markets to showcase their products, technologies and services at key industry events. Sector-specific programming is offered across key sectors such as life sciences, advanced manufacturing, ICT, and cleantech, with real-time support to help businesses navigate market access and identify prospective buyers, value-chain partners and investors.

The ministry is enhancing its export programming to raise awareness about market opportunities globally. These initiatives provide trade diversification opportunities in priority and emerging high-potential markets in Europe, the Indo-Pacific region, the Middle East & Africa, South America, and Mexico with the goal of supporting up to 1,850 clients over the next three years through participation in export business missions.

2025-26 strategic plan

The ministry's strategic plan requires flexibility and adaptability in order to respond to everchanging business conditions in Ontario and internationally. Ontario continues to face increasing competition from North American jurisdictions for investments. The ministry is dedicated to advocating for strategic investments that will unleash our economy in key sectors such as advanced manufacturing, automotive, battery and electric vehicle manufacturing, life sciences and technology.

The ministry will focus on empowering businesses and positioning Ontario as a premier destination for investment. The ministry has developed programs and supports that promote and advance the interests of small businesses, innovators and entrepreneurs that are the backbone of Ontario's economy. From start-up to scale up, the ministry is focused on strengthening the business ecosystem to help companies anchor their growth in Ontario and become global leaders.

The investments Ontario is making and attracting across sectors will enable the development, commercialization, and adoption of critical technologies, which translate into economic gains in productivity, IP generation, venture capital investment, talent attraction, and job creation.

The ministry's suite of programs aims to increase job creation, leverage investments, and support small businesses and entrepreneurs bringing economic benefits to the province.

KPI outcome statement:

• Increase in job creation

Indicator:

• Increase in the number of jobs created through ministry investments.
• Meeting at least 90% of the jobs created target through ministry investments

Target value and date:

• 10,000 by 2029-30
• 90% by 2029-30

Programs that contribute to the KPI result:

• Automotive Plan - (including Ontario Automotive Modernization Program)
• Critical Technologies Initiative
• Industrial Land Development
• Invest Ontario Fund
• Life Sciences Strategy
• Ontario Vehicle Innovation Network
• Regional Development Program
• Strategic Investments

KPI outcome statement:

• Attracting investments to Ontario

Indicator:

• Annual dollar value of investment leveraged

Target value and date:

• $4 billion by 2029-30

Programs that contribute to the KPI result:

• Automotive Plan (including Ontario Automotive Modernization Program)
• Industrial Land Development
• Invest Ontario Fund
• Life Sciences Strategy
• Ontario Vehicle Innovation Network
• Regional Development Program
• Strategic Investments
• Venture Ontario

KPI outcome statement:

• Supporting Ontario businesses and entrepreneurship

Indicator:

• Increase in the percentage of businesses and entrepreneurs supported

Target value and date:

• 3% increase by 2029-30

Programs that contribute to the KPI result:

• Automotive Plan (including Ontario Automotive Modernization Program)
• Business Advisory Services
• Commercialization and Innovation Network Support (incl. Regional Innovation Centres)
• Communitech Hub
• Digitalization Competence Centre
• Export Business Missions
• Futurpreneur
• Invest Ontario Fund
• Investment Attraction Organizations
• Life Sciences Strategy
• Ontario Centre of Innovation
• Ontario Made Program
• Ontario Vehicle Innovation Network
• Regional Development Program
• Small Business Enterprise Centres
• Trade and Investment Network

Disclaimer: As the ministry refines its performance measurement and reporting processes, the above targets are subject to change and the data is reliant on information provided by ministry partners. These targets are also subject to the availability of inputs available to create jobs, attract investments and support clients. Changes in key inputs such as availability of financial and human resources would result in revised targets. The ministry is reporting on programs where the outcomes are most relevant to the applicable indicator.

Table 1: Ministry planned expenditures 2025-26 ($M)

* Excludes the following Consolidation Adjustments: Consolidation Adjustment - Venture Ontario

Ministry organization chart

As of May 30, 2025

• Deputy Minister — Jean-Paul Cadeau
  • Executive Assistant — B. Boeswald
  • Director, Legal Services — D. Glassman (MAG)
  • Chief Information Officer — M. Agarwal (TBS)
  • Director, Communications — K. Fasciano
  • Venture Ontario CEO — S. Romanyshyn
  • Invest Ontario CEO — K. Nasim
• CAO/ADM, Corporate and Policy Services — David Barnes
  • Director, Business Planning and Controllership — T. Anderson
  • Director, Strategic HR Branch — A. Azzopardi
  • Director, Economic Research & Analytics— S. Mukherjee
  • Director, Service Management & Facilities — N. Janicas
  • Director, Policy, Planning and Strategy — T. Mah
• ADM, Strategic Industries — David Barnes
  • Director, Sector Strategy — M. Gordon
  • Director, Agency Liaison & Investment Services— E. Shin
  • Director, Strategic Projects Office — T. Bedford
  • Director, Advanced Manufacturing — C. Jones-Bulla
• ADM, Small Business and Business Partnerships — C. Chan
  • Director, Funding Administration — L. Davison
  • Director, Small Business — J. Maguire
  • Director, Business Advisory Services —L. Groulx
  • Director, Strategic Program & Partnership—L. Coleman
• ADM, Trade and International Engagement — S. Skinner
  • Director, Marketing and Stakeholder Eng’t— M. Hall
  • Director, Trade Strategy — Vacant
  • Director, Trade Programs — V. Paroshyn
  • Director, International Representation — R. Prasad
  • Director, Internal Trade Policy — C. Pulsinelli
  • Executive Lead, Trade Engagement — H. Cameron
• ADM, Innovation and Economic Partnerships — R. Simeon
  • Director, Scale Up Services — G. Cadete
  • Director, Advanced Technologies — A. Guy
  • Director, Innovation Strategies& Programs— L. Doering
  • Director, Regional Economic Development — A. Wouters

Agencies, boards and commissions

Venture Ontario

Venture Ontario, previously the Ontario Capital Growth Corporation, was established to receive, hold, administer, and deal with the interest of the Government of Ontario in the limited partnership known as the Ontario Venture Capital Fund LP. In accordance with the legislation that established Venture Ontario, the agency:

• makes investments in venture capital funds,
• provides advice to the province on venture capital matters
• supports the development of Ontario's venture capital ecosystem and the implementation of the province's venture capital policies

Venture Ontario's investments continue to perform well on all measures – including returns on investment, leveraging additional funds and generating jobs and research and development.

Invest Ontario

Invest Ontario was established in July 2020 as an investment agency designed to position the province as a key destination for investment. The agency targets strategic investors and is mandated to attract large scale investment deals in three key sectors: advanced manufacturing, life sciences and technology.

Invest Ontario:

• focuses on lead generation, structuring, and nurturing within selected sectors and clusters where Ontario sees globally competitive advantages
• operates with the flexibility to deploy highly skilled business teams operating at the pace of business
• customizes investment opportunity structuring, supported by sophisticated business development tools

Invest Ontario will leverage the many benefits that the province offers to attract jobs and investments to Ontario, including a high quality of life, a highly skilled talent pool, a strong and growing innovation sector and business supports that can help businesses thrive.

Detailed financial information

Table A1: Combined operating and capital summary by vote

* Estimates, Interim Actuals and Actuals for prior fiscal years are re-stated to reflect any changes in ministry organization and/or program structure. Interim actuals reflect the numbers presented in the 2025 Ontario Budget.

* Estimates and Actuals for prior fiscal years are re-stated to reflect any changes in ministry organization and/or program structure.

For additional financial information, see:

http://www.fin.gov.on.ca/english/budget/estimates/

http://www.fin.gov.on.ca/english/budget/paccts/

https://budget.ontario.ca/2025/index.html

Or:

Please contact:

Business Planning and Controllership Branch
Ministry of Economic Development, Job Creation and Trade
Phone: 647-289-4932

Legislation

Statutes administered by the minister of Economic Development, Job Creation and Trade.

Community Small Business Investment Funds Act, 1992, S.O. 1992, c. 18 in respect of Part III.2 and in the application of the provisions of Part I, Part IV and the regulations to or in respect of an investment corporation registered or previously registered under Part III.2

Ministry of Economic Development and Trade Act, R.S.O. 1990, c. M.27

Venture Ontario Act, 2008, c. 19, Schedule O

Development Corporations Act, R.S.O. 1990, c. D. 10

Attracting Investment and Creating Jobs Act, 2012, S.O. 2012, c. 10

Supporting Local Restaurants Act, 2020, S.O. 2020, c. 31, except in respect of Part III, IV and V

Innovation Centre Governance Act, 2020, S.O. 2020, c. 36

Invest Ontario Act, 2021, S.O. 2021

Convenience Store Week Act, 2021, S. O. 2021, c. 17

Appendix

Annual report

2024-25 Achievements

In 2024-25, the ministry continued to focus on its mandated commitments in working towards building Ontario's economy for today and tomorrow through attracting and protecting investments and jobs. The ministry is working closely with industry stakeholders and trade partners to respond to the U.S tariffs imposed on Canada. The ministry seeks to drive economic growth in Ontario across key priority areas, including growing Ontario's Electric Vehicle supply chain; creating and retaining manufacturing jobs; attracting investments to Ontario; supporting Ontario businesses and entrepreneurship; and building the future economy of Ontario.

Protecting the Economy of Ontario 2024-25 Achievements

In response to a multitude of new and evolving tariff threats from the current U.S. administration, MEDJCT led the development of Ontario’s U.S. Tariff Response Strategy. This advanced a whole-of-government response to U.S. tariffs, which has positioned Ontario to respond through:

• advocacy to the federal government on effective countermeasures (e.g. retaliatory tariffs on U.S. imports)
• provincial policy actions to amplify pressure on the U.S. by restricting Ontario-U.S. trade in strategically significant areas

Growing Ontario’s electric vehicle supply chain 2024-25 achievements

In 2024-25, the ministry and Invest Ontario landed 15 projects in the EV sector valued at over $15 billion, creating over 3,000 jobs and retaining over 7,000, including:

• Asahi Kasei: In May 2024, the company announced an approximately $1.6 billion investment to build an EV battery separator plant to produce lithium-ion battery separators in Port Colborne. The project is a joint venture between Asahi Kasei and Honda Canada Inc. and will be a part of Honda’s plans to establish a comprehensive EV supply chain in Ontario. The project will create more than 300 jobs.
• Completed round 5 with $4.9 million in funding support for the Ontario Automotive Modernization Program that resulted in 38 innovative projects receiving support and leveraging $13 million in spending from companies that will lead to almost 2,000 jobs created or retained.
• OVIN projects funded in 2024-25 resulted in over 900 jobs created, leveraging over $60M in investment in support of over 120 Ontario companies.

Attracting investments to Ontario 2024-25 achievements

• In 2024-25, Invest Ontario announced investment projects valued at over $5 billion, creating over 5,000 jobs. Projects were landed across a range of key sectors, including automotive, life sciences, and manufacturing. Success stories include:
  • AstraZeneca: In January 2025, the Ontario government secured an $820 million investment from AstraZeneca, a global biopharmaceutical business, to expand the company’s research and development facilities in Mississauga and relocate the company’s Canadian headquarters to a larger, state-of-the-art office. The investment will create over 700 new jobs across Ontario’s life sciences sector. In support of this investment, Ontario is providing $16.1 million in funding through the Invest Ontario Fund.
  • Siemens: In March 2025, the government announced that Invest Ontario was supporting an investment of $150 million by Siemens, a leading technology company, to establish a Global Artificial Intelligence Manufacturing Technologies Research and Development Centre for Battery Production at its headquarters in Oakville. Ontario is providing $7.2 million in funding through the Invest Ontario Fund to support Siemens' investment. The research and development centre will focus on developing cutting-edge AI manufacturing technologies that advance battery efficiency and refine production processes to support electric vehicle battery production. Once operational, the centre will leverage collaborations between battery manufacturers and universities to upskill the province's auto workforce. Siemens' investment is expected to create up to 90 good-paying jobs across the province and play an important role in facilitating improved value and innovation across Ontario's EV battery supply chain.
• Delivered 57 export business missions, resulting in over $1.2 billion in potential export sales opportunities, including $116 million in actual export revenue reported. 65 export education webinars and seminars, and international buyer programs that were organized attracted over 900 Ontario businesses. The Trade and Investment Offices Network also performed strongly, attracting $349.6 million in new investments leading to the creation of 1,374 jobs, supporting 308 unique clients.
• Delivered 16 minister-led missions to 14 different countries, which included 160 meetings with foreign government officials, business leaders, and trade organizations. These strategic engagements strengthened international relationships and fostered new business partnerships, directly contributing to securing significant investments in Ontario, including recent commitments from Honda, Asahi Kasei, Hannon Systems, Roche, and AstraZeneca.
• Re-launched the international advertising campaign and multi-language landing page with Cabinet Office Communications to continue increasing awareness and driving investment to Ontario. The landing page was developed in four languages (English, French, Japanese and Korean), and is focused on six unique markets (U.K. France, Germany, South Korea and Japan). The campaign delivered over 525 million impressions and generated engagement from across 23+ countries.
• Since the Regional Development Program was launched, it has announced over $160 million in investments in 126 companies and organizations through the Eastern Ontario Development Fund, Southwestern Ontario Development Fund streams and an additional investment of over $45 million in 40 companies and organizations through the Advanced Manufacturing Innovation Competitiveness stream. This has leveraged over $2.1 billion in new investments and created over 4,000 jobs. In fiscal 2024-25 alone, the program has announced over $65 million in investments in 52 companies and organizations, leveraged over $545 million in new investments and created over 1,200 jobs.

Supporting Ontario business and entrepreneurship 2024-25 achievements

• Ontario's Small Business Enterprise Centres consulted with over 36,800 businesses helping Ontario’s smallest businesses start and grow.
• In the past year the RIC Program to generated $5 billion in revenue, $2 billion capital raised and 1,100 in IP assets created by over 6,700 RIC clients.
• Sandbox Centre opened in November 2024 as new Regional Innovation Centre in Barrie to serve technology business founders and help create high paying jobs in the region.
• Ontario launched the Critical Technology Initiatives (CTI) program, awarding $107 million to five organizations to support the development, commercialization and adoption of critical technologies (i.e. 5G, AI, blockchain, cybersecurity, quantum, and robotics) across Ontario's key sectors. Five organizations were selected for funding including: Vector Institute for AI, Ontario Centre of Innovation, Ontario Bioscience Innovation Organization, Quantum Valley Ideas Lab, and Canadian Cyber Threat Exchange. To date, the five CTI organizations have created and retained 14,770 jobs and are toward achieving their 3-year target of over 1,500 jobs.

KPI outcome statement 1: Increase job creation for Ontarians

Indicator

• increase in the number of jobs created through ministry investments

Baseline value and date

• 6,000 FY 2023-24

Trend value and date

• 8,000 (FY 2024-25)
• 10,9000 (FY 2025-26)
• 11,700 (FY 2026-27)
• 9,000 (FY 2027-28)

Target value and date

• 10,000 by FY 2029-30

Indicator

• meeting at least 90% of the jobs created target through ministry investments

Baseline value and date

• 80% (FY 2024-25)

Trend value and date

• 83% (FY 2025-26)
• 85% (FY 2026-27)
• 88% (FY 2027-28)

Target value and date

• 90% by FY 2029-30

The ministry anticipates a steady increase in job creation over the next three years through investments made by the ministry. The ministry supports the creation of thousands of jobs annually, and this measure is intended to evaluate how projects and programs supported by the ministry are meeting job creation targets. The programs that are identified below were the top contributors to this KPI. For next 5 years, the ministry anticipates achieving a 90% in meeting its target for job creation.

Programs that contributed to the KPI result

• Automotive Plan - (including Ontario Automotive Modernization Program)
• Critical Technologies Initiative
• industrial Land Development
• Invest Ontario Fund
• Life Sciences Strategy
• Ontario Vehicle Innovation Network
• Regional Development Program
• Strategic investments

KPI outcome statement 2: Attracting investments to Ontario

Indicator

• annual dollar value of investment leveraged

Baseline value and date

• $2.7B (FY 2023-24)

Trend value and date

• $3.9B (FY 2024-25)
• $4.5B (FY 2025-26)
• $2.6B (FY 2026-27)
• $1.6B (FY 2027-28)

Target value and date

• $4.0B (FY 2029-30)

The ministry leverages approximately $2- $4 billion through its strategic investments annually. This value is largely dependant on the dollar value of investments made by the province and can therefore fluctuate each year. The ministry has set a target reflecting the average amount of investment leveraged over the last four years. The programs that are identified below were the top contributors to this KPI.

Programs that contributed to the KPI result

• Automotive plan
• Industrial Land Development
• Invest Ontario Fund
• Life Sciences Strategy
• Ontario Vehicle Innovation Network
• Regional Development Program
• Strategic investments

KPI outcome statement 3: Supporting Ontario Businesses and Entrepreneurship

Indicator

• increase in the percentage of entrepreneurs and businesses supported

Baseline value and date

• 30,000 (FY 2023-24)

Trend value and date

• 40,000 (FY 2024-25)
• 41,500 (FY 2025-26)
• 40,400 (FY 2026-27)
• 40,300 (FY 2027-28)

Target value and date

• 3% increase by FY 2029-30

The ministry offers a range of programs and networks to support entrepreneurs and businesses. The ministry is anticipating that the trend value over the next three years will remain largely consistent. The target set by the ministry anticipates a slight increase of 3% to support entrepreneurs and businesses. The programs that are identified below were the top contributors to this KPI.

Programs that contributed to the KPI result

• Automotive Plan (including Ontario Automotive Modernization Program)
• Business Advisory Services
• Commercialization and Innovation Network Support (incl. Regional Innovation Centres)
• Communitech Hub
• Digitalization Competence Centre
• Export Business Missions
• Futurpreneur
• Invest Ontario Fund
• Investment Attraction Organizations
• Life Sciences Strategy
• Ontario Centre of Innovation
• Ontario Made Program
• Ontario Vehicle Innovation Network
• Regional Development Program
• Small Business Enterprise Centres
• Trade and Investment Network

Disclaimer: As the ministry refines its performance measurement and reporting processes, the above targets are subject to change and the data is reliant on information provided by ministry partners. These targets are also subject to the availability of inputs available to create jobs, attract investments and support clients. Changes in key inputs such as availability of financial and human resources would result in revised targets. The ministry is reporting on programs where the outcomes are most relevant to the applicable indicator.

Table 3: Ministry interim actual expenditures 2024-25

* Interim actuals reflect the numbers presented in the 2025 Ontario Budget.

** Ontario Public Service Full-Time Equivalent positions.

* Excludes the following Consolidation Adjustments: Consolidation Adjustment - Venture Ontario