Feds launch new initiatives for a stronger Southern Ontario

Friday December 06, 2013
Written by Manufacturing AUTOMATION
The Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), has launched the Southern Ontario Prosperity Initiatives (SOPIs), a new suite of initiatives designed to support and develop a stronger, more vibrant southern Ontario economy.
"Our government is committed to securing long-term economic prosperity and to do so, we will continue to invest in projects and companies where the return on our investment will be of direct benefit to taxpayers and the country," said Minister Goodyear. "The Southern Ontario Prosperity Initiatives mark the next phase of the FedDev Ontario's focus on growing innovative businesses, building strong communities and cultivating the most effective partnerships here in one of Canada's most important economic hubs."

These initiatives, created based on feedback from business leaders and stakeholders, build on FedDev Ontario's successes to-date and send a clear message about the benefits of investing in a strong and prosperous southern Ontario.

"Supporting the drivers of growth and job creation is a priority for our government," said MP Adler. "That is why we continue to put forth world-class programs and initiatives aimed at giving Canadians the tools they need to prosper."

The Southern Ontario Prosperity Initiatives are:

• Investing in Business Innovation: providing mentorship, entrepreneurial support and financing to help new businesses grow and succeed.

• Investing in Business Growth and Productivity: focusing on established southern Ontario businesses that have the potential to be global players with innovative and unique opportunities to accelerate growth and support job creation.

• Investing in Commercialization Partnerships: supporting business-led partnerships with a focus on developing globally competitive products and services.

• Investing in Regional Diversification: supporting the long-term development of stronger, more diverse economies in southern Ontario communities.

Each of these initiatives is designed to help retain, attract and grow businesses in southern Ontario to increase the region's global competitiveness. More than $530 million in funding is available under the SOPIs.

To learn more about the new programming, visit www.FedDevOntario.gc.ca.

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