With an aerospace workforce of tens of thousands, Ontario has launched a “one stop shop” to encourage more businesses to invest in the Canadian province.
The aerospace industry is a significant contributor to the economy with key strengths in assembly landing gear control systems, unmanned aerial vehicles, space robotics and communication systems.
“Ontario has a very robust, a very resilient aerospace sector, we’re the second largest in Canada, and there are 200 aerospace firms located here in Ontario” explained Hon Victor Fedeli, Minister of Economic Development, Job Creation and Trade for the province. “These companies represent an aerospace workforce of tens of thousands of direct and indirect employees. There are 40 post secondary programmes that focus on aerospace, so students with an interest in aviation, and advanced manufacturing can continue their study at the University or at the college level.”
Talent pool attracts global greats
Ontario is already home to some of the world’s large aerospace companies including Bombardier, Airbus, Raytheon technologies, Mitsubishi and Safran among others.
Fedeli said global aerospace giants were attracted to the province as Ontario had a talent pool which he described as “second to none.” He said the population was “better educated than any OECD country as 69 per cent of Ontarians possess a post-secondary education.”
He added that Ontario almost 50,000 STEM graduates annual and the government has developed the Ontario Immigrant Nominee Program allowing foreign workers, international students and skilled and experience and apply for nomination for permanent residency in Ontario.
Ontario has a central location in the heart of North America with only a short flight or drive to major US hubs. He added that savings on the cost of doing business also attracted businesses to the region as Ontario had one of the lowest corporate tax rates in all of North America and a government committed to reducing regulatory burdens. The province has also created the investment attraction agency, Invest in Ontario.
Invest in Ontario: “private sector approach to business development”
“This is going to be a one stop shop for investors business development and planning expertise. Invest in Ontario, will be initially focused on promoting investment in three of the provinces core strengths, one of which is advanced manufacturing.”
“Invest in Ontario will be bringing private sector approach to business development, and the various benefits of Ontario, including high quality of life, world class education and research institutions, a highly skilled and diverse workforce strong and growing innovation sector, being in a jurisdiction that is squarely focused on reducing red tape and lowering the cost of doing business.”