Question Period Note: FedDev Ontario Investment Outcomes

FedDev Ontario Investment Outcomes

• Since November 2015, the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) has invested more than $2.5 billion to support over 3,300 projects across southern Ontario.

• These investments helped to create or maintain more than 190,000 jobs, and leverage over $3.7 billion in additional investment in the region.

• FedDev Ontario will continue to make investments that create jobs and support the growth of businesses and communities in southern Ontario.

• FedDev Ontario is an essential part of the government’s plan to create jobs and economic growth in southern Ontario—a dynamic and diverse region that is a driver of Canada’s economic growth and prosperity.

• A Statistics Canada analysis showed that businesses directly supported by FedDev Ontario grew faster than similar non-assisted companies in terms of revenues, employment, productivity and R&D expenditures, and were more likely to still be in operation three years after receiving assistance.

• Another analysis by the Conference Board of Canada found that every $1 from FedDev Ontario’s regular program investments generates an additional $3.50 in value in the broader regional economy.

• In addition to its core role of delivering regional and national programming to support government priorities, business growth, innovation and communities in southern Ontario, FedDev Ontario is also a convenor, pathfinder and champion for the region, working across federal departments and other levels of government to align efforts for sustainable economic growth and development across southern Ontario.

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