Question Period Note: FedDev Ontario Investment Outcomes

FedDev Ontario Investment Outcomes

• FedDev Ontario helps businesses remain resilient during challenging times, with investments that strengthen supply chains and keep companies rooted in their communities.

• The Agency funds projects in sectors of strategic importance to southern Ontario. These investments – in sectors like AI, quantum, life sciences and advanced manufacturing – are essential for building the economy of the future.

• The return on investment is clear: over the last decade, FedDev Ontario’s funding has catalyzed $5 billion in additional investments across the region.

• For every dollar invested, FedDev Ontario generated $1.20 in additional economic activity, stimulating local economies and fostering opportunity throughout the region.

• 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 recent 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.

• According to analysis undertaken for FedDev Ontario by the Conference Board of Canada in June 2024, the organization found that for every dollar of investment made by the Agency, Ontario’s GDP grows by $1.20 due to the direct, indirect and induced* economic gains from these investments. (*Induced refers to the economic gains from employee wage expenditure).

• In addition to delivering regional and national programming to support government priorities, business growth, innovation and communities in southern Ontario, FedDev Ontario also provides important business services to SMEs (e.g., helping regional companies participate in defence procurement related opportunities) and plays a connecting role across federal departments and other levels of government to align efforts for sustainable economic growth and development across southern Ontario.

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