Forging Success: Creating the Conditions for Growth
Since taking office in June 2018, our government has been making Ontario, Canada, the best destination for businesses to invest, expand, and create good-paying jobs. We did this by working relentlessly to lower the cost of doing business in Ontario by $8 billion annually, lowering taxes, and cutting over 550 pieces of unnecessary red tape – and the results speak for themselves.
Over the past four years, we have seen automakers invest $46 billion, life sciences companies and global biomanufacturers invest $6 billion; and tech companies invest tens of billions of dollars in our province’s growing innovation ecosystem. These investments have played a pivotal role in driving Ontario’s economic growth and have led to the creation of close to one million new jobs over the past seven years.
Ontario is increasingly the place of choice for businesses looking to compete on the world stage. With a combination of low, competitive costs, and a highly skilled talent pool, that sees over 70,000 new STEM graduates joining the workplace each year – Ontario offers everything businesses need to succeed.
As the global economy faces continued volatility, Ontario stands out as a stable, predictable, and reliable partner. Our government remains focused on safeguarding this economic foundation and reinforcing Ontario’s position as one of the most attractive investment destinations in the world.
All Eyes on Ontario: Where the World Invests
Over the last twelve months, Ontario has secured several landmark investments that are transforming the province’s innovation landscape and reinforcing its leadership in key sectors. These investments are not only strengthening Ontario’s global competitiveness but also creating long-term opportunities for businesses and workers.
In November 2024, Swiss pharmaceutical giant Roche announced a new $130 million investment in Mississauga, creating 250 new jobs and expanding Ontario’s footprint in life sciences.
In January 2025, AstraZeneca invested $820 million to expand its R&D facility in Mississauga, further establishing the region as a global hub for cutting-edge health innovation.
And in March 2025, leading tech company Siemens committed $150 million to build a new Global AI Research and Development Centre, which will focus on developing AI technologies that support EV battery production.
Just a month later, the Ferrero Group, one of the world’s largest sweet-packaged food manufacturers, invested $445 million to expand its production facility in Brantford, adding 500 new, high-paying jobs to the community. This investment marked a strong vote of confidence in the province’s food production and manufacturing sector.
These are just some of the recent transformative investments across Ontario’s life sciences, technology, and advanced manufacturing sectors – reinforcing our provinces position as a stable and secure economic partner.
Ontario’s Pivot to Life Sciences: A Strategic Advantage
Ontario has long stood as a beacon of innovation, boasting a thriving research ecosystem, world-class universities, and one of the most highly sought after workforces in the world. As one of the only jurisdictions where over 50 major multinational biotechnology companies currently operate – including Roche, AstraZeneca, Moderna, Sanofi, and Resilience, Ontario continues to lead the charge in shaping the future of healthcare solutions.
But Ontario’s life science sector would not be where it is today without our government’s proactive approach to business and economic development. Following our many successes in the auto industry, we introduced Taking Life Sciences to the Next Level, a comprehensive plan to grow Ontario’s life sciences sector and secure new investments in next generation health technologies, medicines, and vaccine manufacturing. With the bold target of increasing employment by 25 percent in the sector, we are prioritizing the development, commercialization, and early adoption of innovative health products and services.
Building on this vision, we launched Phase 2 of the plan to unlock new opportunities, accelerate the development of life-changing medicines and technologies, and bring ideas to market. As part of this phase, we invested $146 million to drive innovation, expand manufacturing capabilities, and strengthen Ontario’s position as a global leader in healthcare and health technology. This will ensure Ontario remains the hub of cutting-edge advancements for decades to come, building on the more than $6 billion in new life sciences investment our province has already seen.
Unleashing Ontario: Removing Barriers, Driving Results
In recent months, our province has intensified efforts to ensure Ontario can remain competitive, amid growing global economic uncertainty and fierce competition to land investments.
In the most ambitious provincial action to reduce interprovincial trade barriers, Ontario introduced the Protect Ontario through Free Trade within Canada Act to aggressively cut red tape and dismantle barriers to labour mobility. This milestone push for internal free trade will lower costs for businesses and consumers, improve productivity, and grow Canada’s GDP by up to $200 billion annually.
When businesses are looking to Ontario, they need to see a competitive business environment and a simplified regulatory process that gives them certainty. That is why our government also introduced the Protect Ontario by Unleashing our Economy Act, a bold step to fast-track permitting and approvals for projects in areas of strategic economic importance, such as critical minerals, advanced manufacturing, and sustainable energy. Our streamlined approach will accelerate project timelines in half, ensuring companies who invest in Ontario can get shovels in the ground faster.
These are just some of the steps we are taking to strengthen Ontario’s economy and lay the groundwork to be self-reliant, resilient, and prosperous.
Protecting Ontario through Economic Opportunities
In an unpredictable global economy, businesses are looking for more than incentives‒–they’re looking for certainty, stability, and long-term value. Ontario delivers on all three.
Our government’s plan is grounded in a clear, long-term vision: to create the most competitive, resilient business environment in North America. Through targeted action – cutting $8 billion in business costs annually, streamlining approvals, and unlocking growth in key sectors – we’re building the conditions for lasting success.
Whether you are planning to build, expand, or transform—Ontario offers more than opportunity. It offers certainty, and a partnership that will endure for decades.
