December 6, 2013

Toronto, Ontario—The Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), today launched the Southern Ontario Prosperity Initiatives (SOPIs), a new suite of initiatives designed to support and develop a stronger, more vibrant southern Ontario economy.  The Minister made the announcement at the Innovation 2013 Conference presented by the Alliance for Commercialization of Canadian Technologies (ACCT), accompanied by Mark Adler, Member of Parliament for York Centre.

"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

Investing in Business Growth and Productivity

Investing in Commercialization Partnerships

Investing in Regional Diversification

Each of these initiatives is uniquely designed to help retain, attract and grow businesses in southern Ontario to increase the region's global competitiveness.  Over $530 million in funding is available under the SOPIs.  See the backgrounders for more information.

"We are pleased to have Minister Goodyear speak at this year's conference," said Janet Scholz, President, ACCT Canada.  "Our theme this year is ‘the changing landscape of partnerships and commercialization,' and it is very clear that the work of FedDev Ontario—past and future—is in line with what we are trying to achieve for all of those in Canadian innovation."

"The Ontario Chamber of Commerce is Ontario's Business Advocate," said Allan O'Dette, President, Ontario Chamber of Commerce.  "Our work with FedDev Ontario has proven to be beneficial for businesses in Ontario, and we look forward to the next phase of programs and initiatives to support economic growth in Ontario."

Created in 2009, FedDev Ontario supports the southern Ontario economy by building on the region's strengths and creating opportunities for jobs and economic growth.  In Budget 2013, the Government of Canada demonstrated its continued commitment to workers, families and communities in southern Ontario with the renewal of FedDev Ontario.  Economic Action Plan 2013 provides $920 million over five years for the Agency, starting on April 1, 2014.

To learn more about the details of new programming, please visit www.FedDevOntario.gc.ca or call toll-free at 1-866-593-5505.  Follow us on Twitter @FedDevOntario.