Summary

The Ministry supports economic growth and job creation focussed on delivering value for money, enhanced accountability, and improved transparency for all Ontarians by:

  • Providing programs and services that help increase Ontario's overall productivity and competitiveness, and help companies launch, innovate, grow, scale and harness the right talent
  • Leading an all-of-government approach to develop and implement cross-cutting policies and strategies to ensure Ontario remains globally competitive and on a path towards continued innovation and economic growth
  • Partnering with industry, associations, sector organizations, academia, local partners and other levels of government to develop policies, strategies, and solutions that strengthen Ontario’s regional economies, competitiveness and innovation
  • Developing and implementing strategies, policies and programs that strengthen the economy of regions across the province, priority sectors and develop the innovation ecosystem for companies to start-up, scale-up and anchor their growth in Ontario.
  • Supporting Ontario’s venture capital ecosystem to help companies grow and compete globally.

The Ministry also promotes Ontario as a top-tier trading partner and investment destination, showcasing how we are making it easier to establish and do business in the province. Through its international network of Trade and Investment Offices, and the delivery of trade policy and program supports, the Ministry protects Ontario’s interests in free trade agreements and helps businesses increase their exports to grow and scale.

Through its agency, Invest Ontario, the Ministry promotes Ontario as a top-tier investment destination, showing the world how we are making it easier to invest and do business in the province.

Ministry program summary
Vote Program Estimates
2024-25 $		 Estimates
2023-24 $		 Difference
Between
2024-25
and
2023-24 $		 Actual
2022-23 $

Operating expense
901 Ministry Administration Program 23,624,500 23,140,900 483,600 18,973,089
902 Economic Development, Job Creation and Trade Program 2,661,905,800 1,284,810,200 1,377,095,600 1,050,567,830
  Total Operating Expense to be Voted 2,685,530,300 1,307,951,100 1,377,579,200 1,069,540,919
  Statutory Appropriations 529,565 1,182,187 (652,622) 2,172,683
  Ministry Total Operating Expense 2,686,059,865 1,309,133,287 1,376,926,578 1,071,713,602
  Consolidation Adjustment - Venture Ontario 837,700 671,400 166,300 2,388,632
  Consolidation Adjustment - General Real Estate Portfolio - - - (137)
  Consolidation Adjustment - Invest Ontario - - - (542,026)
  Consolidation Adjustment - Ontario Infrastructure and Lands Corporation (7,440,000) - (7,440,000) -
  Total Including Consolidation and Other Adjustments 2,679,457,565 1,309,804,687 1,369,652,878 1,073,560,071

Operating assets
902 Economic Development, Job Creation and Trade Program 141,965,400 109,722,000 32,243,400 23,907,240
  Total Operating Assets to be Voted 141,965,400 109,722,000 32,243,400 23,907,240
  Ministry Total Operating Assets 141,965,400 109,722,000 32,243,400 23,907,240

Capital expense
902 Economic Development, Job Creation and Trade Program 3,000 3,000 - -
  Total Capital Expense to be Voted 3,000 3,000 - -
  Statutory Appropriations 1,000 1,000 - -
  Ministry Total Capital Expense 4,000 4,000 - -
  Total Including Consolidation and Other Adjustments 4,000 4,000 - -

Capital assets
902 Economic Development, Job Creation and Trade Program 2,000 2,000 - -
  Total Capital Assets to be Voted 2,000 2,000 - -
  Ministry Total Capital Assets 2,000 2,000 - -
  Ministry Total Operating and Capital Including Consolidation and Other Adjustments (not including Assets) 2,679,461,565 1,309,808,687 1,369,652,878 1,073,560,071

Reconciliation to Previously Published Data 

Operating Expense Estimates
2023-24 $		 Actual
2022-23 $
Total Operating Expense previously published footnote 1 1,309,133,287 1,078,357,208
Government Reorganization    

Transfer of functions to other Ministries

 - (6,643,606)
Restated Total Operating Expense 1,309,133,287 1,071,713,602

Ministry Administration Program - Vote 901

This program provides financial, human resources, planning, legal, and other corporate services for the operational programs and certain agencies of the Ministry.

Vote summary
Item number Item Estimates
2024-25 $		 Estimates
2023-24 $		 Difference
Between
2024-25
and
2023-24 $		 Actual
2022-23 $

Operating expense
1 Ministry Administration 23,624,500 23,140,900 483,600 18,973,089
  Total Operating Expense to be Voted 23,624,500 23,140,900 483,600 18,973,089
S Minister's Salary, the Executive Council Act 47,841 47,841 - 87,235
S Minister without Portfolio’s Salary, the Executive Council Act 22,378 - 22,378 5,159
S Parliamentary Assistants' Salaries, the Executive Council Act 32,346 32,346 - 41,853
S Bad Debt Expense, the Financial Administration Act 1,000 1,000 - -
  Total Statutory Appropriations 103,565 81,187 22,378 134,247
  Total Operating Expense 23,728,065 23,222,087 505,978 19,107,336
Standard account by item and sub-items
Vote-
Item
number		 Standard account by item and sub-items Amount $ Amount $

Operating expense
901-1 Ministry Administration    
 

Salaries and wages

   14,436,300
 

Employee benefits

   1,486,500
 

Transportation and communication

   630,000
 

Services

   6,617,600
 

Supplies and equipment

   454,100
 

Other transactions

   100,000
  Subtotal   23,724,500
  Less: Recoveries   100,000
  Total Operating Expense to be Voted   23,624,500
  Sub-Items:    
  Main Office    
 

Salaries and wages

 6,481,700  
 

Employee benefits

 618,800  
 

Transportation and communication

 185,000  
 

Services

 1,789,500  
 

Supplies and equipment

 75,000 9,150,000
  Planning and Finance    
 

Salaries and wages

 3,695,500  
 

Employee benefits

 428,300  
 

Transportation and communication

 350,000  
 

Services

 1,680,100  
 

Supplies and equipment

 192,500  
 

Other transactions

 100,000  
 

Subtotal

 6,446,400  
 

Less: Recoveries

 100,000 6,346,400
  Human Resources    
 

Salaries and wages

 1,069,400  
 

Employee benefits

 105,400  
 

Transportation and communication

 40,000  
 

Services

 183,000  
 

Supplies and equipment

 20,000 1,417,800
  Communications Services    
 

Salaries and wages

 3,154,700  
 

Employee benefits

 332,000  
 

Transportation and communication

 35,000  
 

Services

 700,000  
 

Supplies and equipment

 40,000 4,261,700
  Legal Services    
 

Salaries and wages

 35,000  
 

Employee benefits

 2,000  
 

Transportation and communication

 20,000  
 

Services

 2,265,000  
 

Supplies and equipment

 126,600 2,448,600
  Total Operating Expense to be Voted   23,624,500
  Statutory Appropriations    
Statutory

Minister's Salary, the Executive Council Act

   47,841
Statutory

Minister without Portfolio’s Salary, the Executive Council Act

   22,378
Statutory

Parliamentary Assistants' Salaries, the Executive Council Act

   32,346
  Statutory Appropriations    
 

Other transactions

    
Statutory

Bad Debt Expense, the Financial Administration Act

   1,000
  Total Operating Expense for Ministry Administration Program   23,728,065

Economic Development, Job Creation and Trade Program - Vote 902

This program supports economic growth and job creation in Ontario by:

  • Delivering and managing related funding and business support programs
  • Engaging with industry to support Ontario priorities and issues management
  • Collaborating with partner ministries to develop policies and strategies to improve business competitiveness, and strengthen the innovation ecosystem
  • Ensuring Ontario's interests are well-represented in all trade matters and negotiations, developing investment and trade strategies to increase Ontario's competitiveness domestically and internationally
  • Identifying potential sites well suited for major industrial investments and working with municipalities, landowners, and utility partners to make these sites investment ready
  • Attracting, promoting, and facilitating exports and investment through Ontario’s international network of 15 Trade and Investment Offices
  • Delivering export support programs to grow the number of Ontario exporters and increase exports
  • Providing broader investment services and valuable connections for investors looking to establish their businesses in the province
  • Advancing Foreign Direct Investment in Ontario and building strategic partnerships with leading companies and stakeholders within key sectors of Ontario’s economy
  • Attracting and growing investment in key business clusters, regions, and sectors, such as automotive, advanced manufacturing, biomanufacturing, life sciences, and technology
  • Establishing a Land Development Allocation to finance the development of an inventory of assembled and serviceable industrial sites that equips Ontario to secure high-value strategic greenfield projects in its investment pipeline.

Ontario’s investment attraction agency, Invest Ontario, plays a pivotal role in the province’s growth. It works to secure anchor and next generation investments that will create jobs, increase resilience, diversify our economy, and create new opportunities across value and supply chains.

The Ministry is delivering technology, development, adoption and talent programs that build strong relationships with members of the entrepreneurial and innovation ecosystem and to provide them with access to capital and services to scale-up their businesses and create jobs.

The Ministry also supports Intellectual Property Ontario, a new go-to resource that will help researchers and companies maximize the value of their intellectual property (IP) and strengthen their capacity to grow and compete in the global market.

Vote Summary
Item number Item Estimates
2024-25 $		 Estimates
2023-24 $		 Difference
Between
2024-25
and
2023-24 $		 Actual
2022-23 $

Operating expense
13 Economic Development, Job Creation and Trade 2,661,905,800 1,284,810,200 1,377,095,600 1,050,567,830
  Total Operating Expense to be Voted 2,661,905,800 1,284,810,200 1,377,095,600 1,050,567,830
S Bad Debt Expense, the Financial Administration Act 426,000 1,101,000 (675,000) 2,038,436
  Total Statutory Appropriations 426,000 1,101,000 (675,000) 2,038,436
  Total Operating Expense 2,662,331,800 1,285,911,200 1,376,420,600 1,052,606,266

Operating assets
14 Economic Development, Job Creation and Trade 141,965,400 109,722,000 32,243,400 23,907,240
  Total Operating Assets to be Voted 141,965,400 109,722,000 32,243,400 23,907,240
  Total Operating Assets 141,965,400 109,722,000 32,243,400 23,907,240

Capital expense
21 Economic Development, Job Creation and Trade 3,000 3,000 - -
  Total Capital Expense to be Voted 3,000 3,000 - -
S Amortization, the Financial Administration Act 1,000 1,000 - -
  Total Statutory Appropriations 1,000 1,000 - -
  Total Capital Expense 4,000 4,000 - -

Capital assets
22 Economic Development, Job Creation and Trade 2,000 2,000 - -
  Total Capital Assets to be Voted 2,000 2,000 - -
  Total Capital Assets 2,000 2,000 - -
Standard Account by Item and Sub-Items
Vote-
Item
number		 Standard Account by Item and Sub-Items Amount $ Amount $ Amount $

Operating expense
902-13 Economic Development, Job Creation and Trade      
 

Salaries and wages

     43,418,200
 

Employee benefits

     5,116,500
 

Transportation and communication

     3,677,900
 

Services

     110,002,100
 

Supplies and equipment

     1,126,100
 

Transfer payments

      
 

Auto Assemblers Investments

   2,100,000  
 

Automotive Plan

   4,000,000  
 

Commercialization and Innovation Network Support

   19,304,200  
 

Communitech Hub

   3,900,000  
 

Critical Technologies Initiative

   40,700,000  
 

Futurpreneur

   2,000,000  
 

Industrial Land Development

   797,485,000  
 

Intellectual Property Ontario

   13,933,600  
 

Invest Ontario Fund

   94,900,000  
 

Invest Ontario Fund - Operating

   13,910,000  
 

Investment Attraction Organizations

   3,000,000  
 

Jobs and Prosperity Fund and Other Business Support Programs

   75,238,000  
 

Life Sciences Strategy

   16,300,000  
 

Ontario Business-Research Institute Tax Credit

   24,505,300  
 

Ontario Centre of Innovation

   13,900,000  
 

Ontario Innovation Tax Credit

   185,661,200  
 

Ontario Made Manufacturing Investment Tax Credit

   275,000,000  
 

Ontario-Québec Francophonie Trade Award

   20,000  
 

Ontario Vehicle Innovation Network

   13,850,000  
 

Regional Opportunities Investment Tax Credit

   65,702,400  
 

Small Business Digitization Competence Centre

   3,600,000  
 

Sector Support Grants

   16,161,100  
 

Small Business Enterprise Centres Entrepreneurship Programs

   14,276,000  
 

Strategic Investments

   798,821,100  
 

Trillium Network for Advanced Manufacturing

   500,000 2,498,767,900
  Subtotal     2,662,108,700
  Less: Recoveries     202,900
  Total Operating Expense to be Voted     2,661,905,800
  Sub-Items:      
  Economic Development and Investment      
 

Salaries and wages

   16,514,600  
 

Employee benefits

   2,083,200  
 

Transportation and communication

   1,562,800  
 

Services

   95,306,300  
 

Supplies and equipment

   465,200  
 

Transfer payments

      
 

Auto Assemblers Investments

 2,100,000    
 

Automotive Plan

 4,000,000    
 

Critical Technologies Initiative

 40,700,000    
 

Futurpreneur

 2,000,000    
 

Industrial Land Development

 797,485,000    
 

Invest Ontario Fund

 94,900,000    
 

Invest Ontario Fund - Operating

 13,910,000    
 

Investment Attraction Organizations

 3,000,000    
 

Jobs and Prosperity Fund and Other Business Support Programs

 75,238,000    
 

Life Sciences Strategy

 16,300,000    
 

Ontario Made Manufacturing Investment Tax Credit

 275,000,000    
 

Ontario-Québec Francophonie Trade Award

 20,000    
 

Ontario Vehicle Innovation Network

 13,850,000    
 

Regional Opportunities Investment Tax Credit

 65,702,400    
 

Small Business Digitization Competence Centre

 3,600,000    
 

Sector Support Grants

 16,161,100    
 

Strategic Investments

 798,821,100    
 

Trillium Network for Advanced Manufacturing

 500,000 2,223,287,600 2,339,219,700
  Strategy and Policy      
 

Salaries and wages

   4,986,800  
 

Employee benefits

   571,700  
 

Transportation and communication

   99,500  
 

Services

   608,400  
 

Supplies and equipment

   53,000  
 

Subtotal

   6,319,400  
 

Less: Recoveries

   202,900 6,116,500
  Start-ups and Scale-ups      
 

Salaries and wages

   6,800,000  
 

Employee benefits

   885,000  
 

Transportation and communication

   415,600  
 

Services

   2,502,700  
 

Supplies and equipment

   229,000  
 

Transfer payments

      
 

Small Business Enterprise Centres Entrepreneurship Programs

   14,276,000 25,108,300
  International Trade      
 

Salaries and wages

   15,116,800  
 

Employee benefits

   1,576,600  
 

Transportation and communication

   1,600,000  
 

Services

   11,584,700  
 

Supplies and equipment

   378,900 30,257,000
  Innovation      
 

Transfer payments

      
 

Commercialization and Innovation Network Support

 19,304,200    
 

Communitech Hub

 3,900,000    
 

Intellectual Property Ontario

 13,933,600    
 

Ontario Business-Research Institute Tax Credit

 24,505,300    
 

Ontario Centre of Innovation

 13,900,000    
 

Ontario Innovation Tax Credit

 185,661,200 261,204,300 261,204,300
  Total Operating Expense to be Voted     2,661,905,800
  Statutory Appropriations      
 

Other transactions

      
Statutory

Bad Debt Expense, the Financial Administration Act

     426,000
  Total Operating Expense for Economic Development, Job Creation and Trade Program     2,662,331,800

Operating assets
902-14 Economic Development, Job Creation and Trade      
 

Deposits and prepaid expenses

     1,000
 

Loans and Investments

      
 

Invest Ontario

   100,000,000  
 

Jobs and Prosperity Fund and Other Business Support Programs

   41,964,400 141,964,400
  Total Operating Assets to be Voted     141,965,400
  Total Operating Assets for Economic Development, Job Creation and Trade Program     141,965,400

Capital expense
902-21 Economic Development, Job Creation and Trade      
 

Other transactions

     3,000
  Total Capital Expense to be Voted     3,000
  Statutory Appropriations      
 

Other transactions

      
Statutory

Amortization, the Financial Administration Act

     1,000
  Total Capital Expense for Economic Development, Job Creation and Trade Program     4,000

Capital assets
902-22 Economic Development, Job Creation and Trade      
 

Investments in Tangible Capital Asset

     1,000
 

Land and marine fleet - asset costs

     1,000
  Total Capital Assets to be Voted     2,000
  Total Capital Assets for Economic Development, Job Creation and Trade Program     2,000