Ontario generates 37 percent of Canada’s national GDP and is home to almost 50 percent of all employees in high tech, financial services, and other knowledge-intensive industries. Locating in Ontario gives companies access to the $19 billion NAFTA market and its more than 470 million consumers.
Competitive Business Costs
According to KPMG’s Competitive Alternatives 2014, Canada offers the greatest overall business cost advantage in the G7, with business costs 7.2 percent lower than the U.S. average. In addition, Ontario’s corporate income tax rate is lower than the average of G20 countries and lower than the average federal state CIT rate in the United States. Both help make Ontario one of the most competitive jurisdictions for new business investments.
A Top Destination for FDI
Ontario, Canada, continues to far outperform its competitors as the number-one jurisdiction in North America in attracting foreign direct investment (FDI) projects. According to the 2014 FDI Intelligence (a division of Financial Times), in 2013 Ontario attracted $7.23bn in FDI, accounting for more than one-tenth of FDI in North America.
Most Educated Workforce in the G7
Sixty-four percent of Ontario workers have a postsecondary education. With 20 universities and 24 colleges available for students to train in all disciplines — from skilled trades to the most advanced areas of science, engineering, and business — it is no wonder Ontario has the most educated workforce in the G7.
Fifty Percent Reduction in R&D costs
Ontario’s R&D incentives are among the most generous in the world. New ideas flourish in Ontario, where more than $14.6 billion is spent on research and development each year by industry, governments, hospitals, academic and research institutions, and private nonprofit organizations.
Making Investing Easy
Ontario offers a one-window investment service for multinational companies, providing information, advice, and introductions to the people networks that make investing in Ontario easy. In addition, the recently launched Investment- Ready Certified Site Program provides easy access to key information about properties, including locations and ownership, transportation access, utilities servicing, and complete due-diligence information.
Ontario’s environment of innovation, competitive business costs, and access to market make it one of the world’s most dynamic regions for business investment.
