CIAC pleased to see Ontario government take further steps to support manufacturing investment in Ontario 

October 30, 2024

The Chemistry Industry Association of Canada (CIAC) congratulates the Hon. Peter Bethlenfalvy, Ontario Minister of Finance on delivering the 2024 Fall Economic Statement.  

Of note, CIAC is pleased to see additional actions taken to reduce the cost of doing business in Ontario and investing in essential infrastructure and attracting new manufacturing investments.

“After several years without attracting new investment into the Ontario chemistry sector, recent leadership by the province has resulted in a number of new projects underway,” said Bob Masterson, President and CEO of CIAC.  

“These additional measures will assist in attracting further investment into Ontario’s important chemistry and plastics sectors,” Mr. Masterson added. 

Among the initiatives contained in the 2024 Fall Economic Statement, CIAC is pleased to see the province announce: 

  • $100 million in additional funding for Invest Ontario and $40 million for Advanced Manufacturing and Innovation Competitiveness Stream;
  • Additional investments to support skills training and apprenticeships;
  • Highlighting the Advanced Manufacturing Council plan to boost the long-term competitiveness of Ontario’s manufacturing sector;
  • Supporting a robust critical minerals supply chain;
  • Continued fiscal management to achieve a budget surplus in 2026-27.

Ontario’s $31-billion chemistry industry is the third-largest manufacturing industry and second largest exporting sector in the province. The sector is a key employer in the Sarnia-Lambton, GTA/Niagara and eastern Ontario regions and directly employs nearly 46,000 Ontarians in well-paying jobs and supports another 275,000 Ontario jobs.  

Our sector supports and enables key manufacturing sectors in the province including automotive/EV/battery, critical minerals, forest products, construction, and food and beverage. The chemistry sector is a key source of innovation and is a solutions provider to address the challenges of climate change, clean air and water, and plastics circularity. Ontario’s chemical manufacturers must compete globally both for market share and investment funding.