CIAC congratulates Ontario government on its 2021 Fall Economic Statement
November 05, 2021
The Chemistry Industry Association of Canada (CIAC) congratulates the Ontario government on the delivery of its 2021 Fall Economic Statement. We commend the government’s response to the COVID-19 pandemic and its commitment to Ontario’s recovery and prosperity.
CIAC acknowledges the important steps taken to date to reduce unnecessary and outdated regulatory burdens. We urge that more work is needed to address business competitiveness and investment attraction.
Among the initiatives contained in the 2021 Fall Economic Statement, CIAC is pleased to see the province:
- investment in modernizing and building new infrastructure across the province;
- re-investing into the Skilled Trades Strategy; and
- committing to an Advanced Manufacturing Innovation Competitiveness Funding Stream.
The global chemistry sector is one of the world’s fastest growing sectors. That growth is expected to continue with global chemical volumes tripling over the next two decades. Over $300 billion in investments have started or have been announced in the current business cycle in North America, principally in the U.S. Gulf Coast and Midwest. Ontario has an opportunity to benefit from this investment wave.
Ontario’s $26-billion chemistry industry provides important inputs to a range of key manufacturing sectors in the province including automotive, forest products, construction, and food and beverage. The chemistry sector is a key source of innovation and is an indispensable solutions provider to address the challenges of climate change and net-zero emissions, clean air and water, and waste recovery and the circular economy. Ontario’s chemical manufacturers must compete globally both for market share and investment.
CIAC is pleased to continue to work with the Ontario Government on the many priorities to create a prosperous Ontario that is once again the economic engine of the country.