CIAC pleased to see elements for economic growth in Ontario budget  

March 24, 2023

The Chemistry Industry Association of Canada (CIAC) congratulates the Hon. Peter Bethlenfalvy, Minister of Finance on the tabling of the 2023 Budget – “Building A Strong Ontario.” 

CIAC is pleased to see the government continue to take steps to support long-term economic growth and prosperity. Of note in the 2023 Ontario budget, we recognize the following: 

  • A 10 per cent refundable tax credit for manufacturing investments of up to $2 million a year for buildings, machinery and equipment. 
  • Commitments to support skilled trades and jobs including $224 million to build and upgrade training centres and an additional $75 million in funding for the Skills Development Fund. 
  • A re-commitment to develop an advanced manufacturing strategy and create an Advanced Manufacturing Council to help inform the strategy. 
  • Acknowledgement that actions must taken to address the competitive threat of the United States’ Inflation Reduction Act. 

As the government remains focused on critical minerals development, electric vehicle and battery manufacturing, our members’ Ontario operations produce important inputs that enable more efficient extraction and processing of critical minerals, chemicals and plastics that make safer, lighter and more fuel-efficient vehicles, and chemicals used in lithium-ion batteries. Ontario’s chemistry sector also supports other key industries including forest products, electronics, construction, and food and beverage.   

The global chemistry industry is on the cusp of two transformations – the transformation to net-zero carbon emissions and the transformation to a circular economy for plastics. We support the government’s actions on other initiatives including the roll-out of a province-wide extended producer responsibility regulatory framework and proposed measures to enable the geologic storage of carbon. We look forward to working with the government on its advanced manufacturing strategy and other initiatives to create the conditions that support growth, continued investment and the renewal of the chemistry sector in Ontario.