CIAC welcomes Ontario government’s measures for economic recovery in 2021 budget
March 25, 2021
The Chemistry Industry Association of Canada (CIAC) welcomes the tabling of the 2021 budget, Ontario’s Action Plan: Protecting People’s Health and Our Economy. We firmly support the provincial government’s efforts to assist Ontario’s people and businesses in the fight against COVID-19 and develop a framework for economic recovery.
CIAC is pleased to see the government take important steps to create the conditions for long-term economic growth and prosperity. Of note, we highlight the following items:
- Additional measures for fighting COVID-19 including rapid testing, contact tracing, vaccine supports and personal protective equipment supply investments.
- Attracting business investment with $400 million over four years to create the Invest Ontario Fund to encourage investments in advanced manufacturing, technology and life sciences.
- Reducing taxes for job creators.
- Proposing a new Ontario Jobs Training Tax Credit and additional funding for employment and training supports.
Ontario’s nearly $25-billion chemistry industry is the third largest manufacturing industry in the province, directly employing over 43,800 Ontarians in well-paying jobs and supporting another 260,000 Ontario jobs in other sectors.
Our members are key employers in the Sarnia-Lambton, GTA/Niagara and Eastern Ontario regions of the province. Our sector 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 in the area of global climate change and managing plastic waste. The industry is global and Ontario’s chemical manufacturers must compete globally both for market share and investment.