Toronto, Ontario
Small- and medium-sized businesses play a vital role in the success of Canada's economy. The Government of Canada is committed to supporting entrepreneurs, business owners and the organizations that support them to strengthen Canada's economy and create good jobs for Canadians.
Today, on behalf of the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), Bryan May, Parliamentary Secretary to the Minister for Small Business and to the Minister responsible for FedDev Ontario, visited Toronto Global, a not-for-profit organization that attracts global investment projects to the Greater Toronto Area and helps international businesses to establish their ventures, make connections and access talent in the region.
While there, PS May announced a combined total investment of $11 million in three organizations that help entrepreneurs as they establish their businesses, scale up and grow in Ontario: Toronto Global, Downsview Aerospace Innovation & Research, and Toronto Business Development Centre. As part of this, Toronto Global is receiving a $5 million investment to continue to offer value-added services to attract international investment to the GTA region. The project also aims to strengthen regional clusters and value chains by connecting local suppliers with international businesses, leading to enhanced business productivity and global competitiveness.
With a $4-million investment, Downsview Aerospace Innovation & Research (DAIR) is delivering a combination of new and enhanced programming such as DAIR Tecnomatix, and the enhanced DAIR Green Fund and DAIR Supplier Development Initiative to grow Ontario's aerospace sector and enhance access to global aerospace supply chains. Through their programming suite, DAIR aims to support businesses' technology readiness and commercialization, reduce the environmental footprint of the aerospace sector, and enhance business productivity and supplier-customer relationships.
With an investment of $2 million, Toronto Business Development Centre will enhance access to their programming and services to better support newcomer businesses; creative entrepreneurs; and small- and medium-sized enterprises. These enhanced services will provide entrepreneurs with much needed support while building capacity.
In addition, this combined investment will support nearly 200 businesses and 100 entrepreneurs. The Government of Canada is investing in businesses and the organizations that support them to ensure that entrepreneurs have access to the programming and services they need to grow and succeed for years to come.
