ONTARIO 💵🛒 Ontario Promotes Key Sectors During Trade Mission to Texas
Wednesday, 15 March 2023 08:04.PM
- Province’s dynamic automotive and technology sectors highlighted at South by Southwest -
The Ontario government has concluded a successful trade mission to Texas to promote the province’s growing automotive and technology sectors and to explore new opportunities for investments and job creation. The mission, led by Vic Fedeli, Minister of Economic Development, Job Creation and Trade, included the province’s participation in the annual South by Southwest (SXSW) conference, an annual global event to celebrate the convergence of tech, film, music, education and culture.
“When it comes to ensuring that Ontario remains a top destination for global investors looking to expand their operations, our government is leaving no stone unturned,” said Minister Fedeli. “We’re rolling up our sleeves and meeting with companies on the ground to strengthen relationships and bring good-paying jobs to Ontario. In a time of global economic uncertainty, we are taking nothing for granted.”
From March 10 to 14, the province’s delegation, which included several Ontario organizations, met with leading companies in the automotive and technology sectors to promote the province as an ideal place for companies to invest and expand their operations. Meetings were held with executives from Tesla, Dell Technologies, ESO Solutions and other organizations, as well as Texas Secretary of State, Jane Nelson.
Ontario’s delegation also participated in SXSW, an internationally recognized conference that attracts a wide range of global tech companies, looking for opportunities to connect, learn and develop new partnerships. Ontario continues to attract new investments in the tech sector, which is growing 350 per cent faster than Silicon Valley.
With its competitive economy, world-class workforce, state-of-the-art research and development facilities, and abundant critical minerals, Ontario continues to be a prime location for businesses to invest and grow.
Quick Facts
• Texas is Ontario’s fifth largest two-way trading partner in the U.S. and more than 150 Ontario companies have a presence in Texas.
• Ontario has the second largest number of information and communications technology (ICT) establishments in North America and is home to more than 408,000 ICT workers. Ontario’s technology sector is centred around the Toronto, Waterloo and Ottawa regions.
• In 2021, Ontario ranked first in Canada in number of venture capital deals and total capital raised, accounting for 50 per cent of total Canadian investment at $8.4 billion, which is a 170 per cent increase from 2020. Since 2019, Ontario has seen 17 startups grow to reach a valuation of $1 billion or more.
• Over the past two and a half years, Ontario has attracted over $17 billion in investments across Ontario’s automotive sector.
• Invest Ontario is Ontario’s central agency for businesses and investors to discover what others from around the province and globe have already realized—that Ontario is a top-tier destination for investment and strategic business growth. The agency drives economic growth, supports strategic domestic firms and attracts business from around the world.
SOURCE: Ministry of Economic Development, Job Creation and Trade
-
Related materials:
- 04-Dec-2023 08:00 AM ONTARIO 🧑🚗🚓👮 IBC Commends the Ontario Government for Taking Action to Combat Auto Theft 🕵️♀️🔍💵
- 29-Nov-2023 02:28 PM ONTARIO 🤓🧑🎓 Ontario's Public Colleges and Ireland's Technological Universities to Collaborate on Programs and Research 💵
- 25-Nov-2023 12:00 PM ONTARIO 🤓🧑🎓 Colleges call for immediate provincial investments and modest five per cent tuition increase 💵
- 15-Nov-2023 08:00 AM ONTARIO JOBS 🧑🔎🥘☕ 25,000 Jobs by 2025: Food and Beverage Ontario Launches Recruitment Campaign for The Province's Food and Beverage Processing Industry Workforce 💵
- 14-Nov-2023 06:36 PM ONTARIO JOBS 🧑🔎 Labatt boosts production and sustainability with $26.6M expansion of London 💵Brewery
- 14-Nov-2023 04:35 PM ONTARIO 💵 Taking Steps to Better Protect Ontario Pension Plan Beneficiaries
- 11-Nov-2023 04:31 PM ONTARIO JOBS 💵 Ontario Strengthening Mining Industry Innovation and Development in the Northeast
- 10-Nov-2023 02:34 PM ONTARIO 💵 Ontario Strengthening Penalties for Landfill Facilities that Contravene Environmental Laws
- 10-Nov-2023 12:00 PM ONTARIO JOBS 🧑🔎👩 Ontario Helping More Women Build Skills and Get Jobs 💵
- 09-Nov-2023 12:00 PM ONTARIO JOBS 🧑🔎⚖️Ontario To Ban Requirements for Canadian Work Experience in Job Postings