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ONTARIO 🤝💰🤑 Ontario Unlocking More Opportunities for Businesses

Friday, 03 May 2024 04:36.PM

- New procurement rules prioritizing local companies -

A new regulation under the Building Ontario Businesses Initiative Act, 2022 (BOBIA) will give Ontario companies more opportunities to compete for procurement contracts from public sector entities like hospitals, school boards and universities.

Whether it is a medical supply company in Thunder Bay or a fresh produce supplier in London, several Ontario businesses and industries will now have a competitive advantage that will help bolster their success.

“Ontario small businesses are the backbone of our economy, employing more than two million people,” said Nina Tangri, Associate Minister of Small Business. “By leveling the playing field for local businesses, the government is supporting Ontario-made products and innovations that will promote economic growth, create new jobs and secure the province’s supply chain.”

Under the regulation, public sector entities are now required to give preference to Ontario businesses when conducting procurements below the specified thresholds. This ensures compliance with the province’s trade obligations.The new rules apply to procurements below a $121,200 threshold for goods and services in the Broader Public Sector. Similarly, for the Ontario Public Service, the thresholds are set at $30,300 for goods and $121,200 for services.

“We applaud the government for making a commitment to support Ontario businesses by creating the Building Ontario Businesses Initiative", said Mike Canzoneri, President and CEO of Canadian Hospital Specialities. “We look forward to working with Supply Ontario to reduce long standing barriers so Ontario based companies can benefit from greater access to public procurement opportunities, grow our businesses and create more jobs.”

The government anticipates that at least $3 billion in contracts will be awarded to Ontario businesses through to 2026.

Quick Facts

• Every year, the Ontario Public Service and Broader Public Sector spends approximately $30 billion on goods and services. The province is leveraging this to help grow Ontario’s local businesses, including technology and manufacturing sectors.
• Supply Ontario is a provincial agency created to address challenges faced in the public sector supply chain system. Supply Ontario works with partners to transform and modernize the procurement process to benefit the economy and businesses across the province.
• With support from the province, the Canadian Manufacturers and Exporters launched the Ontario Made program to promote the many world-class products that are made right here.

"Our government is continuing to deliver on our promise to build Ontario by supporting Ontario-made products and services that will help protect the supply chain, create good paying jobs and rebuild the province’s economy. Ontario businesses should benefit from the investments of its own government."
- Caroline Mulroney, President of the Treasury Board and Minister of Francophone Affairs

"Today's announcement marks a significant milestone in Ontario's economic recovery. By prioritizing Ontario businesses through the Building Ontario Businesses Initiative Act, we are not only fostering a competitive advantage for our local industries but also reaffirming our commitment to the prosperity and resilience of the people of Ontario. This initiative showcases the power of collaboration between government and business, paving the way for a stronger, more resilient province."
- Effie J. Triantafilopoulos, Member of Provincial Parliament for Oakville North—Burlington and Parliamentary Assistant to the Minister of Economic Development, Job Creation and Trade

"As a provincial agency created to modernize and transform public procurement in Ontario, Supply Ontario recognizes the important role public purchasing plays in supporting Ontario’s economy. We are proud to play a key role in the Building Ontario Businesses Initiative, which will help Ontario businesses sell more goods and services, create jobs in their local communities and provide support for them to innovate and compete more effectively."
- James Wallace, CEO, Supply Ontario

SOURCE: Ontario Ministry of Economic Development, Job Creation and Trade

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