The numbers are in!
In 2024, Ontario saw historic levels of Foreign Direct Investment. 409 companies invested over $39 billion across the province, creating 24,700 new jobs. Companies from across the world know that Ontario has everything they need to succeed.
Several key sectors in Ontario saw high levels of FDI, reflecting the resilience and diversity of our economy. The more than $39 billion in FDI we landed last year includes:
· 59 Advanced Manufacturing Projects
· 34 Life Sciences Projects
· 18 Agri-Food Projects
· 14 Energy and Mining Projects
Securing job-creating investments from across the globe has been a key priority for our government, under the leadership of Premier Ford. Last year, we embarked on trade and investment missions to 15 different countries where we met with companies from a range of sectors, continuing to underscore Ontario’s value proposition.
That included AstraZeneca, who made an $820 million investment to expand their research and development facilities in Mississauga, creating over 700 new, good-paying jobs. We met with AstraZeneca in the U.K. in July 2024 to finalize the details of this investment.
While in Switzerland, we met with Jungbunzlauer, who announced a $200 million investment to expand their xanthan gum facility in Port Colborne. Jungbunzlauer’s investment created 50 new jobs for the community while strengthening regional supply chains.
Hanon Systems, who we met with in South Korea, invested $155 million to build a 284,000 square-foot EV parts facility in Woodbridge, creating 300 new jobs.
Roche, who we met with in Switzerland, and later in the U.S., made a $130 million investment to expand their global informatics hub in Mississauga, creating up to 250 new jobs.
When Ontario embarks on trade missions, we come home with real results. Amid unprecedented global economic uncertainty, companies and investors are looking to Ontario as a stable, reliable partner.
In the months ahead, we’ll undertake a series of strategic trade and investment missions, so that we can land more job-creating investments for Ontario.
Earlier today, the Protect Ontario Through Free Trade Within Canada Act received Royal Assent.
Through this Bill, our government has taken unprecedented actions to tear down interprovincial trade barriers to ensure free trade and labour mobility within Canada.
Despite this milestone achievement, there is always more work to be done. In this time of economic war, our government will continue working tirelessly to protect Ontario’s jobs, workers, and economy.
NEW: Today in North Bay, the Ontario and Canadian governments announced a combined $4.5 million investment through the Canada-Ontario Community Housing Initiative.
This funding will support the development of a new, 60-unit affordable housing building on Brookes Street, helping secure critical housing capacity for residents in our community.
🏠: https://news.ontario.ca/en/bulletin/1007456/new-affordable-and-supportive-housing-coming-to-north-bay
@graydonthempp@mppaulinerochefort
Strengthening partnerships with our international allies is integral to building a more competitive and resilient economy here at home.
This morning, we joined Consul General Bertrand Pous and leaders from the France-Canada business community to discuss how we can build on Ontario’s $4.9B trade relationship with France and unlock new economic opportunities for workers in our shared industries. 🇨🇦🇫🇷
@francetoronto
It was a pleasure to meet with H.E. Bernardo Lucena, Portugal’s new Ambassador to Canada, and Ana Luísa dos Santos Gonçalves Riquito, Consul General of Portugal in Toronto.
We congratulated the Ambassador on his new appointment and discussed the importance of the CETA free trade agreement in supporting workers and businesses in both our jurisdictions, across sectors like life sciences and technology. 🇨🇦🇵🇹
From London to Waterloo to Toronto to Ottawa, our province’s tech sector is continuing to grow at an unprecedented pace.
Earlier this week, we spoke with Mike Stubbs from CFPL 980 about what our government is doing to attract new investments, spur innovation, and create the conditions for more job growth across the province.
It was an honour to attend the 23rd annual Life Sciences Ontario Celebration of Success Awards.
From nuclear medicine and biomanufacturing to AI-enabled research, Ontario continues to lead in global life sciences innovation.
Our sincere congratulations goes out to all of last night’s award recipients, whose contributions and cross-disciplinary collaborations are helping shape the success of this vital sector.
@tyler.allsopp.boq
A productive meeting with the Associated Equipment Distributors (AED).
AED members support key projects across both the Canadian and American construction, mining, forestry, and transportation sectors.
We discussed the actions being taken by our government to unlock new interprovincial trade opportunities for Ontario workers & businesses, and affirmed that we will continue to advocate for a mutually beneficial trade deal with the United States. 🇨🇦🇺🇸
This morning in Ajax, we joined Volkswagen Group Canada for a ribbon cutting to celebrate the completion of the first phase of their headquarters expansion.
With this project, Volkswagen will enhance its regional distribution centre capabilities to Canada, strengthening its service to customers and dealers, while building on the company’s storied history in Ontario’s automotive sector.
Every single day, we send Premier @fordnationdougford a new investment that is being made in Ontario.
We’ve done it for more than 2,000 days straight - sharing more than 2,000 different projects that have fueled our economy. Last month alone, those investments totalled $2.7 billion, creating 6,700 new jobs.
In these times of uncertainty, businesses from around the world recognize a simple truth: there is no better place to grow and create jobs than right here in Ontario.
Ontario’s 125-year legacy in the auto sector is a reflection of the grit and resilience of its workers and industry base.
At the @trbot Auto Summit, we underscored the actions being taken by our government to ensure that Ontario OEMs, suppliers, and workers continue to be positioned for generational success in the face of ongoing tariff pressures.
It was a pleasure to attend OBIO’s Queen’s Park Advocacy Day to meet with CEO Maura Campbell and their network of groundbreaking companies.
Organizations like OBIO play a critical role in advancing the commercialization of Ontario-made technologies and ensuring our life sciences ecosystem remains at the forefront of health innovation.
