December 7, 2006

The Economic Stimulus Package

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To assist Ontario workers and communities most affected by slower growth in the economy, the government is allocating more than $190 million to promote additional job creation while strengthening the foundation for long-term prosperity.

This economic stimulus package is a key component of the government’s plan to encourage a stronger workforce and a stronger economy. 

First announced on October 26, in Ontario’s 2006 Fall Economic Outlook and Fiscal Review, the stimulus package aims to boost jobs and growth through a focus on four key areas:

• Targeted training and job services to help job-threatened and laid-off workers find new jobs, and enhanced bridge training and other services that help new Canadians.
• Fast-tracking infrastructure projects to generate immediate economic activity and job creation.
• Encouraging Ontario tourism to boost economic activity and tourism-related jobs.
• Strengthening interprovincial trade to match industrial needs in Alberta with Ontario’s industrial capacity.

New investments are specifically focused on jobs and local economic activity within some of the province’s most vulnerable communities and groups, with a strong link to economic growth potential. 

The government was guided by the following principles in developing the stimulus package:

• Support for communities and people that are feeling the impact of slower economic growth, through investments in skills and training programs for laid-off workers.
• Leverage local economic activity and growth potential to strengthen the Ontario economy.
• Stimulate economic activity in the short-term and target immediate priorities.
• Reduce infrastructure pressures and prolong asset life.

Investments will represent an immediate boost for Ontario’s most economically vulnerable workers and communities