SOUTHERN ONTARIO

Political/Economic/Cultural Impacts on Southern Ontario



Political/Economic/Cultural Impacts on Southern Ontario

Thesis Statement

Ontario is a city of Canada which is on the verge of becoming potentially Canada's most important entrepreneur city focusing on Health Care, Technology orientation and industrial production in the city. The south Ontario Development Program has been established to promote financial development, financial diversification and job creation. As a centre program, it will consign close to $100 million in funding over 2009-10.

Introduction

Southern Ontario is a district of the province of Ontario, Canada. Depending on the enclosure of the Parry Sound and Muskoka districts, its surface area would cover between 14 to 15% of the province. It is the southernmost district of Canada.

Small and medium-sized enterprises in Southern Ontario will have greater access to venture capital money, thanks to a new investment announced today by the Honorable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).

“This buying into will give new and growing businesses the opportunity to elaborate and conceive jobs,” said Minister of State Goodyear. “As Canada emerges from the global recession, providing firms with more access to venture capital money will also help lead to greater prosperity in Southern Ontario.” (Chapman, Putnam, 2007)

Discussion

“Canada needs entrepreneurs who can turn new concepts and technology into attractive goods and thriving companies,” said Jacques Simoneau, Executive Vice President, Investments, at the enterprise Development Bank of Canada (BDC). “The funding that is being made accessible today by the Government of Canada will strengthen the BDC's efforts to help deserving Canadian high-tech projects in south Ontario in the current economy.” (Chapman, Putnam, 2007)

FedDev Ontario will provide $50 million to the BDC, including $35 million in capital to place direct investments in early-stage firms in south Ontario and $15 million to invest in Ontario-based project capital focused on Ontario-based opportunities.

As part of its decision-making method, the BDC will collaborate with the Ontario project Capital finance, which is a partnership between the Ontario government, the BDC, the Ontario Municipal Employees Retirement scheme Capital Partners, RBC Capital Partners, Manulife Financial, and TD Bank Financial assembly and is managed by TD Capital personal Equity Investors.

The BDC's project capital investments support the development of high-potential Canadian technology businesses and help cultivate them into globally focused, growth-oriented companies. The BDC's focused equity investments cover every stage of a company's development cycle, from pre-seed through expansion. Investments goal multiple sectors: Information and connection Technologies (IT and Telecommunications), Life Sciences (Drug breakthrough and health Technologies), and Energy (Environment, Electronics and Materials).

In Canada's financial Action Plan, the Government of Canada committed to supplying short-term incentive to communities hard-hit by the recession while delivering long-term funding designed to encourage financial development, job creation and innovation. Budget 2009 supplied $1 billion over five years for a new economic development bureau for Southern Ontario.

On August 13, 2009, Major Minister Stephen Harper formally launched the government financial Development bureau for south Ontario (FedDev Ontario). This new agency is charged with delivering federal government economic development programs tailored ...