Here’s How To Improve The Manufacturing Industry In Ontario
Last week the Metals Service Center Institute’s partners at the Canadian Manufacturers and Exporters (CME), issued a report that outlines how to revitalize the manufacturing industry in Ontario. Ontario manufacturers are at the forefront of global competition, innovation, and technological change, but to compete globally, they require a business climate that is equally world class.
CME says that, today, Ontario is missing out on the opportunities created by modern advanced manufacturing and argues manufacturers are also losing ground to international competitors that have been moving aggressively to attract investment, create high-paying jobs, and grow their value-added manufacturing base. High production costs and unsupportive government policies are driving investment and jobs out of the province.
CME’s report aims to reverse these trends, creating the conditions to support the doubling of manufacturing output in Ontario to $600 billion by 2030. The initiative focuses on the critical needs of Ontario’s manufacturing sector, including:
- Creating a competitive business environment that, through tax and regulatory reform and lower electricity prices, reduces business costs and encourages growth and production;
- Addressing current skill shortages by improving technical skills training of youth and increasing support for industry-led training and skills-development initiatives; and
- Introducing policies and support programs to assist companies with scale-up, technology adoption, and product commercialization.
Click here to read CME’s detailed report and recommendations.