Shandong-Ontario Investment Cooperation Seminar Presentation by Wendy Tilford, Deputy Minister Ontario Ministry of Research and Innovation, and Ministry of Economic Development, Trade and Employment June 4, 2014 Your Next Big Idea
Ontario-China Partnership Ontario and China have a long-standing relationship: • Investment • Trade • Research collaboration • Educational exchanges • Cultural ties 2 Your Next Big Idea
Trade Relationship Growing China is Ontario’s – and Canada’s – second-largest trading partner In 2013, two-way trade between Ontario and China totalled close to $32 billion Two-way trade between 2009 and 2013 up by more than 33% Let’s keep growing our partnership… 3 Your Next Big Idea
Preferred Investment Location Just some of the Chinese companies investing in Ontario … 4 Your Next Big Idea
Ontario and China – Long-term Commitment Shanghai office Beijing office opened in 2002 opened in 2007 Yijun Song Philip Wong Senior Economic Officer Senior Economic Officer 5 Your Next Big Idea
Value-added Gateway to North American Markets 139 million consumers within a day’s drive 6 Your Next Big Idea
Highest Education Rates among the OECD Countries Post-secondary Educational Attainment (%), Select Markets, 2011 (Age 25-64) Ontario 64 Canada 62 Overall, 64% of Ireland 50 Ontario’s Japan 44 population has completed United States 41 post-secondary United Kingdom 38 education Germany 35 France 30 Mexico 17 Note: Not all jurisdictions count apprenticeship as post-secondary education Sources: Statistics Canada and OECD, 2013 7 Your Next Big Idea
Research and Development Advantages More than $13.9 billion in Ontario- based R&D each year Over 100,000 people directly engaged in R&D Steady stream of new talent from 44 universities and colleges One of the most generous R&D tax incentive programs in the world 8 Your Next Big Idea
Business Costs Lower than the United States Overall Business Costs Index (US=100) United Kingdom 94.5 Netherlands 94.7 Ontario 95.8 France 96.1 97.9 Italy United States 100.0 Germany 100.1 Australia 103.7 Japan 109.4 Source: MEDI analysis, prepared using competitivealternatives.com Cost Model, 2012 version, accessed on March 30, 2012 9 Your Next Big Idea
Strong Public Health System 10 10 Employer Health Costs for a Typical Firm 1,000 939 800 Average cost Thousands US$ to employers 600 in the US is 452 about twice as much as it is 400 in Ontario 200 US Ontario 0 Note: Typical firm defined as having approximately 93 employees Source: MMK Consulting, 2012 (Special run for MEDTE/MRI) 10 Your Next Big Idea
Reliable and Modern Infrastructure 11 11 11 Your Next Big Idea
Diverse population – with more than 640,000 Ontarians of Chinese origin 12 12 Select Languages Spoken by Ontarians French 1,426,540 685,193 Major languages spoken in India Major Chinese languages 499,380 Italian 251,330 Spanish 178,335 Portuguese 147,723 German 140,315 Filipino 140,805 Arabic 133,390 Polish 128,440 Russian 93,080 0 500,000 1,000,000 1,500,000 Ontario’s population in 2012 was 13.5 million Source: Statistics Canada. 2013. National Household Survey (NHS) 12 Your Next Big Idea
Diverse Economic Strengths A leader in North America: Among the top producer of vehicles Second largest ICT sector Second largest financial services sector Third largest digital media sector Second largest health sciences and biotechnology sector Third largest food processing sector A vibrant cleantech sector, with particular expertise in water technologies Worldwide reputation for design, construction and operation of green buildings 13 Your Next Big Idea
Ontario – leading tourism destination Natural beauty, dynamic cities and warm culture Canada’s leading tourism region – over half of international visits Chinese government extended Approved Destination Status (ADS) to Canada in June 2010 Tourism supports approximately 347,000 jobs and generates over $28 billion for Ontario’s economy 14 Your Next Big Idea
Welcome to Ontario! www.ontario.ca/innovation www.ontario.ca/economy 15 Your Next Big Idea
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