Economic Growth For Mississauga Expected Through New Funding Initiative

The economy of southern Ontario is strong as its ever been, and its been described a a hallmark of the Canadian economy’s ability to stay globally competitive overall.

By looking to boost that strength up for the long term, FedDev Ontario announced through press release that it has received over $1 billion in funding, which will be used to foster growth in southern Ontario.

“With this new funding, FedDev Ontario will continue to scale-up innovative businesses, strengthen innovation networks, and boost economic growth in local communities to create good, middle-class jobs in one of Canada’s most vital economic hubs,” said Minister of Innovation, Science and Economic Development Navdeep Bains.

“By engaging directly with Canadians living and working in southern Ontario, we are ensuring FedDev Ontario’s investments will reflect the unique strengths and opportunities of this region,” he said.

The organization plans to help Canadians living and working in southern Ontario to take every available opportunity at their disposal, to drive innovation, and meet with businesses, industries, academia, Indigenous communities and organizations in urban and rural communities across southern Ontario.

FedDev Ontario is not only getting $1 billion in funding, but also $100 million dedicated to rural areas, which, the organization believes, will drive exponential growth in southern Ontario overall.

Southern Ontario was chosen as FedDev Ontario wanted to capitalize on one of Canada’s most vital economic hubs in three aspects; stimulate economic growth, create jobs and drive innovation.

The organization is also launching an engagement platform, giving southern Ontarians a direct avenue to provide ideas and feedback.

Specific questions will be posed, such as how to better encourage the participation of women, Indigenous, new Canadians, youth, and other underrepresented groups in the southern Ontario economy.  

A feedback form will be made available on the site, while the conversation can be followed on Twitter using #GrowSouthON.

Are you excited for these incoming developments, Mississauga?