Ministry of Economic Development and Trade - THE ESTIMATES, 2006-07

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ECONOMIC DEVELOPMENT AND TRADE PROGRAM - VOTE 902

This program supports economic growth and job creation in Ontario by: providing leadership for the development of economic policies across the government; fostering innovation and entrepreneurship; promoting community, sector and cluster development; marketing Ontario as a premier investment location and working with investors to locate and expand in Ontario; attracting investment in strategic sectors, such as the automotive sector; increasing Ontario's global exports by working with Ontario small and medium-sized companies to expand their export potential worldwide; increasing Ontario's international profile through representation in key markets around the world; and providing a one window access for small business into the government to reduce barriers and expand opportunities. The program also manages the outstanding financial commitments for the Ontario Development Corporation.

VOTE SUMMARY
($)
ITEM # ITEM

Estimates
2006-07

Estimates
2005-06

Difference
Between
2006-07
and
2005-06

Actual
2004-05

  OPERATING EXPENSE        
1 Industry 241,974,500 343,117,200 (101,142,700) 20,882,598
4 Small and Medium Enterprise 22,620,900 23,107,700 (486,800) 10,886,073
9 Investment and Trade 61,282,200 60,133,600 1,148,600 31,228,937
6 The Ontario Development Corporation 638,600 590,300 48,300 920,082
  TOTAL OPERATING EXPENSE TO BE VOTED 326,516,200 426,948,800 (100,432,600) 63,917,690
Statutory Bad Debt Expense, the Financial Administration Act 1,000,000 - 1,000,000 -
  Total Statutory Appropriations 1,000,000 - 1,000,000 -
  Total Operating Expense 327,516,200 426,948,800 (99,432,600) 63,917,690
  OPERATING ASSETS        
8 Economic Development 68,940,000 88,440,000 (19,500,000) 1,590,725
  TOTAL OPERATING ASSETS TO BE VOTED 68,940,000 88,440,000 (19,500,000) 1,590,725
  Total Operating Assets 68,940,000 88,440,000 (19,500,000) 1,590,725
  CAPITAL EXPENSE        
7 Economic Development 168,900 2,164,200 (1,995,300) 4,991,313
  TOTAL CAPITAL EXPENSE TO BE VOTED 168,900 2,164,200 (1,995,300) 4,991,313
  Total Capital Expense 168,900 2,164,200 (1,995,300) 4,991,313



Standard Account by Item and Sub-items
($)
VOTE -ITEM
#
STANDARD ACCOUNT BY ITEM AND SUB-ITEMS      
  OPERATING EXPENSE      
902-1 Industry      
  Salaries and wages     6,208,000
  Employee benefits     807,000
  Transportation and communication     807,400
  Services     3,616,700
  Supplies and equipment     379,600
  Transfer payments      
     Grants in Support of Industry Development   100,000  
     Institute for Competitiveness and Prosperity   1,050,000  
     Interest Incentives - Advanced Manufacturing Investment Program   8,845,800  
     Interest Incentives - Ontario Automotive Investment Strategy Fund   6,710,000  
     Large Scale Strategic Investment Fund   9,150,000  
     Ontario Automotive Investment Strategy Fund   119,100,000  
     Strategic Manufacturing Investment   78,000,000  
     Strategic Skills Investment   7,200,000 230,155,800
  Total Operating Expense to be Voted     241,974,500
  Statutory Appropriations      
  Other transactions      
Statutory    Bad Debt Expense, the Financial Administration Act     1,000,000
902-4 Small and Medium Enterprise      
  Salaries and wages     7,307,500
  Employee benefits     950,000
  Transportation and communication     923,600
  Services     8,799,900
  Supplies and equipment     294,900
  Transfer payments      
     Grants in Support of Business Development   100,000  
     Ontario Small Brewers Strategy Fund   1,000,000  
     Ontario Wine Strategy Fund   2,000,000  
     Student Entrepreneurship Experience Program - Summer Company   750,000  
     Youth Partnerships   1,185,000 5,035,000
  Other transactions      
     Guarantees Honoured - Youth Entrepreneurship Program - My Company     60,000
  Subtotal     23,370,900
  Less: Recoveries     750,000
  Total Operating Expense to be Voted     22,620,900
902-9 Investment and Trade      
  Salaries and wages     10,401,300
  Employee benefits     1,352,200
  Transportation and communication     8,517,800
  Services     36,822,300
  Supplies and equipment     2,693,600
  Transfer payments      
     Go North   1,000,000  
     Grants in Support of Investment Development   100,000  
     Grants in Support of Trade Development   100,000  
     Urban Transportation Development Corporation   295,000 1,495,000
  Total Operating Expense to be Voted     61,282,200
902-6 The Ontario Development Corporation      
  Salaries and wages     75,600
  Employee benefits     9,900
  Transportation and communication     10,000
  Services     438,100
  Supplies and equipment     5,000
  Other transactions      
     Guarantees Honoured - Agency   100,000  
      - Direct   100,000 200,000
  Subtotal     738,600
  Less: Recoveries     100,000
  Total Operating Expense to be Voted     638,600
  Total Operating Expense for Economic Development and Trade Program     327,516,200
  OPERATING ASSETS      
902-8 Economic Development      
  Advances and recoverable amounts      
     Strategic Skills Investment     1,440,000
  Loans and Investments      
     Advanced Manufacturing Investment Program   50,000,000  
     Ontario Automotive Investment Strategy Fund   17,500,000 67,500,000
  Total Operating Assets to be Voted     68,940,000
  Total Operating Assets for Economic Development and Trade Program     68,940,000
  CAPITAL EXPENSE      
902-7 Economic Development      
  Transfer payments      
     Connect Ontario     168,900
  Total Capital Expense to be Voted     168,900
  Total Capital Expense for Economic Development and Trade Program     168,900