ECONOMIC DEVELOPMENT AND TRADE PROGRAM - VOTE 902

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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; 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; and increasing Ontario's international profile through representation in key markets around the world. The program also manages the outstanding financial commitments for the Ontario Development Corporation.

VOTE SUMMARY
($)
ITEM # ITEM

Estimates
2007-08

Estimates
2006-07

Difference
Between
2007-08
and
2006-07

Actual
2005-06

  OPERATING EXPENSE        
1 Industry and Cluster 237,369,700 241,974,500 (4,604,800) 122,432,578
9 Investment and Trade 58,121,500 61,282,200 (3,160,700) 35,544,856
6 The Ontario Development Corporation 355,300 638,600 (283,300) 577,025
  Total Including Special Warrants 295,846,500 303,895,300 (8,048,800) 158,554,459
Less: Special Warrants 227,275,000 - 227,275,000 -
  TOTAL OPERATING EXPENSE TO BE VOTED 68,571,500 303,895,300 (235,323,800) 158,554,459
Special Warrants 227,275,000 - 227,275,000 -
Statutory Bad Debt Expense, the Financial Administration Act 2,000,000 1,000,000 1,000,000 -
  Total Statutory Appropriations 2,000,000 1,000,000 1,000,000 -
  Total Operating Expense 297,846,500 304,895,300 (7,048,800) 158,554,459
  OPERATING ASSETS        
8 Economic Development 127,575,500 68,941,000 58,634,500 90,413,845
  Total Including Special Warrants 127,575,500 68,941,000 58,634,500 90,413,845
Less: Special Warrants 70,000,000 - 70,000,000 -
  TOTAL OPERATING ASSETS TO BE VOTED 57,575,500 68,941,000 (11,365,500) 90,413,845
Special Warrants 70,000,000 - 70,000,000 -
  Total Operating Assets 127,575,500 68,941,000 58,634,500 90,413,845
  CAPITAL EXPENSE        
7 Economic Development 6,000,000 20,000,000 (14,000,000) -
  Total Including Special Warrants 6,000,000 20,000,000 (14,000,000) -
Less: Special Warrants 6,000,000 - 6,000,000 -
  TOTAL CAPITAL EXPENSE TO BE VOTED - 20,000,000 (20,000,000) -
Special Warrants 6,000,000 - 6,000,000 -
  Total Capital Expense 6,000,000 20,000,000 (14,000,000) -



Standard Account by Item and Sub-items
($)
VOTE -ITEM
#
STANDARD ACCOUNT BY ITEM AND SUB-ITEMS      
  OPERATING EXPENSE      
902-1 Industry and Cluster      
  Salaries and wages     6,614,100
  Employee benefits     823,300
  Transportation and communication     807,400
  Services     3,180,600
  Supplies and equipment     379,600
  Transfer payments      
     Grants in Support of Industry Development   100,000  
     Institute for Competitiveness and Prosperity   1,000,000  
     Interest Incentives - Advanced Manufacturing Investment Strategy   17,690,500  
     Interest Incentives - Ontario Automotive Investment Strategy Fund   25,265,700  
     Large Scale Strategic Investment Fund   12,057,600  
     Ontario Automotive Investment Strategy Fund   102,750,900  
     Regional and Local Economy Transformation Strategy   2,000,000  
     Strategic Manufacturing Investment   61,500,000  
     Strategic Skills Investment   3,200,000 225,564,700
  Total Operating Expense     237,369,700
  Statutory Appropriations      
  Other transactions      
Statutory    Bad Debt Expense, the Financial Administration Act     2,000,000
902-9 Investment and Trade      
  Salaries and wages     10,872,100
  Employee benefits     1,379,600
  Transportation and communication     6,708,400
  Services     36,196,200
  Supplies and equipment     2,470,200
  Transfer payments      
     Grants in Support of Investment and Trade Development   200,000  
     Urban Transportation Development Corporation   295,000 495,000
  Total Operating Expense     58,121,500
902-6 The Ontario Development Corporation      
  Salaries and wages     77,100
  Employee benefits     10,100
  Transportation and communication     10,000
  Services     253,100
  Supplies and equipment     5,000
  Other transactions      
     Guarantees Honoured - Agency     100,000
  Subtotal     455,300
  Less: Recoveries     100,000
  Total Operating Expense     355,300
  Total Operating Expense for Economic Development and Trade Program     297,846,500
  OPERATING ASSETS      
902-8 Economic Development      
  Deposits and prepaid expenses     1,000
  Loans and Investments      
     Advanced Manufacturing Investment Strategy   100,000,000  
     Ontario Automotive Investment Strategy Fund   27,574,500 127,574,500
  Total Operating Assets     127,575,500
  Total Operating Assets for Economic Development and Trade Program     127,575,500
  CAPITAL EXPENSE      
902-7 Economic Development      
  Transfer payments      
     University of Toronto     6,000,000
  Total Capital Expense     6,000,000
  Total Capital Expense for Economic Development and Trade Program     6,000,000