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 clean automotive and other green technologies, health and biotechnology research and development, creative industries like digital media and information and communication technologies, pharmaceutical research and manufacturing; 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.

VOTE SUMMARY
($)
ITEM # ITEM

Estimates
2008-09

Estimates
2007-08

Difference
Between
2008-09
and
2007-08

Actual
2006-07

  OPERATING EXPENSE        
1 Industry and Cluster 354,196,900 318,489,700 35,707,200 116,905,978
9 Investment and Trade 64,698,500 58,121,500 6,577,000 42,285,327
  Total Including Special Warrants 418,895,400 376,611,200 42,284,200 159,191,305
Less: Special Warrants - 227,275,000 (227,275,000) -
  TOTAL OPERATING EXPENSE TO BE VOTED 418,895,400 149,336,200 269,559,200 159,191,305
Special Warrants - 227,275,000 (227,275,000) -
Statutory Bad Debt Expense, the Financial Administration Act 2,000,000 2,000,000 - 213,264
  Total Statutory Appropriations 2,000,000 2,000,000 - 213,264
  Total Operating Expense 420,895,400 378,611,200 42,284,200 159,404,569
  OPERATING ASSETS        
8 Economic Development 147,878,400 127,575,500 20,302,900 37,006,348
  Total Including Special Warrants 147,878,400 127,575,500 20,302,900 37,006,348
Less: Special Warrants - 70,000,000 (70,000,000) -
  TOTAL OPERATING ASSETS TO BE VOTED 147,878,400 57,575,500 90,302,900 37,006,348
Special Warrants - 70,000,000 (70,000,000) -
  Total Operating Assets 147,878,400 127,575,500 20,302,900 37,006,348
  CAPITAL EXPENSE        
7 Economic Development - 33,780,000 (33,780,000) 20,000,000
  Total Including Special Warrants - 33,780,000 (33,780,000) 20,000,000
Less: Special Warrants - 6,000,000 (6,000,000) -
  TOTAL CAPITAL EXPENSE TO BE VOTED - 27,780,000 (27,780,000) 20,000,000
Special Warrants - 6,000,000 (6,000,000) -
  Total Capital Expense - 33,780,000 (33,780,000) 20,000,000



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     8,572,800
  Employee benefits     1,077,300
  Transportation and communication     1,117,900
  Services     15,760,400
  Supplies and equipment     455,600
  Transfer payments      
     Advanced Manufacturing Investment Strategy - Interest Incentives   17,690,500  
     Grants in Support of Industry Development   100,000  
     Institute for Competitiveness and Prosperity   1,000,000  
     Large Scale Strategic Investment Fund   5,016,400  
     Next Generation of Jobs Fund   125,900,000  
     Next Generation of Jobs Fund - Interest Incentives   100,000  
     Ontario Automotive Investment Strategy Fund   108,327,000  
     Ontario Automotive Investment Strategy Fund - Interest Incentives   24,147,000  
     Regional and Local Economy Transformation Strategy   2,000,000  
     Strategic Manufacturing Investment   40,832,000  
     Strategic Skills Investment   2,100,000 327,212,900
  Total Operating Expense to be Voted     354,196,900
  Statutory Appropriations      
  Other transactions      
Statutory    Bad Debt Expense, the Financial Administration Act     2,000,000
902-9 Investment and Trade      
  Salaries and wages     11,574,200
  Employee benefits     1,461,500
  Transportation and communication     6,708,400
  Services     42,284,200
  Supplies and equipment     2,470,200
  Transfer payments      
     Grants in Support of Investment and Trade Development     200,000
  Total Operating Expense to be Voted     64,698,500
  Total Operating Expense for Economic Development and Trade Program     420,895,400
  OPERATING ASSETS      
902-8 Economic Development      
  Deposits and prepaid expenses     6,100,000
  Loans and Investments      
     Advanced Manufacturing Investment Strategy   100,000,000  
     Next Generation of Jobs Fund   12,500,000  
     Ontario Automotive Investment Strategy Fund   29,278,400 141,778,400
  Total Operating Assets to be Voted     147,878,400
  Total Operating Assets for Economic Development and Trade Program     147,878,400