ECONOMIC DEVELOPMENT PROGRAM - VOTE 902

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ECONOMIC DEVELOPMENT 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; attracting investment in strategic sectors, such as clean automotive and other green technology, health and biotechnology research and development, creative industries like digital media and information and communication technology, pharmaceutical research and manufacturing; improving government-to-business services and reducing the burden of government regulation on business through the enterprise-wide Open for Business initiative; creating greater opportunities for robust trade in Ontario through increased investment, innovation and reduced barriers to business; addressing regional needs and building regional/local economic development capacity; and providing assistance to Ontario communities and industry sectors facing economic development challenges.

VOTE SUMMARY
($)
ITEM # ITEM

Estimates
2009-10

Estimates
2008-09

Difference
Between
2009-10
and
2008-09

Actual
2007-08

  OPERATING EXPENSE  
11 Economic Development 309,696,300 354,066,900 (44,370,600) 351,259,950
  TOTAL OPERATING EXPENSE TO BE VOTED 309,696,300 354,066,900 (44,370,600) 351,259,950
Statutory Bad Debt Expense, the Financial Administration Act 2,250,000 2,000,000 250,000 518,021
  Total Statutory Appropriations 2,250,000 2,000,000 250,000 518,021
  Total Operating Expense 311,946,300 356,066,900 (44,120,600) 351,777,971
  OPERATING ASSETS        
8 Economic Development 124,941,700 147,878,400 (22,936,700) 51,958,415
  TOTAL OPERATING ASSETS TO BE VOTED 124,941,700 147,878,400 (22,936,700) 51,958,415
  Total Operating Assets 124,941,700 147,878,400 (22,936,700) 51,958,415
  CAPITAL EXPENSE        
7 Economic Development 1,000 - 1,000 28,780,000
  TOTAL CAPITAL EXPENSE TO BE VOTED 1,000 - 1,000 28,780,000
Statutory Amortization, the Financial Administration Act 1,000 - 1,000 -
  Total Statutory Appropriations 1,000 - 1,000 -
  Total Capital Expense 2,000 - 2,000 28,780,000
  CAPITAL ASSETS        
10 Economic Development 1,000 - 1,000 -
  TOTAL CAPITAL ASSETS TO BE VOTED 1,000 - 1,000 -
  Total Capital Assets 1,000 - 1,000 -



Standard Account by Item and Sub-items
($)
VOTE -ITEM
#
STANDARD ACCOUNT BY ITEM AND SUB-ITEMS      
  OPERATING EXPENSE  
902-11 Economic Development      
  Salaries and wages     9,231,400
  Employee benefits     1,170,600
  Transportation and communication     1,192,900
  Services     10,976,300
  Supplies and equipment     490,600
  Transfer payments      
     Advanced Manufacturing Investment Strategy - Interest Incentives   17,690,500  
     Communities in Transition   2,000,000  
     Eastern Ontario Development Fund   22,372,200  
     Grants in Support of Economic Development   100,000  
     Institute for Competitiveness and Prosperity   1,000,000  
     Next Generation of Jobs Fund   165,650,000  
     Next Generation of Jobs Fund - Interest Incentives   100,000  
     Ontario Automotive Investment Strategy Fund   77,429,200  
     Ontario Automotive Investment Strategy Fund - Interest Incentives   292,600 286,634,500
  Total Operating Expense to be Voted     309,696,300
  Statutory Appropriations      
  Other transactions      
Statutory    Bad Debt Expense, the Financial Administration Act     2,250,000
  Total Operating Expense for Economic Development Program     311,946,300
  OPERATING ASSETS      
902-8 Economic Development      
  Deposits and prepaid expenses     8,500,000
  Loans and Investments      
     Advanced Manufacturing Investment Strategy   100,000,000  
     Next Generation of Jobs Fund   15,000,000  
     Ontario Automotive Investment Strategy Fund   1,441,700 116,441,700
  Total Operating Assets to be Voted     124,941,700
  Total Operating Assets for Economic Development Program     124,941,700
  CAPITAL EXPENSE      
902-7 Economic Development      
  Other transactions     1,000
  Total Capital Expense to be Voted     1,000
  Statutory Appropriations      
  Other transactions      
Statutory    Amortization, the Financial Administration Act     1,000
  Total Capital Expense for Economic Development Program     2,000
  CAPITAL ASSETS      
902-10 Economic Development      
  Land and marine fleet     1,000
  Total Capital Assets to be Voted     1,000
  Total Capital Assets for Economic Development Program     1,000