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This program supports economic growth and job creation in Ontario by: attracting investment in key business clusters and sectors, and administering related funding programs; providing assistance to Ontario industry sectors and communities facing economic challenges; providing leadership in the development of economic policies across government; modernizing government and improving services to business through the enterprise-wide Open for Business initiative; promoting Ontario as a premier investment location and world class provider of goods and services; increasing Ontario’s trade by providing assistance to Ontario firms to begin exporting or expand into new markets; leveraging Ontario’s 10 International Marketing Centres and the Ontario Investment and Trade Centre to attract business immigrants, foreign companies and new investment to create jobs in key strategic sectors; supporting Ontario’s high-performing small and medium enterprises through 12 regional Business Advisory Services offices; providing programs and services that assist with business start-up and early stage growth through Ontario’s network of 57 Small Business Enterprise Centres; and promoting entrepreneurship as a viable career option among Ontario’s youth.

VOTE SUMMARY
($)
ITEM # ITEM

Estimates
2011-12

Estimates
2010-11

Difference
Between
2011-12
and
2010-11

Actual
2009-10

  OPERATING EXPENSE        
12 Economic Development and Trade 314,792,500 318,903,100 (4,110,600) 192,712,738
  TOTAL OPERATING EXPENSE TO BE VOTED 314,792,500 318,903,100 (4,110,600) 192,712,738
Statutory Bad Debt Expense, the Financial Administration Act 4,352,000 2,302,000 2,050,000 929,110
  Total Statutory Appropriations 4,352,000 2,302,000 2,050,000 929,110
  Total Operating Expense 319,144,500 321,205,100 (2,060,600) 193,641,848
  OPERATING ASSETS        
8 Economic Development 101,500,000 126,700,000 (25,200,000) 45,291,896
  TOTAL OPERATING ASSETS TO BE VOTED 101,500,000 126,700,000 (25,200,000) 45,291,896
  Total Operating Assets 101,500,000 126,700,000 (25,200,000) 45,291,896
  CAPITAL EXPENSE        
7 Economic Development 1,000 1,000 - -
  TOTAL CAPITAL EXPENSE TO BE VOTED 1,000 1,000 - -
Statutory Amortization, the Financial Administration Act 1,000 1,000 - -
  Total Statutory Appropriations 1,000 1,000 - -
  Total Capital Expense 2,000 2,000 - -
  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      
902-12 Economic Development and Trade      
  Salaries and wages     30,767,000
  Employee benefits     4,000,200
  Transportation and communication     4,122,700
  Services     50,299,300
  Supplies and equipment     1,698,400
  Transfer payments      
     Communities in Transition   1,000,000  
     Eastern Ontario Development Fund   15,800,000  
     Grants in Support of Economic Development   400,000  
     Institute for Competitiveness and Prosperity   1,000,000  
     Ontario Automotive Investment Strategy Fund   15,400,000  
     Grants in Support of Business Development   12,200,000  
     Student Entrepreneurship Experience - Summer Company   750,000  
     Youth Partnerships   1,380,500  
     Advanced Manufacturing Investment Strategy - Interest Incentives   7,390,000  
     Grants in Support of Trade and Investment   1,305,000  
     Next Generation of Jobs Fund   125,129,400  
     Next Generation of Jobs Fund - Interest Incentives   100,000  
     Strategic Jobs and Investment Fund   25,000,000  
     Strategic Jobs and Investment Fund - Interest Incentives   17,800,000 224,654,900
  Subtotal     315,542,500
  Less: Recoveries     750,000
  Total Operating Expense to be Voted     314,792,500
  Sub-Items:      
  Economic Development      
  Salaries and wages   8,639,900  
  Employee benefits   1,125,200  
  Transportation and communication   563,900  
  Services   4,007,900  
  Supplies and equipment   226,500  
  Transfer payments      
     Communities in Transition 1,000,000    
     Eastern Ontario Development Fund 15,800,000    
     Grants in Support of Economic Development 400,000    
     Institute for Competitiveness and Prosperity 1,000,000    
     Ontario Automotive Investment Strategy Fund 15,400,000 33,600,000 48,163,400
  Small and Medium Enterprise      
  Salaries and wages   8,471,600  
  Employee benefits   1,109,800  
  Transportation and communication   633,000  
  Services   8,936,000  
  Supplies and equipment   190,000  
  Transfer payments      
     Grants in Support of Business Development 12,200,000    
     Student Entrepreneurship Experience - Summer Company 750,000    
     Youth Partnerships 1,380,500 14,330,500  
  Subtotal   33,670,900  
  Less: Recoveries   750,000 32,920,900
  Trade and Investment      
  Salaries and wages   13,655,500  
  Employee benefits   1,765,200  
  Transportation and communication   2,925,800  
  Services   37,355,400  
  Supplies and equipment   1,281,900  
  Transfer payments      
     Advanced Manufacturing Investment Strategy - Interest Incentives 7,390,000    
     Grants in Support of Trade and Investment 1,305,000    
     Next Generation of Jobs Fund 125,129,400    
     Next Generation of Jobs Fund - Interest Incentives 100,000    
     Strategic Jobs and Investment Fund 25,000,000    
     Strategic Jobs and Investment Fund - Interest Incentives 17,800,000 176,724,400 233,708,200
  Total Operating Expense to be Voted     314,792,500
  Statutory Appropriations      
  Other transactions      
Statutory    Bad Debt Expense, the Financial Administration Act     4,352,000
  Total Operating Expense for Economic Development and Trade Program     319,144,500
  OPERATING ASSETS      
902-8 Economic Development      
  Deposits and prepaid expenses     500,000
  Loans and Investments      
     Advanced Manufacturing Investment Strategy   51,000,000  
     Strategic Jobs and Investment Fund   50,000,000 101,000,000
  Total Operating Assets to be Voted     101,500,000
  Total Operating Assets for Economic Development and Trade Program     101,500,000
  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 and Trade 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 and Trade Program     1,000