MAIN HEADING: ECONOMIC DEVELOPMENT AND INNOVATION PROGRAM - VOTE 902

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This program supports economic growth, job creation and innovation for a stronger Ontario by: promoting Ontario as a premier investment and innovation location and world class provider of goods and services; providing funding and assistance to emerging growth companies, small and medium enterprises and domestic and multi-national firms, research and researchers working across Ontario; delivering skills development, business development and commercialization programs focusing on key sectors and communities facing economic challenges; creating a broad awareness of the excellence and success in research and innovation across Ontario; attracting investment and world-class talent; connecting innovators and entrepreneurs across the province to enhance the economic competitiveness and growth of Ontario businesses and research entities; and by enhancing commercialization by providing an opportunity for ideas developed in labs to make their way into the marketplace.

VOTE SUMMARY
($)
ITEM # ITEM

Estimates
2012-13

Estimates
2011-12

Difference
Between
2012-13
and
2011-12

Actual
2010-11
  OPERATING EXPENSE        
13 Economic Development and Innovation 929,431,600 930,307,100 (875,500) 815,315,394
  TOTAL OPERATING EXPENSE TO BE VOTED 929,431,600 930,307,100 (875,500) 815,315,394
Statutory Bad Debt Expense, the Financial Administration Act 2,516,000 4,352,000 (1,836,000) 1,269,442
  Total Statutory Appropriations 2,516,000 4,352,000 (1,836,000) 1,269,442
  Total Operating Expense 931,947,600 934,659,100 (2,711,500) 816,584,836
  OPERATING ASSETS        
14 Economic Development and Innovation 68,506,000 105,827,000 (37,321,000) 58,797,527
  TOTAL OPERATING ASSETS TO BE VOTED 68,506,000 105,827,000 (37,321,000) 58,797,527
  Total Operating Assets 68,506,000 105,827,000 (37,321,000) 58,797,527
  CAPITAL EXPENSE        
21 Economic Development and Innovation 108,709,000 69,986,000 38,723,000 67,269,721
  TOTAL CAPITAL EXPENSE TO BE VOTED 108,709,000 69,986,000 38,723,000 67,269,721
Statutory Amortization, the Financial Administration Act 1,000 2,000 (1,000) -
  Total Statutory Appropriations 1,000 2,000 (1,000) -
  Total Capital Expense 108,710,000 69,988,000 38,722,000 67,269,721
  CAPITAL ASSETS        
22 Economic Development and Innovation 1,000 2,000 (1,000) -
  TOTAL CAPITAL ASSETS TO BE VOTED 1,000 2,000 (1,000) -
  Total Capital Assets 1,000 2,000 (1,000) -


Standard Account by Item and Sub-items
($)
VOTE -ITEM
#		 STANDARD ACCOUNT BY ITEM AND SUB-ITEMS      
  OPERATING EXPENSE      
902-13 Economic Development and Innovation      
  Salaries and wages     45,090,900
  Employee benefits     5,609,400
  Transportation and communication     5,031,400
  Services     48,810,000
  Supplies and equipment     2,222,100
  Transfer payments      
     Communities in Transition   1,000,000  
     Eastern Ontario Development Fund   14,519,300  
     Grants in Support of Economic Development   400,000  
     Institute for Competitiveness and Prosperity   1,000,000  
     Ontario Automotive Investment Strategy Fund   3,980,000  
     Southwestern Ontario Development Fund   4,000,000  
     Business Ecosystem Support Fund   16,731,300  
     Centre for Research and Innovation in the Bio-economy   4,060,000  
     Commercialization and Innovation Network Support   59,890,000  
     Grants in Support of Innovation and Commercialization   122,300  
     Innovation Demonstration Fund   17,388,500  
     Innovation Demonstration Fund - Interest Incentives   100,000  
     International Collaborations   2,693,500  
     Next Generation Baycrest Initiative   4,700,000  
     Next Generation of Jobs Fund - Biopharmaceutical Investment Program   9,185,300  
     Ontario Emerging Technologies Fund   49,000,000  
     Ontario Life Sciences Commercialization Strategy   1,500,000  
     Water Technology Acceleration Project   3,375,000  
     Business Research Institution Tax Credit*   9,761,400  
     Grants in Support of Science and Research   4,457,300  
     Ontario Brain Institute   7,560,000  
     Ontario Innovation Tax Credit*   240,546,700  
     Ontario Institute for Cancer Research   89,800,000  
     Ontario Research Fund   71,238,000  
     Perimeter Institute   5,000,000  
     Renewable Energy Project   300,000  
     Research Talent Programs   3,811,000  
     Science and Technology Connections and Partnerships   334,800  
     Windsor Institute for Diagnostic Imaging Research   1,341,000  
     Grants in Support of Business Development   10,400,000  
     Ontario Small Beer Manufacturer Tax Credit   5,000,000  
     Student Entrepreneurship Experience - Summer Company   900,000  
     Youth Partnerships   1,380,500  
     Advanced Manufacturing Investment Strategy - Interest Incentives   740,000  
     Grants in Support of Trade and Investment   405,000  
     Next Generation of Jobs Fund   94,200,000  
     Next Generation of Jobs Fund - Interest Incentives   100,000  
     Strategic Jobs and Investment Fund   73,529,800  
     Strategic Jobs and Investment Fund - Interest Incentives   9,320,000 823,770,700
  Subtotal     930,534,500
  Less: Recoveries     1,102,900
  Total Operating Expense to be Voted     929,431,600
  Sub-Items:      
  Economic Development      
  Salaries and wages   9,441,000  
  Employee benefits   1,175,800  
  Transportation and communication   363,000  
  Services   2,913,000  
  Supplies and equipment   353,800  
  Transfer payments      
     Communities in Transition 1,000,000    
     Eastern Ontario Development Fund 14,519,300    
     Grants in Support of Economic Development 400,000    
     Institute for Competitiveness and Prosperity 1,000,000    
     Ontario Automotive Investment Strategy Fund 3,980,000    
     Southwestern Ontario Development Fund 4,000,000 24,899,300 39,145,900
  Innovation and Commercialization      
  Salaries and wages   6,044,000  
  Employee benefits   749,800  
  Transportation and communication   240,000  
  Services   4,222,000  
  Supplies and equipment   222,500  
  Transfer payments      
     Business Ecosystem Support Fund 16,731,300    
     Centre for Research and Innovation in the Bio-economy 4,060,000    
     Commercialization and Innovation Network Support 59,890,000    
     Grants in Support of Innovation and Commercialization 122,300    
     Innovation Demonstration Fund 17,388,500    
     Innovation Demonstration Fund - Interest Incentives 100,000    
     International Collaborations 2,693,500    
     Next Generation Baycrest Initiative 4,700,000    
     Next Generation of Jobs Fund - Biopharmaceutical Investment Program 9,185,300    
     Ontario Emerging Technologies Fund 49,000,000    
     Ontario Life Sciences Commercialization Strategy 1,500,000    
     Water Technology Acceleration Project 3,375,000 168,745,900  
  Subtotal   180,224,200  
  Less: Recoveries   202,900 180,021,300
  Science and Research      
  Salaries and wages   4,578,500  
  Employee benefits   567,500  
  Transportation and communication   220,000  
  Services   1,500,900  
  Supplies and equipment   134,000  
  Transfer payments      
     Business Research Institution Tax Credit* 9,761,400    
     Grants in Support of Science and Research 4,457,300    
     Ontario Brain Institute 7,560,000    
     Ontario Innovation Tax Credit* 240,546,700    
     Ontario Institute for Cancer Research 89,800,000    
     Ontario Research Fund 71,238,000    
     Perimeter Institute 5,000,000    
     Renewable Energy Project 300,000    
     Research Talent Programs 3,811,000    
     Science and Technology Connections and Partnerships 334,800    
     Windsor Institute for Diagnostic Imaging Research 1,341,000 434,150,200 441,151,100
  Small and Medium Enterprise      
  Salaries and wages   9,113,000  
  Employee benefits   1,130,700  
  Transportation and communication   425,000  
  Services   7,975,400  
  Supplies and equipment   273,700  
  Transfer payments      
     Grants in Support of Business Development 10,400,000    
     Ontario Small Beer Manufacturer Tax Credit 5,000,000    
     Student Entrepreneurship Experience - Summer Company 900,000    
     Youth Partnerships 1,380,500 17,680,500  
  Subtotal   36,598,300  
  Less: Recoveries   900,000 35,698,300
  Trade and Investment      
  Salaries and wages   15,914,400  
  Employee benefits   1,985,600  
  Transportation and communication   3,783,400  
  Services   32,198,700  
  Supplies and equipment   1,238,100  
  Transfer payments      
     Advanced Manufacturing Investment Strategy - Interest Incentives 740,000    
     Grants in Support of Trade and Investment 405,000    
     Next Generation of Jobs Fund 94,200,000    
     Next Generation of Jobs Fund - Interest Incentives 100,000    
     Strategic Jobs and Investment Fund 73,529,800    
     Strategic Jobs and Investment Fund - Interest Incentives 9,320,000 178,294,800 233,415,000
  Total Operating Expense to be Voted     929,431,600
  Statutory Appropriations      
  Other transactions      
Statutory    Bad Debt Expense, the Financial Administration Act     2,516,000
  Total Operating Expense for Economic Development and Innovation Program     931,947,600
  OPERATING ASSETS      
902-14 Economic Development and Innovation      
  Deposits and prepaid expenses     504,000
  Loans and Investments      
     Advanced Manufacturing Investment Strategy   8,000,000  
     Strategic Jobs and Investment Fund   60,000,000  
     Innovation Demonstration Fund   1,000  
     Next Generation of Jobs Fund   1,000 68,002,000
  Total Operating Assets to be Voted     68,506,000
  Total Operating Assets for Economic Development and Innovation Program     68,506,000
  CAPITAL EXPENSE      
902-21 Economic Development and Innovation      
  Transfer payments      
     Minor Capital Investments   559,000  
     Ontario Research Fund   78,149,000  
     Research and Learning Tower Project   30,000,000 108,708,000
  Other transactions     1,000
  Total Capital Expense to be Voted     108,709,000
  Statutory Appropriations      
  Other transactions      
Statutory    Amortization, the Financial Administration Act     1,000
  Total Capital Expense for Economic Development and Innovation Program     108,710,000
  CAPITAL ASSETS      
902-22 Economic Development and Innovation      
  Land and marine fleet     1,000
  Total Capital Assets to be Voted     1,000
  Total Capital Assets for Economic Development and Innovation Program     1,000

* Subject to the enactment of the Schedule 66 of the proposed Strong Action for Ontario Act (Budget Measures), 2012.

 

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