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Ontario Premier Doug Ford’s government is prepared to invest in “anchor” companies as part of its plan to help the province’s economy recover from the COVID-19 crisis.
A new investment-attraction agency, Invest Ontario, will both tout the province as a place for companies to set up shop and make investments itself if necessary, Vic Fedeli, the economic development minister, said in an interview.
“Wherever there is a gap, that’s where we need to work closely with those individual businesses, show them the advantages of Ontario,” he said. “And we are looking for game-changing investments that we may make in some of those anchor companies, if it helps us create jobs for Ontario for the long run.”
The new “one stop shop” for businesses and investors was announced last week along with an omnibus piece of legislation, the COVID-19 Economic Recovery Act, which the government has framed as a bill that will pave the way for a provincial rebound.
