PCs And NDP Have No Plan To Help High-tech Firms
OTTAWA, Sept. 21, 2011 /CNW/ - Ontario Liberals will triple the number
of successful start-up companies in Ontario in the next five years,
Ottawa West-Nepean candidate, Bob Chiarelli said today.
"We're moving forward, together, with the next chapter of the Ontario
Liberal Plan, Chiarelli said, while visiting Magor Communications. He
was accompanied by Research and Innovation Minister Glen Murray, who
outlined details of the Ontario Liberal Plan, Forward. Together.
"We're going to triple the number of successful start-up companies in
Ontario in the next five years," said Murray, Liberal Candidate for
Toronto Centre. "We're creating incentives to ensure that innovative
companies have the capital they need to grow."
Since 2003, the McGuinty Government has invested over $120-million in
research initiatives and investment support in the Ottawa Region, which
has leveraged over $200-million in matching funds from the private
"We welcome this initiative from Dalton McGuinty and the Ontario
Liberals," said Mike Pascoe, President and CEO of Magor Communications,
a global leader in visual collaboration solutions. "As we have seen
with our own development, timely support in the early stages can result
in globally successful companies that drive job creation in Ontario."
Companies like Avaya; Best Theratronics; SiGe Semiconductor; Ciena
Canada and Cisco have partnered with Ontario within the past year to
support innovation, drive local investment and create hundreds of local
"Today's innovative industries, like biotech and the entertainment and
creative cluster, are creating jobs in exciting new fields," Chiarelli
said. "Ontario Liberals have been supporting growth in these fields and
will now take the next steps through Ontario's Innovation Agenda.
This strategy aims to make innovation the driving force of our economy,
to create good new jobs with the best-educated workforce. Ontario
Liberals have simplified our business tax system through reform, and
cut taxes on new business investment by 55 per cent.
The next steps include a tax credit for individual angel investors in
start-up companies as well as incentives for setting up Ontario-based
venture capital funds.
The Hudak PCs have $14 billion in unfunded giveaways and tax cuts that
would mean deep cuts to education and innovation. The Horwath NDP would
introduce a crushing $9 billion in job-killing taxes. Both would take
Ontario off track at the worst time.
"Ontario needs strong leadership and a strong team that will protect the
progress we've made and encourage innovation," Murray said. "Only
Dalton McGuinty and the Ontario Liberals have a plan to build
innovation and investment — and create good jobs."
SOURCE Ontario Liberal Party
For further information:
Ontario Liberal Party Media Office:
416 961-3800 ext. 328