OSHAWA, ON, June 19 /CNW/ - Ontario Premier Dalton McGuinty announced the
Ontario government will set up a fund of up to $650 million for the
development of Ontario-built green cars and parts. The Next Generation Jobs
Fund was announced during a speech at the General Motors assembly plant in
Oshawa on June 19. The money is to be spent on developing hybrid and
fuel-efficient technology as well as energy-efficient parts for larger
vehicles to allow Ontario auto producers to remain competitive.
CAW president Buzz Hargrove hailed the announcement as good news for the
automotive industry, the province's economy and the environment. He commended
the Ontario government for taking aggressive action in leading the way in
encouraging the development of more fuel efficient vehicles while boosting
"Domestic auto producers will now be able to develop more fuel-efficient
engines and lighter materials here in Ontario, which wouldn't have been
possible otherwise," said Hargrove. "Governments must work with industry to
create jobs while still protecting the environment."
The five-year Next Generation Jobs Fund will be modeled after the
province's $500 million Ontario Automotive Investment Strategy which has seen
more than $400 million go into development projects at Ford, General Motors,
DaimlerChrysler and various auto-parts suppliers since its inception in 2004.
The fund has generated $7 billion in auto investment - the Ontario
government is hopeful the Next Generation Jobs Fund will do likewise. The new
initiative will replace the former auto investment strategy.
For further information:
For further information: Shannon Devine, CAW Communications, (416)