Economic Action Plan 2013 Continues Focus on Jobs, Growth and Long-Term Prosperity

CAMBRIDGE, ONTARIO--(Marketwire - March 22, 2013) - The Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario, highlighted how Economic Action Plan 2013 will build on the Government of Canada's record of delivering results for Canadians at an event hosted by the Cambridge Chamber of Commerce.

"While Canada has the best job creation record among all G-7 countries since the worst of the global recession with over 950,000 net new jobs, we recognize that the global economy remains fragile," said Minister Goodyear. "In Economic Action Plan 2013, our Government remains focused on the number one priority of Canadians, with a forward-looking plan to help create jobs, growth and long-term prosperity in Ontario and across Canada."

Economic Action Plan 2013 builds on this success with important steps to position Canada for success in the 21^st-century global economy by:

• Increasing skills and training support, including the new $15,000 Canada Job Grant, to help more Canadians find high-quality, well-paying jobs;
• Helping manufacturers and businesses succeed in the global economy by enhancing the conditions for growth and innovation and extending 'hiring credit' for small businesses who create jobs;
• Introducing a new Building Canada Plan that will lead to better roads, bridges and public transit in cities and communities across Canada; and
• Investing in world-class research and innovation to help ensure new ideas are developed and transferred from laboratories into the marketplace.

Economic Action Plan 2013, also demonstrates the Government of Canada's continued commitment to hard-working Canadian families and communities in southern Ontario with the renewal of the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).

"This is great news for the workers, businesses and communities in southern Ontario," said Minister Goodyear. "With renewed funding, FedDev Ontario will continue to act as an investor, convenor and advocate to support the development of a prosperous and globally competitive southern Ontario economy by supporting innovation and commercialization, business growth, productivity and communities."

Since its launch in 2009, the Agency has made significant progress in creating jobs and growing the economy. However, southern Ontario remains under considerable pressure, and more than ever our businesses and workers need to be more innovative and productive, and strive to access new markets.

Economic Action Plan 2013 provides $920 million for FedDev Ontario over five years, starting on April 1, 2014.

As part of the renewal of the Agency, the Government of Canada will be allocating $200 million over five years for a new Advanced Manufacturing Fund in Ontario.

FedDev Ontario will also continue to promote business development, job creation and self-reliant communities in rural Eastern Ontario by extending the Eastern Ontario Development Program for five years.

FedDev Ontario supports the southern Ontario economy by building on the region's strengths and creating opportunities for jobs and economic growth. The Agency has launched a number of initiatives to create a Southern Ontario Advantage and place the region in a strong position to compete in the global economy. These initiatives are designed to encourage partnerships and support projects that help the region's businesses and communities become more competitive, innovative and diversified.

To learn more, please visit www.FedDevOntario.gc.ca or call 1-866-593-5505.

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IF THERE IS A DISCREPANCY BETWEEN ANY PRINTED VERSION AND THE ELECTRONIC VERSION OF THIS NEWS RELEASE, THE ELECTRONIC VERSION WILL PREVAIL.

This news release is available online at: www.FedDevOntario.gc.ca.