The Ontario Technology Corridor Clean Technology Advantage.

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Presentation transcript:

The Ontario Technology Corridor Clean Technology Advantage

2  Canada’s clean technology sector is poised to grow 117% between 2010 and 2012 with Ontario a major growth centre  Ontario clean technology companies generate approximately $7 billion in revenue and employ over 65,000 people  Home to over 2,800 environmental industry companies in Ontario including: The Ontario Technology Corridor is the clean technology engine of Canada –Ottawa Region: Plasco Energy Group, waste conversion and energy generation –Toronto Region: Schneider Power, renewable energy projects, wind farms –London: Stein Industries, designer and manufacturer of 3-phase power step up transformers for wind turbine generators. –Waterloo Region: MacDonald Steel, large manufacturer of custom metal fabrication for wind and gas turbines –Niagara Region: DMI Canada, steel wind tower manufacturer –Hamilton Region: Biox Corporation, one of the largest continuous flow biodiesel production facilities in the world

3 GTA ~ London ~ Niagara ~ Ottawa ~ Waterloo  Under Ontario’s Green Energy Act feed-in tariff programs, 184 new contracts for manufacturing- intensive green-energy projects have been approved  510 medium-sized feed-in tariff projects have already been announced  The largest of these projects is a $7 billion dollar solar and wind investment by Samsung C&T and Korea Electric Power Ontario’s clean technology advantage includes deep advanced manufacturing capability  Each year, Ontario produces 29,000 graduates in the manufacturing-critical fields of math, engineering, and science  There are 73,000 highly skilled people working in Ontario’s advanced manufacturing and machinery industry

4 London Niagara Region London Niagara Hamilton The Ontario Technology Corridor Population: 8,918,285 Workforce: 4,950,000

5 Top 10 reasons to invest in Ontario 1. Stable, highly talented, motivated workforce 2. Access to the North American market (NAFTA) 3. Openness to diversity and multiculturalism 4. Economic engine of Canada 5. World class research institutions 6. Innovation leadership 7. Low risk business environment 8. Superior infrastructure 9. Business incentives 10. Quality of life

6 The Ontario Technology Corridor offers one of the world’s most educated populations

7 What this means for your tech company:  New market opportunities  New partnerships  New customers  New investors  New links in supply and production chains  New choices for consumers  Economic growth  High standards of living Ontario’s NAFTA advantage

8 Openness to diversity and multiculturalism

9  University of Waterloo  Wilfred Laurier University  University of Toronto  Ryerson University  York University  Brock University  University of Western Ontario (Western)  University of Ontario Institute of Technology  Ontario College of Art & Design (OCAD)  Carleton University  University of Ottawa  McMaster University  Conestoga College  Centennial College  George Brown College  Humber College  Seneca College  Sheridan College  Niagara College  Fanshawe College  Durham College  Algonquin College  La Cité collégiale  Mohawk College Ontario Technology Corridor has world class universities and colleges

10  University of Toronto ranked Canada’s top research- intensive university with 6 Nobel Prize-winning graduates  University of Waterloo ranked Canada’s #1 for “Best Overall”, “Most Innovative”, and “Leaders of Tomorrow” comprehensive university in Maclean’s Business Magazine 2009 survey.  The University of Western Ontario’s WindEEE Dome is the world’s first hexagonal wind tunnel with capability of simulating high intensity wind systems, including tornadoes, downbursts, etc.  Samsung C&T Corporation - Trading and Investment Group and the Korea Electric Power Corporation (KEPCO) have invested in $7 billion Ontario solar and wind energy project – the largest of its kind in the world Ontario Technology Corridor – home of the innovation society!

11 A strong fiscal position  Canada is experiencing 2 nd longest period of economic expansion in Canadian history, and has been reducing debt at a record rate Low Inflation and low interest rates  Over the past five years, Canada has enjoyed relatively low inflation – averaging 2.3% compared to 3.2% for the U.S. and 2.1% for the G7.  Canada’s targeted inflation rate range between 1% and 3% has been extended until 2011 A growing domestic economy  According the Prosperity Potential Index, Canada ranks 1 st in terms of the likelihood for economic prosperity in the year 2020  Canada is the best place for doing business in the G7 according to the Economist Intelligence Unit and it ranked fifth overall out of 82 countries in the global business rankings for the forecast period ( ) Ontario companies take advantage of Canada’s low-risk business and regulatory environment

Ottawa Macdonald- Cartier International Airport 12 Excellent infrastructure for business air travel Toronto Pearson International Airport London International Airport The Region of Waterloo International Airport Hamilton International Airport Toronto Billy Bishop City Centre Airport

13 Niagara’s border crossings are amongst the busiest in Canada Niagara is one of the busiest Canada-U.S. borders Niagara has four monumental crossing bridges. They rank 2 nd only to Kennedy International as the busiest point of entry between Canada and the US, the world’s largest trading relationship The Welland Canal offers direct shipping access from the Atlantic Ocean. It is an important traffic route for transporting large and heavy clean energy components

14 “The Better Way”  GO Transit is Canada's first, and Ontario's only, interregional public transit system, linking Toronto with the surrounding regions. The GO system carries more than 50 million passengers a year in an extensive network of train and bus services  The Corridor is a VIA Rail passenger train service area in the Canadian provinces of Quebec and Ontario  The Corridor service area has the heaviest passenger train frequency in Canada  The Toronto Transit Commission’s (TTC) subway system is linked with buses and streetcars that provides a one fare journey around Toronto, Markham, Richmond Hill, Vaughan, Mississauga, Aurora and Newmarket  The TTC carries approximately 1.5 million riders on an average business day and uses hybrid buses which use less fuel and have lower emissions than traditional diesel-fuel buses Ontario enjoys an established mass transit system

15 Ontario has the largest and busiest freeway network in Canada, consisting mainly of efficient 400-Series Highways and supplemented by municipal expressways The Port of Hamilton strategically connects major manufacturing, processing, transportation services and logistics expertise Ontario’s Road and Rail Network Well developed highway, rail, and shipping

16 The Ontario Technology network offers:  One of the most extensive telecommunication networks in North America  A highly integrated telecommunications network including: -The largest “free calling” area in North America (416/647/289/905) -100% Digital Telecom Infrastructure -High speed data services -Internet connectivity -Private lines -E-business services Highly integrated telecommunication networks Highly integrated telecommunications network

17 G-8’s most favourable tax treatment for R&D R&D savings vary by the size and type of corporation. For example, in 2010 the after-tax cost of a $100 R&D expenditure could range from $55.01 to as low as $36.72 for applicable research institutes.

18 SUPPORT PROGRAMS/INC ENTIVES CRITERIAHOW MUCH Ontario Business Research Institute Tax Credit (OBRITC) Must incur qualified expenditures in respect of scientific research and experimental development (SR&ED) under an eligible contract with an eligible research institute (ERI) 20% refundable tax credit for SR&ED expenditures incurred in Ontario under an eligible contract with an ERI. The maximum amount a corporation can claim is $4 million Ontario Innovation Tax Credit Must carry on eligible SR&ED in Ontario 10% refundable tax credit for qualifying. Can be combined with OBRITC (above) for a total of 30% Ontario Research and Development Expenditures Deduction Must carry on eligible SR&ED in Ontario Allows corporations to exclude from Ontario taxable income the portion of federal investment tax credit that relates to qualifying SR&ED expenditures through Ontario pool calculation on CT23 Schedule 161 Ontario R&D incentives at a glance

19 Ontario Media Development Corporation (OMDC) Ontario cleantech incentives at a glance SUPPORT PROGRAMS/INCEN TIVES CRITERIAHOW MUCH Ontario Power Authority Feed-in Tariff Program Large-scale solar and wind projects in Ontario. Solar projects over 10 kW, domestic content requirements are 50% prior to Jan. 1, 2011, 60% after. Wind projects over 10 kW: 25% prior to Jan. 2, 2012, 50% after Current pricing ranges from 10.3 Cdn ¢/kWh for landfill gas to 80.2 Cdn ¢/kWh for residential solar PV Ontario Emerging Technologies Fund Drives start-up investment in green technology/other high-tech businesses that meet domestic content requirements Up to $5 million initial investment to leverage private sector capital in clean technology Ontario Innovation Demonstration Fund For commercialization of innovative green technologies, with a focus on bio-products, hydrogen, environmental and alternative energy technologies Up to $4 million to help commercialize innovative technologies Ontario Power Authority Development Fund Assists innovative energy technologies that improve the supply and conservation of electricity, in the pre-commercial stage Up to $250,000 per project

20 Stable ~ Safe ~ Affordable ~ Cosmopolitan Excellent culture and sports facilities

21 Stable ~ Safe ~ Affordable ~ Cosmopolitan  Canada is a constitutional monarchy  Canada has a three-tiered system with Federal, Provincial, and Municipal levels of government  Municipal governments are under provincial jurisdiction and governed by an elected mayor and council Safe, stable, and well governed

22 Stable ~ Safe ~ Affordable ~ Cosmopolitan With low crime, little threat from instability or terrorism and highly developed infrastructure, Canada has the most liveable destinations in the world Economist Intelligence Unit (EIU) Great cities and towns offering a great life

23 Source: Mercer Human Resource Consulting, 2009 Index: New York City = 100 Very high quality of life