Ontario Budget 2019 Ushers in Program Review and Expansion

Ontario Budget 2019 primarily focused on reviewing and expanding existing incentive programs for Ontario businesses, but did contain a selection of new programs, including $40M for the automotive sector.

Moving forward, Ontario business incentives will target four key economic priorities: (1) talent; (2) research and commercialization; (3) entrepreneurship and growth; and (4) investment attraction. While details on how this will affect programs will only be released this fall, the Government did include highlights on several new measures for businesses in its Budget.

Simply scroll down to read Fundingportal: Ontario Budget Issue, 2019 and use the links below to learn more about how your organization can successfully apply to funding programs:

  • Order a Custom Report on the right grants and incentives for your organization
  • Register for our Alerts service to stay informed about your key funds
  • Book a Demo or a Webinar on Fundingportal GMS, our 24/7 desktop grants management system (GMS) data and tools.

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Ontario Budget 2019 Highlights

  • $40M for the Automotive Industry. Driving Prosperity is a 10-year plan to support the growth of the automotive sector. Under the plan, the Government will:
    • Launch a new Ontario Automotive Modernization Program (OAMP) to assist parts suppliers to adopt technology and become more productive, innovative, and export‐focused,
    • Enhance the Autonomous Vehicle Innovation Network (AVIN) and include a “wintertech” stream to test mobility products and services in severe winter weather conditions, and
    • Increase funding for AVIN’s TalentEdge Program to support internships and fellowships.
  • New Northern Ontario Internship Program. This new program will be open to university and college graduates, new workforce entrants, those transitioning to a new career, and the unemployed and underemployed. It will have two streams: the Northern Ontario Indigenous Internship and The Northern Ontario Skilled Labour Internship.
  • Francophone Community Grants Program Expansion. This Program will now include a focus on economic development opportunities within Francophone communities.
  • New Apprenticeship Program. The Government is planning a new program to support employers in training apprentices.
  • ONIP Expansion. The Ontario Immigrant Nominee Program (OINP) will support more occupations and will include a new technology sector stream.
  • New Broadband Strategy. The Province will release more details on its new Broadband and Cellular Strategy later this year. It will invest $315M over five years in regional and shovel-ready projects.
  • Ontario Music Fund Modernization. The fund will now focus on high-return activities and emerging talent.
  • Streamlined Support for Video Game Developers. The annual labour expenditure threshold under the Ontario Interactive Digital Media Tax Credit (OIDMTC) will be lowered from $1M to $500k so that more companies can apply annually rather than applying separately for every product.
  • OITC Review. The effectiveness of the Ontario Innovation Tax Credit (OITC), an 8% tax credit on R&D expenditures for SMEs, will be reviewed.
  • $3.8B in Lower Corporate Income Taxes. The Ontario Job Creation Investment Incentive will lower the average marginal effective tax rate from 16% to 12.6%. The Incentive includes an immediate 100% write-off for manufacturing and processing machinery and equipment and for clean energy equipment, as well as an accelerated write-off for other assets. These measures are in place for assets acquired after Nov. 20, 2018, and will be phased out from 2024 to 2027.

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