Ontario has announced a significant investment of $146 million as part of its life sciences strategy, marking a major shift in the province’s approach to this crucial sector.
The investment, which was announced by Premier Doug Ford and Minister of Economic Development, Job Creation and Trade Vic Fedeli, will be used to support the growth and development of the life sciences industry in Ontario. This includes funding for research and development, as well as initiatives to attract and retain top talent in the field.
According to Premier Ford, this investment is a crucial step towards making Ontario a global leader in life sciences. He emphasized the importance of this sector in creating jobs and driving economic growth, especially in the wake of the COVID-19 pandemic.
Minister Fedeli echoed this sentiment, stating that the investment will help Ontario’s life sciences industry to thrive and compete on a global scale. He also highlighted the potential for this sector to contribute to the province’s economic recovery and create high-paying jobs for Ontarians.
The investment will be distributed through various programs and initiatives, including the Ontario Together Fund, which supports businesses in developing innovative solutions to combat the pandemic. It will also go towards the Ontario Research Fund, which provides funding for research projects in the life sciences sector.
In addition to the financial investment, the province also announced plans to establish a new Life Sciences Ontario Advisory Council, which will bring together industry leaders to provide advice and guidance on how to further strengthen the sector.
This announcement has been met with enthusiasm from leaders in the life sciences industry, who see it as a significant step towards realizing the full potential of this sector in Ontario. With this investment, the province is positioning itself as a leader in life sciences and paving the way for future growth and success.
As Ontario continues to navigate the challenges of the pandemic and work towards economic recovery, this investment in the life sciences sector is a promising development that will have a positive impact on the province’s future.
