It’s $43 billion. That is more auto investment landed in the province of Ontario than in any other jurisdiction, including every US state. That’s what’s happening. That is this powerhouse that is Ontario. The global automakers are choosing Ontario because we are at the centre. We are now the actual centre of the global electric vehicle revolution that is under way.

Speaker, I could continue to talk for quite a while about EVs, but I move that the question now be put.

Honda’s $15-billion investment is the largest investment in Canadian auto history.

Ontario has now attracted $43 billion in new auto and EV investments in the last four years. That is more than any US state.

What does that tell you, Speaker? Think about where we were under the Liberals—high taxes, red tape that was out of control, everything the Liberals could possibly do to hurt business. We step in, under Premier Ford, and what happens? Lower taxes, reduced red tape, lower electricity rates—$8 billion in lower cost of doing business every single year. That’s what’s bringing companies here into the province of Ontario. The lower cost of doing business has brought 700,000 workers here into Ontario since we were elected. This is what’s attracting businesses all over the world. They look at Ontario as this beacon, this light that’s happening here. They want to be part of it and now we’re at—

Look at today. Bloomberg has announced that Canada—and, as the Premier said, ostensibly Ontario—is now ranked number one in the world supply chain. We went from zero to $43 billion. We went from zero, last place, to number one. That is what’s happening.

We came so close to seeing the end of our auto sector under the previous government. Our workers were almost permanently sidelined because of the legacy of the Liberals.

From day one, as I said, our approach was to lower the cost of doing business—

Deals of this scale and of this calibre, they’re not made over night; they take time. Our first EV discussion with Honda was in Tokyo almost two years ago. We knew, going into these negotiations, that everything was going to be about relationships and trust. Honda already knew that we have the talent, the clean energy, the EV ecosystem, the minerals and the investment track record; they knew all that, and now, quite frankly, the whole world knows that.

Through many meetings in Tokyo, here at home, multiple meetings at the Premier’s own home, we cultivated that trust with Honda’s leaders—leaders like president and CEO Mibe-san, Honda Canada president Jean Marc Leclerc, Ozawa-san and Miyamoto-san. With the Premier at the table, leading those negotiations, they knew Ontario was serious about Honda. So thank you, Honda, for this wonderful—

Companies are choosing Ontario because we have everything global leaders need in EV production; 70,000 annual STEM grads, 700 parts makers, 500 tool and die and mould makers, 400 connected and autonomous companies—the full EV ecosystem—but, Speaker, most importantly, we have the best talent in the world.

Speaker, Honda’s $15-billion investment is a game-changer for our auto sector and for our entire province. This would not have happened without Honda’s long-standing history here in Ontario and especially with the dedicated team of workers at Honda, who produce some of the best-selling vehicles made in Canada; Premier Ford, as you heard, the best closer at the negotiating table, and a strong team—thank you to them—our team, who were introduced earlier, with their deep understanding of the auto sector; the officials in our ministry and their tremendous work and countless hours; and every member of this government—treasury, finance, infrastructure, energy, mines, labour. It was an all-of-government effort.

Speaker, this is a new chapter now in Ontario’s auto sector. We are an EV manufacturing powerhouse.

We are the EV-manufacturing powerhouse.

This is such a historic number that it bears repeating: In 2023, Ontario created more manufacturing jobs than all 50 US states combined. In the last three years, Ontario has attracted more than $29 billion in new manufacturing investments, creating more than 11,000 new jobs in that sector.

This year, Ontario welcomed an investment from a Kitchener-based med-tech firm, FluidAI. They’re investing $25 million, hiring 38 new technicians with a $1.4-million investment from our government. This investment will strengthen our world-class manufacturing sector and create jobs for hard-working families in Ontario.

We have continued to create the right conditions for job growth in every region of the province.

Our government recognizes just how important the manufacturing sector is in our economy. Already this year, we’ve welcomed $65 million in investment in Niagara region alone:

—Stanpac manufactures food, dairy and beverage packaging for global businesses—they invested $35 million to retool their facility in Smithville;

—AMSI, a company that designs and constructs support buildings for on-site development—they invested $20 million to construct a 67,000-square-foot manufacturing facility in Beamsville;

—St. Davids Cold Storage invested $9 million to expand their cold storage facility for food and beverage manufacturers—they created a total of 46 good-paying jobs with $6.7 million in investment support from the government.

Stay tuned, Speaker. The game-changing investments are just starting.

Last week alone, we had several hundred million dollars in new investment. Heddle Shipyards is investing $107 million in St. Catharines so they can tackle the Vessel Life Extension project. That’s 30 new jobs—$3.4 million in support through our government’s AMIC operation.

Medicom, a $165-million investment in London: This is a 140,000-square-foot production facility that’s being built. There’s 135 new jobs coming. If you remember before the pandemic, Speaker, we made virtually no PPE here in Ontario. Today, we make 74% of the PPE we buy. Once Medicom is up and running, making nitrile gloves here in Ontario, 92% of all PPE that we buy will be made domestically right here in Ontario.

Well, here’s the difference: While the federal government is increasing taxes through the carbon tax, we have been reducing taxes. In fact, we’ve lowered the cost of doing business by $8 billion a year. What has that resulted in? Site Selection Magazine declared Ontario as Canada’s most-competitive jurisdiction again this year. That’s five out of six years Ontario is our most competitive jurisdiction. The CBRE declared Toronto is the leading North American jurisdiction for tech job creation. Ontario leads Canada in foreign direct investment. In fact, in the first half of the year, almost $9 billion came into Ontario from outside of North America. That’s 57% of Canada’s foreign direct investment.

Speaker, none of this happened by raising taxes. We want our federal government to hear loud and clear that lower taxes create jobs.

Mr. Speaker, we have lowered the cost of business by $8 billion a year. That has attracted $27 billion of electric vehicle investments, 120,000 men and women working in that sector and that is going to produce, here in Ontario. We saw General Motors have the first electric vehicles in Canadian history come off their assembly line.

In Ingersoll, we’re producing clean and emission-free vehicles here in Ontario. These are built with Ontario workers right here in our province. Our batteries will be a 100% clean energy. You get a battery in Kentucky made with 6% clean energy or go to Indiana and get a battery with 7% clean energy.

Here in Ontario, we’re making green steel, which will produce zero-emission vehicles. That’s what we’re doing in the province of Ontario.

Speaker, over the summer we were thrilled to welcome many job-creating investments across the province through our government’s various regional development programs.

Numesh announced an almost $40-million investment to build a brand new facility in Brantford. They are the largest Canadian manufacturer of welded steel and wire mesh used in concrete reinforcement. With nearly $3 million in support from our government, the new facility is creating 56 new, well-paying jobs in Brantford.

Siltech Corp., a silicone-based chemical manufacturer, announced a $100-million investment to build a new state-of-the-art facility in Fort Erie. The new facility was supported by a $5-million investment from our government. That boosts Siltech’s manufacturing capacity, and they’ve hired 50 new workers.

Speaker, these investments will strengthen our world-class manufacturing sector and create jobs for hard-working families in Ontario.

Breadsource Corp., a family-owned company that produces absolutely delicious baked goods, announced an $18-million investment to build a new baking facility in Scarborough. The new facility was supported by an almost-$3-million investment from our government. It will triple the company’s production and create many well-paying jobs.

Speaker, we are creating the conditions for job growth in every single region of the province by lowering the cost of doing business by $8 billion every year. These game-changing investments are just the beginning.

Our recent sales mission to Asia focused on strengthening relationships with our partners and attracting new investments in key sectors, including electric vehicles, life sciences and tech.

While in South Korea, we joined LSK Investment to announce their new $100-million life sciences fund for Ontario companies. This new fund will support early-stage life sciences companies with a focus on developing new therapeutics. LSK also announced their plans to open the first overseas office worldwide—and their first North American office—here in Toronto. This investment will strengthen Ontario’s growing life sciences sector. With Ontario’s talented workforce, the best R&D facilities and 65,000 annual STEM grads, more overseas companies are coming.

Speaker, companies around the world continue to choose Ontario for their future because our government has reduced the cost of doing business by $8 billion every single year.

Speaker, Ontario is now the innovation and manufacturing gateway to North America, and that is the result of reducing the cost of doing business by $8 billion every year.

Hydrogen Optimized recently announced a $4.6-million investment in Owen Sound. They specialize in the production of green hydrogen through an exciting new manufacturing technology. This will replace fossil fuels in energy-intensive industries like cement and fertilizer production. They’re doing this cutting-edge work while creating new jobs and acquiring state-of-the-art equipment for Ontario. With a $500,000 investment from our government, Speaker, this is how we’re supporting our innovation and manufacturing sectors.

Well, that all changed under Premier Ford. Ontario is now one of the world’s leaders in EVs, with an unprecedented $25 billion in new business, $3 billion in new life sciences, $100 billion in tech, over 660,000 new jobs created. Speaker, that’s the difference when you put in a government that gets it done.

By lowering the cost of business by $8 billion every single year, we have made Ontario the most competitive place to invest and grow. This is the case all across the province, including in our rural and regional communities.

SBS Drivetec in Barrie recently announced a $2-million investment in their auto parts manufacturing plant. Their facility makes components for both combustion and EVs. With a $300,000 investment from our government, they will fully automate their manufacturing process on their assembly line and create new jobs. Speaker, SBS Drivetec adds to the over $1 billion in investments and the 1,800 jobs created through our Regional Development Program, and it builds on the $25 billion in EV investments we’ve attracted to Ontario.

Speaker, in the last two and a half years, this government has landed $25 billion worth of electric vehicle and battery investments. All of that happened because we lowered the cost of business by $8 billion a year.

Ontario has done a deal with Stellantis identical to the deal we did with Volkswagen—and I mean identical in every way—and we are honouring our commitment. We know the feds have made a commitment to Stellantis. In fact, in writing, five times they have committed to matching the production incentives of the United States; five times the feds have committed. We are urging the federal government to honour their commitment.

We have reduced the cost of doing business in Ontario by $8 billion every year. According to the latest federal report, Ontario is now the number one investment destination in all of Canada, and with our regional development programs we’re ensuring that we remain that number one site.

Just last week, All Season Fencing announced a $4-million investment into their Trenton manufacturing facility. Thank you, Minister Smith, for doing that. They manufacture sustainable PVC vinyl fencing that uses only recycled plastic. They are creating 19 jobs and acquiring new equipment in Trenton with a $400,000-investment from the province. This adds to the $1 billion in investments and over 1,800 jobs that companies like All Season Fencing have added to Ontario.

They continue to vote against attracting billions in investment and making Ontario stronger. Speaker, we’re going to keep Ontario competitive because we’re open for business.

Speaker, we all know that Ontario communities are the most competitive places to invest and grow. By lowering the cost of business by $8 billion every year, we have attracted record investments here into Ontario.

Just last week, Trusscore in Palmerston announced a $10-million investment in a manufacturing facility. They make a unique, sustainable PVC-based wall and ceiling panel, which is a really modern replacement for traditional drywall. With a $1.5-million investment from the province, they’re adding 68 good-paying jobs. Speaker, Ontario has attracted $1 billion in new investments like that one from Trusscore through our Regional Development Program. This is the commitment we make to the people of southwestern Ontario.

But our government has reversed all of that. We’ve eliminated red tape, lowered hydro rates and reduced the taxes that the Liberals and NDP piled on, sending those businesses running. We’ve attracted record levels of investments and jobs—$25 billion in auto investments, $3 billion in life sciences, and billions more in the tech sector. And we’re also helping entrepreneurs with support from our regional innovation centres, found all through Ontario, and our small business centres, found in most Ontario communities. Speaker, this is exactly what businesses and entrepreneurs needed to turn their dream into jobs.

Last week, with the Premier, we were thrilled to welcome Moderna’s multi-million-dollar partnership with Novocol Pharma in Cambridge. They will expand vaccine manufacturing in Cambridge and ensure faster, more reliable access to life-saving vaccines. Not only will this investment create good-paying jobs, it will provide our health care workers and families with more reliable access to life-saving vaccines, helping to ensure we no longer have to rely on other jurisdictions to keep us safe.

Speaker, with the $4-million investment through our Ontario Together Fund, Novocol will add to their 500-plus highly skilled workers. It’s hard to keep up with the billions in life science investments: Sanofi, Roche, OmniaBio, AstraZeneca, Novartis; this list goes on and on, Speaker. The momentum of investments by these companies is a vote of confidence in our life-saving sector.

Speaker, think of where we were when the pandemic struck. We had almost zero PPE being built in Ontario. Today, we’re at 74%, and tomorrow, when the nitrile gloves are built in London, we’ll be at 94% of all PPE manufactured.

Volkswagen’s $7-billion investment will solidify a brighter future for tens of thousands of auto workers. Over 3,000 direct and 30,000 indirect jobs will be created in total. Major suppliers will be required to produce products that we’re unfamiliar with in Ontario: cathode, anode, separators, copper foil, lithium hydroxide. These are all billion-dollar companies that will land in Ontario.

We’re headed back to Germany to plan a series of supplier days, where we’re going to match Volkswagen with other Ontario companies. This will solidify Ontario’s position not only as the EV centre, but also as the best place in the world to do business, to invest, to live and to grow.

Speaker, we are building an EV sector that will continue to create good-paying jobs for generations.

That future, Speaker, is now: $25 billion in auto investments in just 2.5 years. That’s the story of Ontario. That story will continue with Ontario as the global leader in the EV supply chain.

I’m going to talk for the next 20 minutes about the budget because this is one of our documents and one of our efforts that is really going to propel Ontario through 2023 and into the future. All you have to do is look to the past to know exactly where the future is going to take us, and this bill addresses everything that we need to get us through this year.

I want to look back to some time ago when former Premier Wynne was on a stage with former CEO of Fiat Chrysler, Sergio Marchionne. Now, his exact words when the Premier asked him about expanding Chrysler in Ontario, he looked very quizzically at her and his exact words to her were: “This is not what I would call the cheapest jurisdiction.” He said to her, “You need to create the conditions to be competitive.” Speaker, I would attest that that is exactly what was done in the past, and that’s exactly what the Ontario Made Manufacturing Investment Tax Credit that is in this budget will do for the future.

Speaker, when you look again to the past, you can see what happens when you don’t do things like the Ontario Made Manufacturing Investment Tax Credit, investing in Futurpreneur, investing in places like Invest Ottawa and others.

The previous Liberal government, in their thankfully final report on the economy, threw in the towel on manufacturing and threw in the towel on Ontario. I’m quoting again from their final report on the economy: “The structure of the Ontario economy will continue to shift from goods-producing to service-producing sectors” and this will result in “shifting employment from goods-producing industries, in particular manufacturing, to the service-sector industries.”

Instead of fixing the problems that they created, they threw in the towel. They just gave up. They gave up on Ontario. They gave up on manufacturing. They certainly gave up on northern Ontario. We know that.

We were elected in 2018, and one of the very first instructions from Premier Ford to our entire caucus was that we’ve got to listen to what happened in the past, learn why 300,000 manufacturing jobs fled Ontario, why manufacturers fled Ontario and listen to what they’ve asked. They asked us to lower the cost of doing business. That’s exactly what we did, and that’s exactly what this budget will do through the Ontario Made Manufacturing Investment Tax Credit.

The Premier visited places like Ford, GM, Stellantis, Honda and Toyota, as well as companies in the tech sector, as well as companies in the pharma sector, and all of them said the same thing: “The cost of doing business in Ontario is too high. You’ve got to bring in some relief. You’ve got to lower the burden. You’ve got to lower the taxes in Ontario.” The very first thing that was done was the WSIB, Workplace Safety and Insurance Board. Some people would call it workers’ compensation. That was reduced by 50%. There was so much money in reserves bundled in there by the previous government, taking it from the businesses and piling it into reserves that not only were so overstuffed, they far surpassed any financial requirements, they far surpassed any moral requirements to keep that much money. So that was cut by 50%. That was $2.5 billion annually in the cost of premiums saved by businesses without touching the benefits even a fraction. That $2.5 billion—the 50% cut—was only the beginning. From there, something called an accelerated capital cost allowance—that’s a really fancy way of saying that you can take your equipment and write off the cost of that equipment in-year. That’s a really novel thing to do in North America. Businesses, instead of writing their equipment off over years, can write it off in the same year. That saves businesses a billion dollars a year.

Then the red tape reduction bills began, a series of eight or nine of them now, that saved hundreds of millions of dollars every single year. All the taxes that the previous Liberal government had planned for January 1, all of those hundreds of millions of dollars of tax increases that were to come in on January 1, 2019, we wiped all of those off—gone. Hundreds of millions of dollars did not come on the tax rolls of these businesses on January 1.

The hydro mess that the Liberals created: We also immediately reduced industrial and commercial rates by 15%. You take that combination of capital cost allowance, WSIB, red tape, hydro, taxes: All of these things together at the time lowered the cost of doing business in Ontario by $7 billion each and every single year.

Speaker, you would say, as some have said, “Well, what did the government do? They lost $7 billion each year in revenue. How do you continue governing with that much loss of revenue?”

We’ve always said from the very beginning that lower taxes create jobs and create higher revenue. And nothing proved it more than the budget that came out last week, where we saw that now the annual total of savings is $8 billion—$8 billion in savings every year. What did that do, Speaker? Exactly what it was set out to do: 600,000 new jobs were created in the province of Ontario. That exactly is the result that you would anticipate—one of the two results you would anticipate.

Some 300,000 jobs were created before the pandemic; 300,000 jobs were created since the pandemic. Our government, with these changes—$8 billion a year in savings—created the conditions for those companies to create all of those jobs. Eighty-five thousand new businesses opened in the province of Ontario last year. Again, why? You’ve got a lower cost of doing business.

Again, $8 billion—yes, lower revenue to the province. How did that get made up? Higher employment—600,000 new jobs. Revenue to the government was $154 billion the year we were elected. This budget shows the revenue to the government is now $204 billion, a $50-billion increase, because lower taxes create higher revenue. That’s what’s happened here in the province of Ontario.

More of that is coming. You’ve got the Ontario Made Manufacturing Investment Tax Credit. That brand new tax credit is going to lower the cost of investing in Ontario for local manufacturers who want to grow their business, want to expand their business, just like the WSIB, $2.5 billion in savings; just like the capital cost allowance—in fact, this one is very similar to that—that saved a billion dollars. This is going to save $780 million for businesses to be able to reinvest that money in their companies, just like they did the last four years, where they hired 600,000 workers.

This is exactly what works. This is the formula for success for Ontario. This is going to provide a 10% refundable corporate income tax credit on the investments in buildings and machinery and equipment, all to use in advanced manufacturing and processing, all to build the things we need in Ontario, all of the reshoring that has gone on in the province of Ontario—I’ve talked about it before, a great company down in Windsor that makes Pine-Sol. Pine-Sol was never made here in Ontario. It has been reshored from the States into Canada, and who doesn’t love Pine-Sol? It’s now made here in Ontario, along with dozens and dozens and dozens of other companies that are making products in Ontario for the very first time. Why? Because we’ve lowered the cost of business. We’ve made it attractive to them. This Ontario Made Manufacturing Investment Tax Credit is the next step. That’s the next piece of the puzzle to lure even more companies here to work in Ontario and to hire our families.

If there was any doubt that there was any issue with this at all, think again. We’ll go back to where we were in 2019. Reuters news agency announced that $300 billion was going to be spent on electric vehicles, electric vehicle batteries and parts—$300 billion. Of that $300 billion, not one penny was earmarked for Canada or Ontario. Not one cent under the previous government was earmarked here. They’d given up. They threw in the towel. They gave up on manufacturing, turned manufacturers away, raised the price of hydro, raised taxes, raised all the costs of doing business and sent people fleeing. With $300 billion at stake, we got zero.

In a very short period of time after implementing the things that we talked about—things like this Ontario-made investment tax credit that’s coming, if passed—we now saw $17 billion in announcements made by all of these auto companies in 24 months, and that is before the Volkswagen announcement that was made only a few weeks ago. We’ll learn more about that in the coming weeks as they are here to make their announcements, and we’ll learn just how vast the plant that they plan is and how vast their investment will be, Speaker—without that: $17 billion. And that has prompted Bloomberg, another one of our media agencies, to rank Canada as second in their annual global battery supply chain ranking. We went from zero to second place in the world; first in North America, ahead of the US, incidentally.

We also heard from Site Selection magazine, the very company, the very groups that find sites like Ontario for all of these global companies, whether it’s in pharma, whether it’s in tech, whether it’s in auto—the site selectors gave Ontario the number one ranking. Ontario has been ranked as the most competitive province in the nation. We are the leader. We’re leading the nation in job creation; we’re leading the nation in site selection. On virtually every economic metric you can find, we are number one. Ontario is leading that pack every day of the week.

I’ve said this in this Legislature before, but I do want to repeat it: Every single day of every single week, Premier Ford gets what we like to call his one-a-day vitamin. We send him a text with the name of a company, the city they’re locating in, how many millions they’re investing, how many employees they’re hiring and whether we have any skin in the game. I bring that up again because nothing has changed. Every day—every single day—the Premier receives that note, because the economy in Ontario is robust. We have the same concerns that we see around the world, but we’ve been powering through it with announcement after announcement after announcement after announcement of companies that are investing here because they look at Ontario.

We’ve travelled to several countries in the last while attracting these businesses here, like Volkswagen, and they all have told us two things. The very first thing when we sit down with the executives, no matter which country we’ve been in or no matter what company we visited in that country—they tell us the same two things. It’s really interesting to hear this. The first thing they tell us is that they look in this very troubled world that is coming off a pandemic for the last couple of years, and they look at Russia’s illegal war in Ukraine, they look at the elephant in the room of China and all of the turmoil that the world is going through and all of these tough economic decisions that have to be made. They tell us, to a company—they look to Ontario as a sea of calm. They say, “You are stable. You’re a reliable partner. We know what we’re going to get. We’re putting our money with you.” All of them have said that to us.

The second part of what they’re saying is that Ontario is a safe place. It’s a safe place for their executives. It’s a safe place for their employees. It’s a safe place for their families to be. It’s universal that they’re doing this, and that is also why they’re coming here.

You need the fundamentals in place. You need to have a skilled workforce. They like our 65,000 STEM grads we have. Every single year, we’re producing 65,000 science and technology and engineering and math graduates.

We have a tremendous life science ecosystem here: all of the companies that are making medical technologies, making pharmaceuticals. It is a huge life sciences sector. We’ve had $3 billion in new life science investments in the last couple of years.

They love our tech sector. I think for four or five days in a row the notes that I sent to the Premier were of brand new tech companies who are investing hundreds of millions of dollars here in Ontario. Look at Nokia: only a few months ago, $340 million invested in Ottawa. Telus: $23 billion invested in Ontario, 9,500 new employees coming to Ontario with that company alone.

Now, the Ontario Made Manufacturing Investment Tax Credit is the newest piece, the newest tool that we have in our tool box. We will now add this to the long litany of things where we talk to companies about how we lowered the cost of doing business by $7 billion. Well, it’s now $8 billion. When we put this Ontario Made Manufacturing Investment Tax Credit—we talk about 600,000 new employees. That number will grow too, because these companies are going to hire people.

There are a couple of other things that are exciting as well. In Ottawa, we’ve seen a real investment in the tech sector. If you look between 2016 and 2021, in San Francisco, they added 14,000 employees in those five years in the tech sector, brought them up to about 380,000 employees in Silicon Valley. But if you look between Toronto and Waterloo, we’ve added in the same period 88,000 new tech employees, just from Toronto to Waterloo. That brings us up to about 315,000, just between Toronto and Waterloo. We grew 350% faster than Silicon Valley in the last five years.

Speaker, if you add Ottawa, there are 555 tech companies in Kanata alone. There are 80,000—

In 2019, Reuters revealed that car companies planned to spend $300 billion globally, but none of that money was planned for Canada or Ontario. So we put our Driving Prosperity plan in place. It started with lowering the cost of doing business by $7 billion each and every year. We met worldwide with companies looking to be part of the EV revolution and told them about Ontario’s skilled workforce, our clean energy, our EV ecosystem, our critical minerals. Within 24 months, we attracted $17 billion in EV auto investments in Ontario, and that’s before the Volkswagen announcement.

This year, Bloomberg ranked Canada as second in their annual global battery supply chain, first in North America, ahead of the US. We went from zero investments to the global leader.