CME STATEMENT ON SUPPORTS FOR ONTARIO MANUFACTURERS IN 2025 BUDGET
A key pre-budget ask from CME, the enhancement of the Ontario Made Manufacturing Investment Tax Credit – which raises the credit rate from 10% to 15% and expands eligibility to include non-Canadian-controlled private corporations – along with the introduction of the Ontario Together Trade Fund, represent a timely and targeted approach to help manufacturers invest. "These flexible incentives and grants will help businesses buy crucial equipment and tools when they need it most, supporting their pivot to new opportunities," said Dennis Darby, President and CEO of CME.
CME also welcomes the creation of the Trade Impacted Communities Program, which will equip ecosystem partners as they seek to create supportive business conditions and safeguard the manufacturing jobs Ontarians rely on.
As highlighted in CME's latest report, Keep Calm and Keep Training, workforce development remains an urgent priority for the manufacturing sector. CME commends the province for its continued commitment to building a stronger workforce, including a $1 billion boost to the Skills Development Fund for industry, and $750 million in funding for STEM programs at post-secondary institutions.
"These historic commitments mark a turning point. By working together, we can build on Ontario's strong industrial foundation to usher in an Ontario Made economic revolution - one that champions homegrown innovation, drives global competitiveness, and secures long-term prosperity for all Ontarians," concluded Darby.
ABOUT CANADIAN MANUFACTURERS & EXPORTERS (CME)
Since 1871, CME has made a difference for Canada's manufacturing and exporting communities. Fighting for their future. Saving them money. Helping manufacturers grow. The association directly represents manufacturers large and small, across all subsectors, from automotive, aerospace and food to the materials, technology and energy that support them. More than 85 percent of CME's members are small and medium-sized enterprises. CME's membership network accounts for an estimated 82 percent of total manufacturing production and 90 percent of Canada's exports.
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