As Ontario’s Minister of Northern Development and Mines, I am proud to be part of a government that recognizes that investing in the North is investing in Ontario’s future.
We know that attracting and retaining industry investment in the North is critical to the economy, which is why I announced that in the upcoming budget, our government is committing up to $120 million per year in permanent support for the Northern Industrial Electricity Rate (NIER) program. Industry has said that the cost and availability of electricity is a major consideration when they choose where to do business and we’ve listened. And we want them to choose Ontario.
Our government created the NIER program in 2010 to help qualifying major industrial electricity consumers reduce their electricity costs so they could focus on creating and sustaining jobs, and maintain global competitiveness. I’m proud to say it’s been a success.
In fact, over the last five years our government has worked in collaboration with industry to maximize the opportunities associated with Northern Ontario’s abundant natural resources, thanks to NIER. It’s helped keep Ontario a stable and attractive destination for companies to do business. Forestry, mining and steel production continue to be the backbone of Northern Ontario’s economy.
In fact, forestry and mineral related industries provide more than 245,000 direct and indirect jobs in Ontario. With today’s announcement, we are taking another step forward to maximize those job markets.
Investing in NIER is about ensuring the future growth of our Northern industries that employ Ontarians and drive the economy of Northern Ontario.
