The Ontario Clean Technology Industry Association (OCTIA) is pleased to see a few elements in Ontario’s Fall Economic Statement that have the potential to significantly contribute to building a healthy, resilient economy in our province:
- The launch of the Ontario Infrastructure Bank can have significant impact if the initial funding of 3 billion from the government is deployed to further investments in EV charging, hydrogen and clean energy infrastructure.
- The Ontario Focused Flow-Through Share Tax Credit can be a powerful tool to encourage efficient and sustainable mining technologies.
- The Housing-Enabling Water Systems Fund, for the repair, rehabilitation and expansion of a variety of municipal water infrastructure projects has the potential to accelerate the implementation of more efficient, resilient and sustainable solutions.
- The additional $100 million going to the Invest Ontario Fund for a total of $500 million could be used to fund industry – clean technology projects and have significant impact on reducing our province’s carbon footprint while keeping our heavy industries globally competitive.
- The Ontario Made Manufacturing Investment Tax Credit needs to be tied to investments in technologies that are increasing efficiency while reducing environmental impact to have maximum impact.