Clean Technology News

Ontario's Fall Economic Statement
OCTIA’s take on Ontario’s Fall Economic Statement
Published on: November 6, 2023

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:

  1. 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.
  2. The Ontario Focused Flow-Through Share Tax Credit can be a powerful tool to encourage efficient and sustainable mining technologies.
  3. 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.
  4. 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.
  5. 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.