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ONTARIO SPOTLIGHT
Progressive
Climate
conomic growth four times that of the United States and generally lower business costs are helping to make Canada's case for attracting foreign direct investment. In Ontario, the largest of the nation's provinces at 42 percent of Canada's economy, the sectors seeing the most investment are biotechnology, automobile manufacturing and suppliers, information technology (IT) and customer contact centers.
All four sectors and other Ontario industries as well are thriving in large part due to a progressive business climate. Nearly 200 tax cuts have been enacted over the past seven years, including reductions to detrimental payroll taxes. Thirteen hundred government regulations have been eliminated, and US$12.6 billion has been committed to infrastructure renewal. (Currency figures in this article were converted to US$ in October at an exchange rate of C$1=US$0.6304.) |
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