There are some folks that still cling to the notion that Atlantic Canada serves up corporate subsidies to draw industry while Ontario and the other strong economies don’t.
Of course, most – the vast majority of folks realize this is not true. I am watching the Ontario dole out the $1.15-billion Next Generation Jobs Fund. The latest is the $150 million to create jobs in the biopharmaceutical research community with grants, loans, forgivable interest loans.
Even if New Brunswick did a scaled version of that fund it would mean $100 million in new, targeted funding for specific industry sector development.
Because, as we all know, this is just one funding program. There are many more in Ontario – provincial and federal – that are being used to stimulate industrial growth.
For example, ad nauseum, the new $165 million Ontario Venture Capital Fund announced yesterday.