For Immediate Release
January 18, 2008

WORLD-CLASS RESEARCH IN ONTARIO BOOSTS ECONOMY

McGuinty Government Creating Tomorrow’s Economy Today

KINGSTON — Research at Queen’s University to reduce the amount of electricity used by computers is one of 19 cutting-edge research projects supported by the McGuinty government, Minister of Research and Innovation John Wilkinson announced today.

The projects are part of the province’s plan to help Ontario’s top researchers develop new ideas and turn these ideas into products and services that can be marketed to the world. The research projects at universities, institutes and hospitals across the province include:

• Reducing the amount of electricity used by computers
• Developing the vehicles of the future and
• Providing better tools to diagnose and treat heart disease.

Government funding of $115 million will be matched by 107 partners including industry.

“By investing in research and innovation and the skills and knowledge of our people today, we will ensure Ontario remains the best place in the world to live, work and raise a family,” Wilkinson said. “Ontarians will benefit from better health-care services, new technologies, a cleaner environment and more opportunities for success.”

“Ontario communities have some of the best research talent in the world working in state-of-the-art facilities,” said John Gerretsen, MPP for Kingston and The Islands. “I am pleased that we’re helping to attract and retain leading scientists at Queen’s University, creating a stronger community and more prosperity in Kingston and eastern Ontario.”

“The Ontario government understands that the key to creating a culture of innovation is strong partnerships among our top researchers, global business leaders and government,” said Pat Horgan, IBM Canada vice president, Manufacturing, Development and Operations. “This major provincial investment is leveraging multi-million-dollar investments from the private sector and creating significant spin-offs. These will translate into skilled new jobs right here in Ontario, and into new products and services that can be exported around the world.”

“The business of R&D and commercialization is expensive and moves fast – industry and academia can't do it alone,” said Karen Hitchcock, Principal and Vice Chancellor, Queen's University. “We need a government that is flexible and forward-thinking, that can enable great research and commercialization to take place in a timeframe that matches the pace of today's world. Ontario understands this reality and is working with us to make it happen.”

“Supporting cutting-edge research at universities, institutes and hospitals across the province will bring new jobs and a higher quality of life for Ontario families,” Wilkinson said.

The Ontario Research Fund is just one of the ways the McGuinty government is creating a stronger economy and supporting Ontario families. Other initiatives include:

• Launching the $160 million Ideas-to-Market strategy that supports emerging companies, which includes the Ontario Venture Capital Fund
• Providing a 21 per cent Capital Tax rate cut for all businesses retroactive to January 1, 2007, on the way to full elimination in 2010
• Announcing in the 2007 Fall Economic Statement an additional $50 million in strategic investment to further strengthen Ontario’s environment for scientific research that will lead to new discoveries, higher quality of life and new jobs.

For more information about the Ontario Research Fund, please visit www.ontario.ca/innovation.

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