For Immediate Release
September 25, 2006

MCGUINTY GOVERNMENT STRENGTHENING ONTARIO’S ECONOMIC ADVANTAGE BY BOOSTING RESEARCH ACROSS THE PROVINCE

Ontario Research Fund Supporting 126 Projects At 16 Ontario Institutions

QUEEN’S PARK -- The McGuinty government is strengthening Ontario's economic advantage by supporting world-class research at 16 research institutes in communities across the province, Premier and Minister of Research and Innovation Dalton McGuinty announced today.

"We need to ensure that Ontario can compete in the marketplace of ideas," said McGuinty. "By building world-class research facilities in Ontario, we can attract and retain the best and brightest people and provide jobs and prosperity for Ontarians well into the future."

The government is investing $20 million to support 126 innovative projects under the Ontario Research Fund.  The investment helps researchers obtain the tools they need to stay on the cutting-edge of innovation, including lab equipment, specimens and computer software.  

The provincial investment matches the funding commitment made by the Canada Foundation for Innovation (CFI). Project funding is shared among the CFI (up to 40 per cent), the province (up to 40 per cent), and the research institutions (at least 20 per cent).

Under the Ontario Research Fund, the government is investing $550 million to provide operating, overhead and capital funding to support leading-edge R&D in Ontario's universities and hospitals, and to leverage support from the federal government and private industry.

Investing in innovative research and development is the latest example of how the McGuinty government is working on the side of businesses and families to strengthen Ontario's economy.

Other initiatives include:

• Encouraging strong job creation, with almost 268,000 net new jobs since taking office
• Helping to generate almost $7 billion in automotive investments that retain and create thousands of high-value jobs
• Launching a $500-million Advanced Manufacturing Investment Strategy to help manufacturers develop cutting-edge technologies
• Investing $6.2 billion in our universities, colleges, student financial assistance and training programs.

"We know that jurisdictions that invest in innovation will be home to the most rewarding jobs, the strongest economies and the best quality of life," McGuinty said. "By providing researchers with the tools they need to succeed, we're laying the foundation for generations of research talent to come."

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