Supporting Small Businesses in Eastern Ontario

May 14, 2013

Ontario Government Fosters Regional Economic Growth to Create Jobs

Premier Kathleen Wynne visited Anchor Concrete in Kingston today, where she highlighted the government’s commitment to supporting small businesses, allowing them to create more jobs and support regional economic growth.

The new 2013 Budget includes an increase to the Employer Health Tax (EHT) exemption, which would bring relief to small businesses and make it easier for them to hire new employees.

If the Budget bill is passed and proclaimed, the exemption would be increased from $400,000 to $450,000 beginning Jan. 1, 2014.  This would have a positive impact for more than 60,000 employers across Ontario, including 12,000 that would no longer pay EHT.

The government is also supporting regional economic growth through initiatives such as the Eastern Ontario Development Fund (EODF) and the Southwestern Ontario Development Fund (SWODF), which support local companies, promote regional economic development and enhance Ontario’s overall economic competitiveness.

Through the 2013 Budget, the government wants to create jobs and support regional economies, while helping people with their everyday lives.

QUICK FACTS

• If the proposed Employer Health Tax exemption is implemented, 88 per cent of Ontario private sector employers would not pay EHT nor incur the compliance costs of filing an EHT return.
• Since it launched in 2008, the EODF has helped to create and protect more than 14,000 jobs in eastern Ontario. The EODF was made permanent in October, 2012.
• Following the success of the EODF, the government launched the Southwestern Ontario Development Fund in October, 2012. It has helped to create and protect 2,200 jobs.

LEARN MORE

• Discover more about the Eastern Ontario Development Fund. 
• Read the 2013 Ontario Budget. 

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