Canadian Manufacturers & Exporters

Canadian Manufacturers & Exporters

September 03, 2008 09:57 ET

CME Advocacy Paying Off for Ontario Manufacturers

MISSISSAUGA, ONTARIO--(Marketwire - Sept. 3, 2008) - Courtesy of the efforts of Canadian Manufacturers & Exporters, there's 190 million reasons why the Ontario manufacturing sector is stronger, starting today.

The announcement of the final phase of capital tax rebates for manufacturers marks the end of one era and ushers in another, according to Ian Howcroft, vice president of CME Ontario.

"The elimination of the capital tax has been an issue that has topped our priority list for many years and we commend the Premier and the Ontario government for taking action to eliminate this tax, a deterrent to investment," said Howcroft. "In total, the elimination of the Ontario capital tax represents $190 million in cash flow for the sector and this capital is needed to help finance the necessary investments in training and equipment to improve productivity and competitiveness."

Despite the challenges facing the sector, manufacturing continues to be the engine that drives the economy, employing approximately 900,000 Ontarians directly, 1.5 million indirectly and contributing $300 billion to GDP. Every dollar invested in manufacturing represents $3.25 in total economic activity.

Canadian Manufacturers & Exporters (CME) is Canada's leading trade and industry association and the voice of manufacturing and global business in Canada.

The association directly represents more than 10,000 leading companies nationwide. More than 85% of CME's members are small and medium-sized enterprises. As Canada's leading business network, CME, through various initiatives including the establishment of the Canadian Manufacturing Coalition, touches more than 100,000 companies from coast to coast, engaged in manufacturing, global business and service-related industries.

CME's membership network accounts for an estimated 82% of total manufacturing production and 90% of Canada's exports.

Contact Information

  • Canadian Manufacturers & Exporters
    Ian Howcroft
    Vice President, Ontario Division
    Canadian Manufacturers & Exporters
    Paul Clipsham
    Director of Policy