Every industry sector in Canada's most industrial province is seeing impressive growth thanks to economic vitality and lower taxes. R obust economic growth, an increasingly competitive corporate tax structure and a constant supply of graduates of top-notch engineering schools are the three engines driving Ontario's acceleration into the fast lane.
All indicators confirm that there has never been a better time to be in Ontario for business.
Industry Canada's ICT Statistical Review reports that the information and communications technology sector is growing three times faster than the rest of the economy. Over the past five years, more than 1,100 licenses, permits and reports have been eliminated. Over the next five years, cuts to both federal and provincial rates will leave Ontario with one of the lowest corporate tax burdens in North America. The federal CIT will drop from 28 percent to 21 percent. The Conference Board of Canada forecasts the Ontario GDP will rise by 4.6 percent and 3.0 percent respectively for 2000 and 2001.