Province appoints Board of Directors of new Invest Ontario provincial agency

Ontario’s provincial government has appointed the first members to the Board of Directors of Invest Ontario, the new provincial agency focused on promoting the province as a key investment destination.

The board will lead the new agency and will report to Vic Fedeli, Minister of Economic Development, Job Creation and Trade and will advise on key opportunities to spur Ontario’s economic recovery and growth in an increasingly competitive global marketplace.

Heading the agency as Chair is Elyse Allan, an executive with experience in driving growth, technology and innovation. Board members Anna Barrett, Janet Ecker, Ernie Eves, Cecil Hawkins, Andrew MacLeod, Joseph S. Mancinelli, Gadi Mayman, Carmine Nigro, Ajay Virmani and James Wallace will also bring experience in advanced manufacturing, technology and life science sectors that serve as initial areas of focus for the agency.

“Now more than ever, it’s critical to position Ontario as a top tier destination for investment, domestic growth, and job creation. A key measure to support this objective is the creation of a new investment attraction agency, Invest Ontario,” said Minister Fedeli. “Invest Ontario will be supported by a team of business development executives who bring a private-sector approach to attracting large-scale, high-quality investments to help drive our economy forward and cement our position as the economic engine of Canada.”

Invest Ontario includes greater business development and deal structuring expertise and will build on the many benefits of investing in Ontario. “Ontario offers a wealth of opportunities for investors and businesses looking to grow. Our talented workforce, leading postsecondary institutions, strong innovation and manufacturing sectors and business friendly climate are just a few of the attributes that make our province highly attractive,” said Elyse Allan. “Invest Ontario will promote these qualities and provide an all-in-one experience to prospective global investors that results in finding and closing the best deals to bring value and opportunity to the province.”

The goal of Invest Ontario is to promote the province as a key investment destination, making Ontario more competitive while sending a strong signal to investors that the province is open for business. It will be a “one stop shop” for businesses and investors. Invest Ontario is the latest provincial initiative to attempt to drive greater economic growth, and attract businesses from around the world to create employment opportunities across Ontario.