US EditionOntario budget will boost tax credit for manufacturers in face of tariffs: Bethlenfalvy
- The Ontario government intends to increase funding for its manufacturing investment tax incentive in the 2025 budget, which will be unveiled on May 15, 2025.
- This expansion follows the 2023 introduction of the credit and aims to address economic uncertainty caused by U.S. Tariffs under President Trump.
- The credit rate will increase from 10% to 15% for Canadian-controlled private corporations and expand non-refundable eligibility to non-Canadian-controlled entities investing in Ontario manufacturing.
- The government plans to allocate an extra $1.3 billion across the next three years to support companies investing in buildings, machinery, or equipment for manufacturing or processing, with qualifying businesses eligible for up to $3 million in tax credits annually.
- Officials say the expansion will support over 830,000 manufacturing workers by lowering costs, attracting investments, and boosting Ontario's economic resilience amid global trade challenges.
19 Articles
19 Articles
Ontario budget will boost tax credit for manufacturers in face of tariffs: Bethlenfalvy
Ontario’s upcoming budget will include an expanded tax credit aimed at encouraging manufacturing in the province in the wake of a trade war with the U.S., Finance Minister Peter Bethlenfalvy said Monday.
Ontario invests $1.3B to support local manufacturing industry - MRO Magazine
The Ontario government is expanding the Ontario Made Manufacturing Investment Tax Credit, providing an additional $1.3 billion over three years to help lower costs for businesses that invest in buildings, machinery and equipment that are used for manufacturing or processing in Ontario. “Manufacturing workers here in Ontario are already feeling the impact of President Trump’s tariffs, including job losses that are the direct result of the econom…
Ontario government announces $1.3B expansion of Manufacturing Investment Tax Credit
The Ontario government is expanding the Ontario Made Manufacturing Investment Tax Credit, providing an additional $1.3 billion over three years to try to help lower costs for businesses that invest in buildings, machinery and equipment that are used for manufacturing or processing in Ontario. “Manufacturing workers here in Ontario are already feeling the impact of President Trump’s tariffs, including job losses that are the direct result of the…
Ontario Investing $1.3 Billion To Protect Manufacturing Workers And Jobs - Manufacturing AUTOMATION
May 5, 2025, Ontario — The government of Ontario is enhancing and expanding the Ontario Made Manufacturing Investment Tax Credit, providing an additional $1.3 billion over three years to help lower costs for businesses that invest in buildings, machinery and equipment that are used for manufacturing or processing in Ontario. “Manufacturing workers here in Ontario are already feeling the impact of President Trump’s tariffs, including job losses t…
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