ANNOUNCEMENT 12 Jan 2015

In January 2015, the government of Canada announced a change in private-sector financial support.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



See the material cited in the description.


Inception date: 12 Jan 2015 | Removal date: open ended
Still in force

Financial grant

The Federal government of Canada and the provincial government of Ontario are reportedly providing millions of dollars in support to the auto parts manufacturer Linamar Corporation in order to create 1,200 jobs, but - according to Canadian press accounts (see for example a January 12, 2015 report at http://globalnews.ca/news/1768308/feds-to-announce-major-investment-at-l...) the terms of the deal are secret. The plant in question is located in Guelph, Ontario.
The total investment is valued at $506.8 million, which - according to a Government of Ontario press release (http://news.ontarionewsroom.com/opo/en/2015/01/ontario-partners-with-lin... ) - will include $50.25 million in support from the provincial authorities.
Press accounts quoted a spokesperson for Ontario's Finance Minister as stating that the terms of the agreement are being kept secret because publishing them 'may reduce our negotiating position when we discuss future investments with businesses across Ontario.'

AFFECTED SECTORS