Ontario's 12.5 million people make it Canada's most populous and dynamic province. Its share of Canada's GDP for 2005 was 39 per cent and it is Canada's leading manufacturing province accounting for 52 per cent of the total national manufacturing shipments in 2004.
The prospects for Ontario's economic growth are bright over the longer term with real output forecast to rise by 2.3 per cent in 2006 and 2.5 per cent in 2007. This growth will foster strong job creation and rising incomes.
Ontario has a diverse and well-balanced economy with high concentrations of manufacturing and financial and business services. There has been a marked shift towards export-oriented, higher value-added industries.
Employment in Ontario stood at 6,398,000 in 2005. 81,200 net new jobs were created in Ontario in 2005.
Job creation is expected to rise by 85,000 in 2006, and 209,000 in 2007-2008.
CPI inflation in Ontario was 2.2 per cent in 2005, and is forecasted to be 2.1 per cent in 2006, and 1.8 per cent in 2007.
Ontarians, in most years, can expect the province to be one of the fastest-growing regions in the advanced industrial world. Ontario benefits from a growing labour force, which is attracted and sustained by a high quality of life and equipped with the education, skills and initiative needed to compete in today's knowledge-based market place.
Centrally located within North America and offering a hospitable business climate, Ontario is a prime location for investment.