Horwath Introduces Manufacturing Tax Credit (VIDEO)
May 9, 2014 11:04am
If elected, the NDP say they will introduce a manufacturing investment tax credit.
Leader Andrea Horwath made the announcement while visiting the Windsor automotive accessories plant Ground Effects.
She says the credit will keep companies in the province and create tens of thousands of jobs. “There’s a lot of companies that know they need to expand and innovate but they’re finding it hard to do that in tough economic times. In other provinces they’re using investment tax credits to help bring more investment to their regions.”
Horwath has committed $250-million annually for two years of the program. Each company would be eligible for a 10% credit for any equipment or machinery purchased for their Ontario manufacturing plants.