Leader of the Official Opposition Patrick Brown Tours Waterloo Region Tech Companies

QUEEN’S PARK – Yesterday, Leader of the Official Opposition Patrick Brown toured tech companies in the Kitchener-Waterloo area and discussed challenges facing the tech sector alongside MPP Michael Harris (Kitchener-Conestoga).

“Tremendous things are happening in the Waterloo Region. We need to ensure our province is giving these tech companies the tools to further innovate and foster ideas,” said Brown who made stops at Vidyard, Google, Communitech, and D2L. “Unfortunately, the business climate in Ontario is becoming increasingly unaffordable. Between our skyrocketing energy prices and increasing tax burdens, tech companies are battling to attract talent and stay in Ontario.”

Instead of encouraging the tech community to invest in Ontario, the Liberal Government cut back the Ontario Innovation Tax Credit and the Ontario Research and Development Tax Credit. The cuts represent an annual loss of $65 million in tax credits to Ontario’s innovation economy beginning in the 2017-2018 fiscal year.

Brown also discussed the need to improve transportation corridors between Kitchener and the GTA. Extensive gridlock and the lack of quality transit make it difficult for these tech companies to grow their talent base.

Ontario currently experiences a skills gap which costs the economy $24.3 billion a year and $3.7 billion in foregone tax revenue. 

“We need to be graduating Ontario students for the jobs of tomorrow. Employers shouldn’t have to search beyond Ontario’s borders to find the right candidate for the job. They should be able to find highly skilled and qualified people in their own cities and towns,” concluded Patrick Brown. “The tech sector is the future of Ontario’s economy – it is time we invested in Ontario’s digital infrastructure.”