Patrick Brown said: “Ontario’s unaffordable hydro rates are driving businesses, jobs and investment out of the province.”
Fact: Under Premier Wynne’s leadership, Ontario has created 266,000 new jobs and kept its unemployment rate below the national average for 20 straight months. We’ve posted higher real GDP growth in the first three quarters of 2016 than the rest of Canada, the U.S. and all G7 countries, while also continuing to lead the country in Foreign Direct Investment. According to Statistics Canada data, Canadians are flocking to Ontario at the fastest rate in 29 years. (Source: http://www.huffingtonpost.ca/2017/01/10/toronto-house-prices-migration_n_14084506.html?ncid=tweetlnkcahpmg00000002)
The most recent numbers show that Ontario has a very strong business climate, with more Foreign Direct Investment ($4,062 M) than California ($4,036 M), Ohio ($3,164 M), Michigan ($1,668 M) and Pennsylvania, which didn’t crack the top 20. (Source: FDI Intelligence) RBC’s recent economic forecast predicts that Ontario will lead the country in economic growth. The report states “we believe that Ontario will be in the pole position among provinces in 2017 with a growth rate of 2.3%”. RBC also predicts that our increased infrastructure investments “would add meaningfully to provincial growth”. (Source: http://www.rbc.com/economics/economic-reports/pdf/provincial-forecasts/ont.pdf)
Patrick Brown said: General Mills closed a plant’s operations in Midland as a result of electricity costs.
Fact: When asked about Patrick Brown’s statement, the company was shocked, according to the Orillia Packet and Times. A company spokesperson responded firmly that “electricity prices didn’t factor in the decision to move.” (Source: http://www.orilliapacket.com/2017/01/27/general-mills-denies-hydro-costs-behind-decision-to-close-plant)