Released on: January 23, 2008, 6:17 am

Press Release Author: Iris Conseil

Industry: Biotech

Press Release Summary: TORONTO - The Ontario government is providing $150 million
through the Next Generation Jobs Fund to encourage research-based pharmaceutical
companies to invest in Ontario, Minister of Research and Innovation John Wilkinson
has announced.

Press Release Body:

January 2008
SPARKING GROWTH IN ONTARIO'S BIOPHARMACEUTICAL INDUSTRY
SUPPORT FOR CUTTING-EDGE HEALTH RESEARCH WILL CREATE JOBS, ATTRACT INVESTMENT
TORONTO - The Ontario government is providing $150 million through the Next
Generation Jobs Fund to encourage research-based pharmaceutical companies to invest
in Ontario, Minister of Research and Innovation John Wilkinson has announced.
"Attracting these investments will create good-paying jobs that support the
discovery of new medical treatments for diseases that affect us all," said
Wilkinson. "Supporting this research will strengthen Ontario's economy and create a
higher quality of life for Ontario families."

The biopharmaceutical industry:
. Employs over 9,000 Ontarians in high-value jobs, such as researchers and scientists
. Invested more than $550-million in Ontario in 2006 to enable the discovery of
life-saving therapies, such as antibiotics, new vaccines and more effective cancer
treatments
. Makes up thirty-one of Canada's top 100 corporate R&D investors.

The $150 million will create jobs in the biopharmaceutical research community by
enabling companies to apply for grants, loans, forgivable interest loans and funds
for building infrastructure, research and training.
"Our government's $150 million investment is focused on increasing the amount of
health research and advanced manufacturing activity that is happening right here in
Ontario," said Minister of Economic Development and Trade Sandra Pupatello. "The
significant investments that biopharmaceutical companies make in health research are
essential to the growth and success of our emerging biotechnology industry, and
other sectors that are important to Ontario's economy."
The $1.15-billion Next Generation Jobs Fund supports job creation in areas where
Ontario has a strong competitive advantage and is designed to build and strengthen
industry, create jobs and make Ontario globally competitive in key sectors.
"Today's announcement sends a signal not only to the domestic biopharmaceutical
industry, but also to our global community that Ontario values this sector and its
potential for growth," said Ronnie Miller, Chairman of Rx&D and President & CEO
Hoffmann-La Roche Limited. "By working together with the Ontario government, our
community is setting a course for the future that will help ensure we can continue
to invest today in the medical discoveries of tomorrow, retain our brightest minds
here at home and ultimately, ensure patients benefit from access to these new
medicines and vaccines."
"Ontario enjoys a vibrant, world-class health research sector," said Janet Rossant,
Chief of Research, The Hospital for Sick Children. "Incentives like this new
biopharmaceutical investment program will ensure that partnerships between industry
and researchers in Ontario continue to build a strong knowledge-based economy that
will create jobs and improve the health of our population."
The $150-million biopharmaceutical investment program is just one of the ways the
Ontario government is strengthening the economy and supporting Ontario families.
Other initiatives include:
. Encouraging strong job creation, with over 417,000 net new jobs since October 2003
. Launching the $160 million Ideas-to-Market strategy that supports emerging companies
. Helping Ontario's brightest researchers move their new ideas from labs to the
global marketplace by investing $527 million over five years in the Ontario Research
Fund
. Establishing a six-year, $500-million Advanced Manufacturing Investment Strategy
to help manufacturers invest in innovative new technologies
. Providing a 21 per cent Capital Tax rate cut for all businesses retroactive to
January 1, 2007, on the way to full elimination in 2010
. Announcing in the 2007 Fall Economic Statement an additional $50 million in
strategic investment to further strengthen Ontario's environment for scientific
research that will lead to new discoveries, higher quality of life and new jobs.
Renseignements:

Ray Lancashire, Media Relations, Invest Ontario
Ministry of Economic Development and Trade
900 Bay Street, 5th Floor, Hearst Block, Toronto, Ontario M7A 2E1
Tel: (416) 326-1608
Fax : (416) 314-4589
E-mail: ray.lancashire@ontario.ca

Contact Presse : IRIS Conseil
Christine Arnal
44, Rue de Varenne - 75007 - Paris
Tel : 01 45 44 04 21 & Fax : 01 45 44 18 14
E-mail : c.arnal@iris-conseil.net & Site : http://www.iris-conseil.net



Web Site: http://www.iris-conseil.net/

Contact Details: Contact Presse : IRIS Conseil
Christine Arnal
44, Rue de Varenne - 75007 - Paris
Tel : 01 45 44 04 21 & Fax : 01 45 44 18 14
E-mail : c.arnal@iris-conseil.net & Site : http://www.iris-conseil.net