Ontario to Invest $25M to Double Skilled Immigrant Intake and Boost Economic Growth
Ontario is committing an additional $25 million over the next three years to double the province’s skilled immigrant intake, addressing labour shortages and promoting economic growth. The province welcomes a third of all newcomers to Canada annually and plans to select 18,000 economic immigrants by 2025.
Ontario Premier Doug Ford stated that the government is prepared to welcome more skilled newcomers to help build infrastructure and tackle labour shortages. The 2023 Budget investment will expedite processing, enable newcomers to quickly work in their professions, enhance security, and make IT updates for future demands.
The Ontario Immigrant Nominee Program (OINP) is a leading pathway for skilled workers to immigrate to Canada. Through OINP, skilled individuals targeted by the province can receive a provincial nomination and apply for Canadian permanent residence with Immigration, Refugees and Citizenship Canada (IRCC).
Ontario PNP streams are either base or enhanced streams. Enhanced streams align with the Express Entry system, which manages permanent residence applications through Canada’s three main economic class immigration programs. Candidates with a provincial nomination from an enhanced program receive an additional 600 points, essentially securing an Invitation to Apply (ITA) for permanent residence.
Ontario’s 2023 Budget, titled Building a Strong Ontario, focuses on helping people and businesses while establishing a robust fiscal foundation for future generations. The budget includes investments in skills training, apprenticeships, skilled trades systems, and support for newcomers to utilize their skills.
Over the next three years, $75 million will be invested in the Skills Development Fund, helping workers and job seekers acquire the necessary skills for new opportunities and career advancement. Furthermore, $224 million in 2023 and 2024 will be allocated to a new Skills Development Fund capital stream, expanding access to training centres for skilled trades and in-demand jobs.
The budget also addresses the housing crisis and affordability issues, with plans to construct 1.5 million homes by 2031. The More Homes Built Faster Act, 2022, aims to reduce the cost of building a single-family home by $116,900 in the Greater Toronto Area, making housing more affordable for Ontario families.