With a focus on supporting businesses, promoting sustainability initiatives, and investing in community welfare, the 2024 Ontario Budget outlines various programs and initiatives aimed at driving Ontario forward. From business grants to healthcare investments, the budget encompasses a wide range of measures designed to benefit Ontarians across different sectors.
Businesses
The 2024 Ontario Budget continues support for small and medium-sized businesses (SMBs) through initiatives like the Advanced Manufacturing and Innovation Competitiveness (AMIC) stream. Launched in 2022, this stream provides funding support to advanced manufacturers provincewide, including those in the automotive, aerospace, chemical, life sciences, and steel sectors. It also provides access to a range of complementary services and support, including advisory services that help these businesses navigate other government programs.
Ontario is investing an additional $6.8 million over the next two years to enhance the Starter Company Plus program and it is also providing additional support for Ontario entrepreneurs. The enhancement will allow more eligible entrepreneurs to receive a Starter Company Plus Grant of $5,000 and will provide grants to an additional 500 entrepreneurs over two years. Through the program, these entrepreneurs will receive training, mentoring, and business advice. Entrepreneurs can apply to this program from April 22 to May 6.
The province is also focusing on enhancing the economic competitiveness of its shipbuilding industry, with a grant program to elevate its standing nationally. The government is engaging with the industry on the development of this new program to ensure it remains competitive, creates jobs, and helps grow Ontario’s economy. More details on this program will be available in the coming months.
Sustainability
Recognizing the importance of sustainability in rebuilding Ontario’s economy, the 2024 Ontario Budget invests $1 billion in the new Municipal Housing Infrastructure Program to support core infrastructure projects, such as roads and water infrastructure to enable housing for growing and developing communities. More information about the program, including eligibility and application intake details, will be announced later this year.
The government created the Forest Biomass Program in May 2023. This $19.6 million program helps develop the economic potential and environmental benefits offered by new and emerging uses of underutilized wood and mill by‐products. Potential biomass products include medicine, bioplastics, 3D printing, mass timber products, biodiesel, and biofuels. Ontario is providing additional investments to extend the program over the next three years at an annual funding level of $20 million. Businesses, municipalities, Indigenous communities, and not-for-profit organizations can apply to one of the 4 streams twice a year. The two intake periods for 2024 are May 31, and November 30, 2024.
Furthermore, initiatives like the Northern Energy Advantage Program (NEAP) provide a rebate for eligible mining, forestry, and steel operations in Northern Ontario. NEAP helps eligible large industrial operators better manage electricity costs as well as create and sustain good jobs in Northern Ontario. To provide continuing support to eligible facilities in the North, the government is increasing NEAP funding by an additional $86 million over three years, resulting in a total annual program amount of $167 million in 2024–25 and $206 million for 2025–26 and 2026–27.
In January 2024, Ontario launched the three‐year $200 million Housing‐Enabling Water Systems Fund to help municipalities repair, rehabilitate, and expand drinking water, wastewater, and stormwater infrastructure. The government is quadrupling the Housing‐Enabling Water Systems Fund to a total of $825 million so more funding can be available, through an application‐based program, for municipal water infrastructure projects that would enable new housing and promote sustainable development across the province.
Community Development
The 2024 Ontario Budget invested nearly $4 billion beginning in 2019–20, to ensure every community across Ontario has access to high‐speed internet by the end of 2025. Multiple programs are well underway to provide access to internet service and better cellular connectivity, including launching a Request for Proposal to find a qualified satellite internet service provider, as well as advancing the Southwestern Integrated Fibre Technology and Eastern Ontario Regional Network initiatives.
The government is launching the Ontario Transit Investment Fund to provide annual funding of $5 million to improve transportation accessibility in unserved and underserved areas in Ontario, particularly in rural areas. The Ontario Transit Investment Fund builds on the Community Transportation Grant Program and will include an ongoing application-based intake with expanded eligibility that includes municipalities, Indigenous communities, and non‐profit organizations.
The Preventing Auto Thefts Grant provides funding to police services for projects that feature new and enhanced crime‐fighting measures focused on prevention, detection, analysis, and enforcement.
Additionally, the government is investing $30 million over the next three years to launch the Fire Protection Grant. This application‐based grant will provide municipal fire departments, including those in small and rural communities, with funding for personal protective equipment and specialized decontamination tools to clean and sanitize firefighter gear and mitigate the long‐term effects of exposure to chemicals and other fire‐related contaminants.
Education & Healthcare
The 2024 Ontario Budget prioritizes investments in education and healthcare, with $23 billion in funding allocated to modernizing schools, including approximately $16 billion in capital grants over 10 years, to build, expand, and renew schools and childcare spaces across Ontario.
An investment of $15 million for the 2024–25 school year for digital math tools that will continue to provide access to learning opportunities at home and in the classroom, as part of the total funding of about $72 million in math support. As part of these math supports, the government also continues to support one‐on‐one French‐language online tutoring through Eurêka!
The province will also invest $21.1 million to expand the Ontario Youth Apprenticeship Program (OYAP), a specialized high school program that gives students who have completed Grade 10 the chance to explore the trades through cooperative education courses while completing their Ontario Secondary School Diploma.
The 2024 Ontario Budget is helping to stabilize Ontario’s colleges and universities, with nearly $1.3 billion in new funding. To ensure that Northern, and rural colleges and Northern universities can provide students with competitive choices for local postsecondary education, the government is providing an additional $10 million in funding through the Small, Northern and Rural Grant for colleges and the Northern Ontario Grant for universities in 2024–25. The funding is intended to provide targeted support to eligible institutions that are financially vulnerable, while the government collaborates with them on efficiency initiatives.
Ontario is investing $743 million over three years to continue to address immediate healthcare staffing needs, as well as to grow the workforce for years to come. The government is also investing $396 million over three years to support the stabilization, improving access, and expansion of existing mental health and addictions services and programs.
The government is investing $45 million over three years to enhance the Northern Health Travel Grant Program. This investment will help foster equitable access to specialized care and diagnostic services for Northern Ontario residents. As part of this program, the government will invest approximately $94 million over three years to enhance the health and well-being of Indigenous and Northern communities.
The 2024 Ontario Budget reflects a comprehensive approach to fostering economic prosperity, sustainability, and community well-being. Through targeted investments, grants, and programs, the government aims to support businesses, promote sustainable development, and enhance the quality of life for all Ontarians.
