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Information Technology Companies to Benefit

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Ontario’s Budget, announced early in May, restored tens of millions of dollars in R&D incentives to the bottom lines of IT industry companies. For a two-year period, Ontario will restore the value of base provincial incentives that were to have been clawed back as per the February 2000 federal budget.

The announcement is a significant achievement for an ITAC / ITAC Ontario-led, multi-industry coalition headed by Karen Wensley of Ernst & Young and Shirley-Ann George of IBM Canada. Working in Ottawa and Queen’s Park, our team brokered an honorable compromise and opened a window for the achievement of a permanent solution.