Another component of next week’s budget is being revealed.
The Ford government intends to increase a training fund to $2.5 million over the next three years.
The Skills Development Fund allows organizations to create or expand training programs or facilities.
Making the announcement during a skills competition in Toronto, Premier Doug Ford says the $1 billion boost to the fund will help connect more workers to acquire skills for in-demand jobs.
“The workers being trained through this funding will get the skills and experience they need to build and protect Ontario, all while enjoying the dignity of a hard-earned paycheck,” says Ford.
“We’re going to keep investing in workers because Ontario’s workers are the heart of our plan to continue moving forward and protect Ontario.”
Over $700 million in new funding will be earmarked for training programs this year, adding to the $100 million announced earlier this year.
Another $150 million will be added to help organizations build, expand and retrofit their training facilities.
“Our government has a plan to protect and support the training of the province’s highly skilled and world-class workforce against U.S.-imposed tariffs and for generations to come,” states Finance Minister Peter Bethlenfalvy.
“With these investments through the Skills Development Fund streams, we are taking bold actions to support our workers and businesses, while ensuring the economic prosperity of the province.”
The province says more than 500,000 workers will be needed to fill job openings in skilled trades-related occupations in Ontario over the next decade.
