It was announced recently that the government of the province of Ontario will be establishing a new $650-million fund for auto companies looking to invest in green technology.

Osprey Media writes

The Next Generations Jobs Fund is aimed at the auto sector. It will be available for companies interested in the development of clean vehicles, clean fuels and clean technologies in Ontario.

Other companies looking at the development of clean technologies will also be able to access the money.

It will secure the next generation of high-paying jobs for Ontarians by developing clean and green technologies,[Premier] McGuinty states in a press release.

“With the world looking for innovative ways to conserve energy and fight global warming, some place is going to secure thousands of jobs by researching and developing new solutions, and we want that place to be Ontario,” he states.

The premier’s office states the fund will be modelled after the $500-million Ontario Automotive Strategy that helped leverage more than $7 billion in new auto investments in the province over four years.

It seems like a smart move to make — especially with an election coming up on October 10th — but will it be enough?

via [osprey media ]