Ontario Welcomes $820 Million Investment in the Life Sciences Sector
- Ontario is supporting AstraZeneca’s investment of $820 million with $16.1 million through Invest Ontario’s signature Invest Ontario Fund. The investment will create over 700 new, good-paying jobs.
- Since 2018, Ontario has attracted over $6 billion in investments from leading life sciences companies and biomanufacturers.
- The investment aligns with Ontario’s Life Sciences Strategy. AstraZeneca’s R&D hub will enable the growth and expansion of the health data ecosystem, leverage Ontario’s expertise in AI and digital health, and better inform clinical trials to improve patient outcomes.
- As part of the government’s life science strategy, Taking Life Sciences to the Next Level, the province is investing $146 million to build on this momentum and further cultivate the conditions for both domestic and international companies to grow and thrive in Ontario.
- Ontario is a leading AI hub of talent, with nearly 1,800 AI Masters enrollments and over 1,100 graduates in 2023. Home to approximately 400 specialized AI and technology companies, Ontario is driving innovation and has generated more than 8,500 high-paying jobs through its exceptional talent and cutting-edge expertise.