Ontario plans to increase the investment by adding $25 million more to the $15 million announced in the 2022 Budget. The total investment will spread over three years.
Ontario aims to double the intake of skilled immigrants and is investing $40 million over three years. The investment will support the province’s objective of improving the economy by addressing skilled labor shortages.
Ontario being the most sought-after destination for immigrants to Canada, accounts for over thirty percent of the new immigrants arriving in Canada. The federal government of Canada and the province’s immigration authorities decided to double the number of new economic immigrants. It will help Ontario welcome a historic number of 18,000 skilled immigrants by 2025.
Adding more skilled immigrants will help Ontario improve the infrastructure of healthcare, housing, highways, education, and transit. The new additional immigration budget for 2023 will accelerate application processing and speed up the integration of new immigrants into the labor force. The additional investment will improve the IT systems to cope with the rising influx of immigrants.
Ontario’s provincial nominee program
Skilled immigrants can leverage Ontario Immigrant Nominee Program (OINP) to become permanent residents in Canada’s most popular province. The OINP is the most sought-after pathway among skilled immigrants aspiring to settle in Canada.
Provincial nomination qualifies the candidate to apply for permanent residency to the Immigration, Refugees, and Citizenship Canada (IRCC). Ontario provides the base and enhanced PNP streams to eligible skilled immigrants. Enhanced streams align with Canada’s Express Entry application management system for the three main economic immigration pathways.