CANADA NEWS RELEASE: Government of Canada Support to Help Ontario Businesses Strengthen Trade Resilience and Expand Into New Markets

FedDev Ontario investment for Toronto Business Development Centre to launch new export-support program.

July 30, 2026

Federal Economic Development Agency for Southern Ontario

Southern Ontario is home to growing companies with products and services that can compete around the world. As businesses look to reach new customers and expand into global markets, the Government of Canada is committed to helping them build the skills, connections, and market intelligence they need to succeed.

Today, the Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced an investment, through the Regional Tariff Response Initiative, for Toronto Business Development Centre (TBDC) to launch GoEU. This new program will assist Ontario companies to diversify their market reach and explore export opportunities in Europe. TBDC is undertaking this $5-million project, with FedDev Ontario providing nearly $2.5 million. The Government of Ontario is also investing $2.5 million towards this project.

Through GoEU, Ontario businesses will receive export‑readiness assessments, tailored advisory services, and direct access to in-market European expertise to support expansion into new markets. TBDC will prioritize firms looking to diversify exports in response to tariff-related pressures, including those in automotive, steel, and related supply chains, while leveraging in-market support to provide on-the-ground insights, connections, and partnership opportunities. These activities will help firms better understand market conditions, mitigate entry risks, build international partnerships, and generate new export opportunities.

By supporting southern Ontario companies to expand into Europe, this project supports the government’s Trade Diversification Strategy and the goal set in Budget 2025 to double Canada’s exports outside the United States over the next decade. It builds on the Prime Minister’s work with European leaders to deepen trade and investment ties, strengthen supply chains, and create new opportunities on both sides of the Atlantic.

• Established in 1990, the Toronto Business Development Centre is a not‑for‑profit business incubator that supports early‑stage and growing companies from Canada and around the world by helping them establish, scale, and succeed in Ontario’s economy.
• Through the Regional Tariff Response Initiative (RTRI), the Government of Canada is providing $1.95 billion to help businesses boost productivity, lower costs, strengthen supply chain resilience, and open doors to new markets, enhancing overall competitiveness across all sectors, including steel, aluminum, copper, automotive, food security, and forestry.
• The RTRI is part of a broad set of tariff support measures, including the Large Enterprise Tariff Loan Facility, the creation of a $1 billion Business Development Bank of Canada (BDC) program which includes the Pivot to Grow initiative, and support for the steel sector through the Strategic Response Fund, as well as enhancements to the Work-Sharing Program. Together, these efforts demonstrate a commitment to reinforcing Canada’s industrial strength and defending good jobs across the country.
• Budget 2025 introduced the Government’s Trade Diversification Strategy, with an ambitious goal to double Canada’s exports outside the United States over the next decade.
• Over the past year, Canada has signed more than 20 new economic and security partnerships across four continents, expanding the potential to bring made-in-Canada and made-in-Ontario goods and services to new global customers.

Additional Resources

• • • Regional Tariff Response Initiative in southern Ontario
    • FedDev Ontario
    • Toronto Business Development Centre

Contacts

Leela Polushin
Press Secretary
Office of the Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario
Leela.Polushin@ised-isde.gc.ca
343-543-5391

FedDev Ontario Media Relations
media@feddevontario.gc.ca