ONTARIO NEWS RELEASE: Ontario Welcomes $820 Million Investment in the Life Sciences Sector

Mississauga Board of Trade
Mississauga Board of Trade

Published

January 23, 2025

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NEWS RELEASE

Ontario Welcomes $820 Million Investment in the Life Sciences Sector

AstraZeneca expansion will create over 700 new jobs, enhancing Ontario’s leadership in research and development

January 23, 2025

Office of the Premier

MISSISSAUGA — The Ontario government has secured a $820 million investment from AstraZeneca, a global biopharmaceutical business, to expand the company’s research and development (R&D) facilities in Mississauga and relocate the company’s Canadian headquarters to a larger, state-of-the-art office. The investment will create over 700 new, good-paying jobs across Ontario’s life sciences sector and further establish the province as a global biomanufacturing and life sciences hub, leading in the development, commercialization and early adoption of innovative health products and services.

“AstraZeneca’s investment is fantastic news for Ontario and a testament to the remarkable talent, innovation and opportunities our province offers,” said Premier Doug Ford. “We are proud to support this expansion, which will create hundreds of highly skilled jobs and further solidify Ontario’s position as a global leader in life sciences and innovation.”

Aligning with the ambitions set out in our government’s life sciences strategy, Taking Life Sciences to the Next Level, the expansion will allow AstraZeneca to leverage digital health technologies, computational pathology and artificial intelligence (AI) in clinical trial designs to advance the quality of treatments for patients fighting against cancer, infectious and rare diseases. In support of this investment, Ontario is providing $16.1 million in funding through the Invest Ontario Fund.

“Under the leadership of Premier Ford, Ontario continues to be at the forefront of life sciences innovation,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “AstraZeneca’s investment will not only support economic growth in Mississauga but reinforce Ontario’s position as a premier destination for domestic and international life science companies to advance their research and drive medical breakthroughs.”

Building on the company’s 2023 announcement, which included the addition of 500 new scientific roles, AstraZeneca’s total investment in Ontario now exceeds $1.3 billion, with more than 1,200 new, high-value jobs created between both projects. The Mississauga facility is a strategic clinical hub for AstraZeneca, employing 1,500 people and leading more than 210 global clinical studies.

As the company continues to pursue a footprint of more than 2,000 jobs in Mississauga and Peel Region, Ontario’s world-class talent and renowned network of hospitals, universities, laboratories and research centres will continue to play a key role in supporting their growth and accelerating improved clinical outcomes.

Since 2018, Ontario has attracted over $6 billion in investments from leading life sciences companies and global biomanufacturers. As part of the government’s life science strategy, the province will continue to address long-standing barriers to growth and position companies for success. This includes 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.

Quick facts

  • Ontario’s life sciences sector is a key economic driver, employing more than 72,000 people in high-value jobs across 2,000 firms. Every year, more than 70,000 STEM students graduate from post-secondary programs across the province, producing one of the most highly skilled life sciences workforces in the world.
  • Ontario is the largest life sciences jurisdiction in Canada. In 2022, Ontario’s life sciences sector generated more than $77 billion in revenue.
  • Ontario is a leader in health research talent that includes 19 of Canada’s top 40 research hospitals. These facilities are leading ground-breaking trials on local, national and international levels.
  • 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.
  • As announced in the 2024 Fall Economic Statement, Ontario is providing an additional $100 million to the Invest Ontario Fund, bringing the total size of the fund to $700 million.

Additional Resources

Media Contacts

Grace Lee
Premier’s Office
Grace.Lee5@ontario.ca

Jennifer Cunliffe
Minister Fedeli’s Office
jennifer.cunliffe@ontario.ca

Media Relations
Communications Branch
economy.media@ontario.ca

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