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Ontario companies will get an advantage when bidding for public contracts in the province.
A new regulation under the Building Ontario Businesses Initiative Act will get preferential treatment when public sector entities, such as hospitals, school boards and colleges, seek goods and services.
Nina Tangri, Associate Minister of Small Business, says it levels the playing field for local businesses.
“By levelling the playing field for local businesses, the government is supporting Ontario-made products and innovations that will promote economic growth, create new jobs and secure the province’s supply chain,” says Tangri in a release.
The new rules only apply to procurements that fall below $121,200 in the broader public sector.
For government purchases, the dollar threshold is set at $30,300 for goods and $121,200 for services.
The provincial government says that combined, the Ontario Public Service and Broader Public Sector spend approximately $30 billion on goods and services each year.
