Ontario’s productivity rate ranks 14th out of 16 locations
Toronto, ON -- Aug. 22, 2002 -- Ontario's GDP per person is almost 14% lower than the median of 16 comparable North...
Toronto, ON — Aug. 22, 2002 — Ontario’s GDP per person is almost 14% lower than the median of 16 comparable North American jurisdictions. This performance gap equates to nearly $6,000 for every person in Ontario. This was a conclusion of the second Working Paper released yesterday by the Institute for Competitiveness & Prosperity.
The Working Paper demonstrates that while Ontario’s economy performs extremely well globally, it trails many of the U.S. states in its peer group.
“Ontario’s economy is one of the strongest in the world,” said Roger Martin, Dean of the University of Toronto’s Rotman School of Management and Chairman of the Institute for Competitiveness and Prosperity. “But when we compare it to a peer group of U.S. states and Quebec, we rank 14th out of 16.
“The Working Paper asks how high Ontarians want to aspire. I sincerely doubt Ontarians are satisfied with a 14th out of 16 — the question is how far and how fast do we want to move up in rank?”
The Working Paper identified productivity as the primary source of Ontario’s performance gap. Martin said, “Improving productivity isn’t getting us to work harder – in fact a more productive economy provides more leisure time, if that’s how people choose to benefit from it.
“Productivity comes from innovation and upgrading our products and processes and we believe this is a function of our attitudes, investments and motivations.”
The complete paper can be downloaded directly from: http://www.competeprosper.ca/public/wp02.pdf