Ontario increases investment to welcome more skilled immigrants
Now is the right time to apply for Ontario Provincial Nominee Program!
In addition to the $15 million over three years that was announced in Budget 2022, Ontario is investing an additional $25 million over the following three years to increase the number of skilled immigrants admitted to the province. The investment will strive to alleviate the province’s labor shortages and encourage economic expansion.
One-third of all new immigrants are welcomed to Canada each year in the province of Ontario. In order to achieve a record-high of 18,000 economic immigrants by 2025, the province and the federal government announced a doubling of the number of immigrants the province will select. The most common way for skilled workers to enter Canada is through the Ontario Immigrant Nominee Programme (OINP), which is the Provincial Nominee Programme (PNP) for Ontario. The province welcomes qualified individuals to submit for nomination through its OINP if they are skilled.
Ontario provides both basic and upgraded streams. The base streams are those that don’t adhere to Express Entry’s rules, while the enhanced streams are those that do. Applications for permanent residence received under Canada’s three primary economic class immigration programs are reviewed by the federal government using the Express Entry system.
Candidates are given a Comprehensive Ranking System (CRS) score based on points through Express Entry. The top applicants are then invited to submit an application for permanent residence. Extra 600 points are awarded to those who have been nominated through a provincial program that has been improved, effectively securing an Invitation to Apply (ITA) for permanent residency.
New Ontario Budget for 2023
It is said that the Building a Strong Ontario budget for 2023 takes a sensible, focused approach to assist individuals and businesses now while creating a solid financial basis for coming generations. Several key provisions that will affect immigrants from Ontario are included in the budget in addition to the $25 million investment in the OINP. The administration pledges to invest in skill advancement, restructure the apprenticeship and skilled trades systems, and support recent immigrants in utilizing their skills. Ontario is particularly committing $75 million to the Skills Development Fund over the next three years in order to help employees and job seekers get the skills they need to take on new opportunities and advance their careers.
The increased funding in Budget 2023 will, in essence, speed up the application process and ensure that newcomers to Ontario can soon start working in their professions, according to the Ontario website. With the money, security and other IT improvements will be improved, ensuring that the system can manage increasing demand both now and in the future.
The Budget also addresses the housing crisis and the challenges associated with home affordability. The goal of the government is to build 1.5 million homes by 2031. With the help of new laws put in place by the More Homes Built Faster Act, 2022, households in Ontario will be able to afford to live better lives. The cost of building a single-family home in the Greater Toronto Area will reportedly reduce by $116,900 as a result of these changes.
If you are looking forward to Ontario Immigration then give us a call at 8595010514, or you can mail us at info@peerlessimmigration.com and get guidance from our experienced Canada Immigration Consultant.
