Ontario’s life sciences sector contributes $58.1 billion to Ontario’s GDP, generates $8.8 billion in government revenue, and supports nearly 200,000 jobs across the province. As the engine of life sciences innovation in Canada, Ontario accounts for 51% of national life sciences R&D activity and over half of all R&D personnel in the sector, underscoring our province’s vital role in advancing Canada’s global competitiveness.
We are encouraged to see Budget 2025 include measures that expand venture capital for high-growth life sciences companies, invest in world-class research talent through Canadian Institutes of Health Research (CIHR) and Canada Foundation for Innovation (CFI), and strengthen Canada’s leadership in biodefence and health innovation through the new Defence Industrial Strategy.
These priorities closely align with the recommendations LSO outlined in our federal pre-budget submission, particularly around strengthening access to capital, building research capacity, and integrating health and defence innovation.
At a time when science and evidence-based policymaking face growing political headwinds in other jurisdictions, Budget 2025 reaffirms Canada’s commitment to research, discovery, and collaboration as drivers of resilience and prosperity.
Life Sciences Ontario looks forward to continuing to work with federal and provincial partners to ensure these commitments translate into tangible impact for innovators, researchers, and patients across Canada.
Read more on Budget 2025: Building Canada Strong
Read our Federal Pre-Budget Submission
