New and expanded agreement creates the conditions for businesses to thrive and for workers on both sides of the border to find good-paying jobs

The Ontario government has signed a Memorandum of Understanding (MOU) with the State of Maryland to expand cooperation in life sciences, information technology and clean energy industries, which are critical to both regions’ economies. The agreement is part of the government’s plan to make Ontario the most resilient, self-reliant and competitive economy in the G7 by expanding trade and economic partnerships.

“Ontario and Maryland share a strong and growing partnership built on innovation, hard work and opportunity,” said Ontario Premier Doug Ford.

“By rejecting tariffs and trade barriers and building Fortress Am-Can — a renewed strategic alliance between the U.S. and Canada — we can support workers and businesses in Maryland and Ontario while attracting investment and exchanging cutting-edge innovations and technologies. We’re stronger when we work together, and our government is proud to work with Governor Moore and the State of Maryland to build our economies while helping to lower costs for workers and families.”

“Partnership produces progress across regions, economies and cultures,” said Wes Moore, Governor of Maryland.

“We are proud to double down on Maryland’s friendship with Ontario, which has been a source of job creation and economic growth for years. And by expanding the terms of this collaborative partnership to include key sectors like life sciences and I.T., we are furthering Maryland’s leadership in industries of the future. Together, we are building greater shared prosperity.”

The agreement expands on a Memorandum of Understanding originally signed between Ontario and Maryland in 2020. This renewed agreement reinforces the shared commitment to build a stronger, more competitive North American economy. By reducing trade barriers and rejecting tariffs, Ontario is creating the conditions for businesses to thrive and for workers to find good-paying jobs.

“While many jurisdictions around the globe are facing economic uncertainty, Ontario is focused on what keeps our economy open, competitive and ready for growth,” said Andrea Khanjin, Ontario Minister of Red Tape Reduction.

“We need to keep trade moving, we need to cut red tape and reduce barriers that hold back investment, and we need to build strong economic ties with partners like Maryland that will help our workers and businesses succeed.”

In 2024, goods traded between Ontario and Maryland were worth CAD$2.7 billion. The renewed MOU will build on the existing strong trade and investment ties between Ontario and Maryland, supporting economic cooperation and driving innovation across borders. By working together, businesses in both regions will have the tools needed to succeed in a rapidly changing global economy.

“From meeting the needs of a digital economy to addressing climate change, Maryland and Ontario are working towards several of the same economic development initiatives,” said Maryland Secretary of Commerce Harry Coker, Jr. “Encouraging these open lines of communication will strengthen ties between both regions as we support our growing North American communities.”

Ontario has been strengthening ties and establishing new relationships with government officials at the federal, state and local levels, as well as business leaders across the United States. Since 2023, Ontario has signed five new economic co-operation agreements with Indiana, Michigan, Nevada, Illinois and New Jersey.
.

.

Quick Facts

• Nearly one in five jobs in Ontario depend on trade. With over 1.3 million jobs supported by exports, Ontario’s jobs are the most export-reliant across Canada.
• In 2024, more than $487 billion in merchandise was traded between Ontario and the United States.
• There are an estimated 40 Ontario companies with operations in Maryland, with an estimated 30 Maryland companies active in Ontario.

.

.

Additional Resources

• Memorandum of understanding between Ontario and Maryland
• Ontario and Maryland Sign Historic Investment and Procurement Agreement\

~ Photo by chris robert on Unsplash