Maryland and Ontario Deepen Economic Ties with Renewed Collaboration Agreement

Annapolis, MD – The State of Maryland, through its Department of Commerce, has officially renewed a partnership agreement with the Province of Ontario, Canada, aimed at fostering economic cooperation and increasing bilateral investment and trade. This renewed memorandum of understanding, originally established in 2020, now broadens its scope beyond initial focuses on advanced manufacturing, infrastructure, and agribusiness to encompass collaborations in the burgeoning sectors of life sciences, information technology, and clean energy. The agreement, signed by Governor Wes Moore and Ontario Premier Doug Ford, will remain in effect for a three-year period, with provisions for renewal by both parties.

This enhanced collaboration is designed to not only stimulate new business ventures and job creation within both Maryland and Ontario but also to facilitate the exchange of research and best practices across various industries. The agreement also encourages the development of exchange programs between academic institutions and the identification of strategies to meet shared workforce development objectives. Maryland Commerce Secretary Harry Coker, Jr., and Ontario Minister of Red Tape Reduction Andrea Khanjin, were present to mark the occasion. Secretary Coker highlighted the shared economic development initiatives between Maryland and Ontario, particularly in areas like the digital economy and climate change, emphasizing that open communication will strengthen ties as both regions support their growing communities.

The economic relationship between Maryland and Canada is substantial. Annually, Maryland exports approximately $2.2 billion in goods to Canada, with trade supporting over 153,000 jobs within the state. Furthermore, 263 Canadian-owned companies operate in Maryland, providing employment for around 6,850 individuals. The expanded agreement is expected to further capitalize on these existing economic connections.

As part of the initiative, a delegation from Maryland, including business representatives and state officials, recently concluded a three-day trade mission to Canada. The mission’s objectives included promoting trade and investment between Canada and Maryland, strengthening subnational ties, and advancing ongoing collaborative efforts. During their visit to Ontario, the delegation engaged with executives from IonQ, a publicly traded quantum computing firm, at its Canadian headquarters in Toronto. IonQ is currently investing in Maryland with the development of a new 100,000 square foot corporate headquarters located in the University of Maryland’s Discovery District. The delegation also toured the Centre for Quantum Information and Quantum Control at the University of Toronto, seeking to identify potential partnerships and best practices for supporting emerging startups.

Secretary Coker also hosted a roundtable discussion at the University of Waterloo’s Institute for Quantum Computing. This session brought together quantum stakeholders from both Ontario and Maryland to explore potential collaborations and investment opportunities. Discussions focused on strategies spanning commercial, academic, and government sectors, with the aim of showcasing the quantum capabilities and expertise present in both regions.

Article by Mel Anara, based upon information from the Maryland Department of Commerce.

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