Ontario’s economy has experienced some dramatic changes over the past year and a half. A strong Canadian dollar, high oil and energy prices, a weakening US trading partner, and intensifying global competition have all had a significant impact on business. These changes have only reinforced the need to diversify export markets. Expanding into the international marketplace has proven to be beneficial to businesses individually and the broader business climate as a whole.

Taking the plunge into new markets can be risky for small and medium-sized enterprises (SME) and it can be difficult to find the resources necessary to make the expansion. The Ontario Chamber of Commerce has developed a program, Export Market Access (EMA), with funding from the Government of Ontario and the Government of Canada to help SME’s export to new markets and expand within current markets. Since its inception in 2008, the program has helped over 220 companies and given out over 2.3 million dollars.

EMA helps with some of the costs associated with reaching new export markets in four categories: direct contact, marketing tools, market research and foreign bidding projects. The contributions made by the EMA program make it possible for many SME’s to launch themselves into markets that would otherwise be unattainable.

Making these export markets available allows for a stronger more stable customer base for these SME’s. If we continue to invest in business within the province, the Ontario economy will emerge stronger and more diverse. For more information on the EMA program, please visit the website at www.exportaccess.ca.

For the first time, Fortune has opened its coveted list of the 100 fastest growing companies up to non American firms, and what do you know, but RIM, proudly Ontarian, has topped the list.

Fortune credits RIM’s dominance in the business mobile market as well as its ability to meet its challengers in the consumer market. Of course, the numbers speak for themselves: three year average earnings-per-share growth of 84%; annualized revenue growth of 77%; and a three year annualized return of 45% of its shares.

Chairman and Co-CEO, James Balsillie, participated at the inaugural Ontario Economic Summit and RIM has been represented on our delegate list almost every year since then.  RIM is also a member of the Ontario Chamber of Commerce.

A new $100 million genomics research fund has been created to prevent Ontario scientist from fleeing to U.S. laboratories. Since the federal government cut $147.9 million from three agencies that grant research funds to universities back in January, scientists have been drawn to Barak Obama’s generous $15 billion scientific research fund.

The announcement was made on May 4, 2009 at Queen’s Park in an attempt to keep these great minds here in Ontario. In the past, the province has attracted some of the world’s best researchers from Asia, Europe and the United States. Now the challenge is to prevent these individuals from going south of the border.

According to the government, the new funding for genomics research will support “globally significant, collaborative research projects.” Researches will have up until the August 31, 2009 to apply. The $100 million Global Leadership Round in Genomics and Life Sciences will be distributed to selected applicants. The fund will be administered by the Ministry of Research and Innovation.

With competition south of our border, will the new funding help position Ontario as a leader in significant advances in stem cell and genomics research? How do you feel Ontario is positioning itself for the future in comparison to the US?